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refinance with only 3 months banks statements

Discussion in 'Property Finance' started by wiseguy, 7th Mar, 2016.

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  1. wiseguy

    wiseguy Member

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    ...besides ANZ?

    thanks
     
  2. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    Yes
     
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  3. Simon Moore

    Simon Moore Mortgage Broker - Melbourne Business Member

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  4. wiseguy

    wiseguy Member

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    because there were missed mortgage repayments prior to that :)
     
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  5. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    A pretty good reason
     
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  6. legallyblonde

    legallyblonde Well-Known Member

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    Three months is a pretty good recovery time from missing payments to be looking at borrowing again. =)
     
  7. Kinnon Bell

    Kinnon Bell Finance Broker

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    If a mortgage debt is being refinanced then most banks generally want 6 months worth of recent statements. Some banks still want them even if the debt isn't being refi'd.
     
    Last edited: 7th Mar, 2016
  8. Bubica42

    Bubica42 Well-Known Member

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    Why "besides ANZ" ? What's wrong with them?
     
  9. wiseguy

    wiseguy Member

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    yeah had some personal expenses to deal with
    So just ANZ?
    i know Westpac, St G, AMP, Citi, ING, all want 6 months..
     
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  10. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

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    There's a few lenders that will take 3 months statements. The Rock building Societ comes to mind. Their servicing model is worse than the ANZs though.

    Any particular reason you can't stick it out another 3 months, it'll open your options significantly.
     
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  11. wiseguy

    wiseguy Member

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    lousy rates, lousy serviceability. not fit for someone with a lousy repayment history..
     
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  12. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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  13. Corey Batt

    Corey Batt Finance Strategist Business Plus Member

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    Exactly my thoughts. One or two minor issues can generally be explained away, especially sub 80%. Always be honest and upfront with your broker so they can mitigate it in the notes, provide a letter etc.
     
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  14. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Do you have to refinance now? Can you wait the three months for the missed payments to be removed?

    As mentioned above - sometimes the brokers notes can address the repayment conduct. However - if there were multiple late/missed repayments then it would prob be best to wait it out.

    Cheers

    Jamie