Private rental history

Discussion in 'Loans & Mortgage Brokers' started by Hyhk, 24th Apr, 2021.

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  1. Hyhk

    Hyhk New Member

    Joined:
    20th Jan, 2021
    Posts:
    4
    Location:
    Western Australia
    Hi,

    Can Private rental history be considered genuine savings?
    We have a rental contract, a bond was lodged, and can show the history of fortnight payment.
    But some lenders do not consider this as genuine savings
    Is that true? Do I need ' Rental ledger' to prove ?

    Thanks!
     
    Hyhk, 24th Apr, 2021
    #1
  2. Morgs

    Morgs Well-Known Member Business Member

    Joined:
    7th Dec, 2017
    Posts:
    1,807
    Location:
    Sydney NSW
    Some lenders may consider with copy of executed lease plus bank statements to support provided deal is strong.

    What LVR% are you looking at? Different lenders have different requirements around genuine savings, some want this >80% while others are good up to 90% (and some have niche non-gen savings products).
     
    Morgs, 24th Apr, 2021
    #2