two weeks to settlement - freaking out

Jog on mate, I'm done responding to you. You're just looking for an argument but you never listen to advice given.You're such a hard worker and such a fantastic prospect for lenders but no bank wants to lend to you, you can't get ya head around it.
Find another hobby.

 

credit enquiries are literally the dumbest indicator of credit risk ever.

I don't listen because I don't accept this wanton stupidity as a mechanism of risk scoring.

 

And have you found lenders who do not care about dings on your credit file?

 

@starfish_99 maybe the banks read your comments on here and assume you might be too hot tempered and at risk of losing your high paying job. Take a deep breath and understand that these guys on here are not the banks and are only trying to help you.

 

I know something dumber

 

ask again for emphasis.

 

Can't say I'd really want this. The advice given by brokers here back In March was fairly consistent and objectively good advice based on the information available.

If the credit file was a problem back then, it's a disaster now. Based on the current info I can't really see a solution that I'd be happy with other than to wait and give the credit file time to heal.

Any decent broker who reads this thread can clearly see that.

 

Like I said a few weeks back knucklehead if you could just sit tight don't apply for anything for 1 year you will be fine with pretty much everyone assuming your LVR was sub 80% at the time and you still had your j.o.b. Patience doesn't seem to be a strong point for you.

Ps on the big increase in income I've had a couple of issues with this in the past. One case i remember the mortgage insurer wanted to use old income pre pay rise which wasn't enough to service and their logic was the new income and big pay rise was high for the job (cant remember what it was) and if they lost that job they may not be able to find another on same level. Loan was declined. It was right at the start of the GFC meltdown and lots of crazy decisions were being made. I think we got it set with another lender.

I've also had young FIFO miners declined based on their salaries not being sustainable. Mind you this was before the lenders shaded overtime and shift allowances etc. Hard one for the lenders as they can see the over spending patterns etc. The only repossession I've had in 18 years was a young miner who ended up with a jetski, boat, Ute, dirt bike etc etc, all under finance AND after buying their first home with a 90% LVR. Then mining downturn hit.

 

Recent jumps in income without having completed a financial year and having a group certificate (or whatever it is now) do seem to matter. They will use the previous years income statement (IME) which for me was 80k less and meant I got declined for a CC because I didn’t wait another month until the new financial year rolled around :S. This is despite providing 12m financials. I do have a commission component ( although this hasn’t changed basically my base increased by that amount) so not sure if this is also for pure wage earners

 

Sounds like a large component of your pay package was commission/bonus? If so they will want to see a year-end summary to confirm.

You mention you work for a large tech giant, often they will issue stock as part of remuneration. This cannot be used for servicing purposes.

 

Wrong person... I’m not the OP just providing a suggestion why things can be challenging with a salary jump even when on a good income. I work in the medical field... certainly a moderate component ~1/3 is commission. You live and learn... next time I won’t be so impatient

 

in the recent years, the banks invested heavily on data, they are always collecting and sharing data. throughout the pandemic may be they have data on the industry you work in which you may not even know.
imagine if you are a high paying exec in the travel / airline industry now.