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New Job

Discussion in 'Property Finance' started by Timocracy, 8th Aug, 2015.

  1. Timocracy

    Timocracy New Member

    Joined:
    2nd Jul, 2015
    Posts:
    1
    Location:
    Earth
    Hi guys,

    Friend asked me for advice just started a new job(100k+ free accom) 3 months ago, will be off probation in about 6 months.

    Has a long savings history(5-10% LVR) and been in the same industry for 8 years. Owns no property and would like to buy a IP ASAP.

    What lender would he have the best chance of getting finance through and how long would he need to be in the new job?
     
  2. jrc

    jrc Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    84
    Location:
    Regional NSW
    i went same industry 20% down with Nab earlier this year for a PPOR and settled a week before I started the new job. St George wasn't interested even though they had a mortgage on an IP we have - 40% LVR until I had startedthe new job
     
  3. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker Business Member

    Joined:
    18th Jun, 2015
    Posts:
    694
    Location:
    Sydney
  4. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

    Joined:
    18th Jun, 2015
    Posts:
    3,361
    Location:
    Perth WA
  5. jrc

    jrc Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    84
    Location:
    Regional NSW
    They wouldn't consider it until I had started the job although I had a signed contract with the new employer. After I started they would waive probation after I had 2 payslips from the new employer. My issue was. i was moving a long distance and wanted the house to move straight into