Lending advice please and home improvements

Hi team,

Looking for advice around borrowing capacity. To throw a complication into the mix, ive just been approved for $50k by current bank for a shed on my PPOR (have 3 acres) which i have NOT pulled the trigger on yet. Just wondering if the potential gain on my property is worth the hit to my borrowing capacity for an invest property?

Also, can people from this forum recommend mortgage brokers from this forum? I live in Yass and work in Canberra but im not adverse to working with someone online (borderless).

Thanks!

 

Hey,

Whether the $50k will impact or not is hard to say without knowing your full situation - do you have access to other funds for your deposit?

If your borrowing is strong and deposit funds aren’t an issue, the $50k probably isn’t too much of an issue but as you say, chat with a broker to get the full picture.

Any broker here is good - they all know what they’re on about.

 

Jess is right - any broker here should be able to do that exercise very quickly for you.