I was just hoping for some advice on getting a loan with a new full time job (2 weeks). Any idea which bank would be best to apply with? Thanks in advance
Employment turnover isn't as much a big deal as it used to be. Several lenders will be able to consider an application when you've recently started a new job. Prior industry experience, LVR, type and purpose of loan plus many other factors need to be considered in figuring out which lender is going to be most suitable. It would be best to speak with a mortgage broker to figure out the most appropriate lender to your needs.
Peter pretty well covered it all here. There are plenty of banks that will accept one or two pay slips as proof of income. In some instances you may need to provide an employment contract or letter of employment as supplementary income. If your work is part time, casual or not permanent you may come up against a few hiccups, but even then there are still plenty of banks that will factor in industry experience, time off between jobs and various other things.
Thanks for your help. I'm already with commbank for my existing loan. With a lot of equity in my property (230,000 loan, property value $350-370,000). Would I be able to cross the loans to use equity from existing house without having to refinance the existing loan? (Ask would sell the first property within the next 3-4 months of buying my next project home)? I did use a mortgage broker with my first home loan which was with commbank and locked me in for two years with them and was slow in responding so didn't see point in going with them again and thought I might trygoing straight to a bank this time.
You dont need to cross the properties Simply take a loan of the 20 % and costs secured ONLY to the existing prop, and an 80 % lend secured ONLY to the new prop peasy ta rolf