Income from shares portfolio

Discussion in 'Loans & Mortgage Brokers' started by devank, 18th Jun, 2015.

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  1. devank

    devank Well-Known Member

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    Inner West - Sydney
    Is it possible to show the income from shares portfolio for serviceability calculations?
     
    devank, 18th Jun, 2015
    #1
  2. tobe

    tobe Well-Known Member

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    Most lenders will want to see it in your tax return for two years. Alternatively they will use a 'deeming rate' which is usually not a great return.
     
    tobe, 18th Jun, 2015
    #2
    Mick C likes this.
  3. Redom

    Redom Mortgage Broker Business Plus Member

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    Depends on the lender - some accept it if you can show proof. Although the yield used is typically lower than what you're earning, so its not a good way to increase serviceability.

    As tone mentioned, most lenders will want to see income (dividends) history for 2 years + for it to be used.

    Any loans attached will need to be disclosed. Assessment rate used against it will also vary from lender to lender (most adding some sort of interest buffer over what is paid).

    Cheers,
    Redom
     
    Redom, 18th Jun, 2015
    #3
  4. James Bond

    James Bond Well-Known Member

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    Melbourne
    Yes. I did. Although in the end it wasn't needed.

    JB
     
    James Bond, 26th Jun, 2015
    #4
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