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HashChing is Australia’s first online marketplace allowing consumers to access great home loan deals without having to shop around. Completely FREE to consumers, HashChing connects you directly to verified mortgage brokers who can further negotiate a better rate from the lenders and save you time, hassle and money.

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LEZLI

2 years ago

Hi Joel, Some lenders do use your Rental statement as 'savings'. There is a problem with some lenders using the 'Contract Price' and some using their valuer's valuation. I had that problem with 2 Lenders using those 2 valuations. Will help you with 1 of the over 40 lenders that I have access to. I have rates from 3.69% for Vic properties, where I am. Contact me via the Profile page and I look forward to helping you. Kind regards. Lezli

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Hema

2 years ago

Hi Joel, Thanks for your inquiry. In regards to genuine savings the bank usually needs 3 months statements however with your deposit of 10% we do not need to prove it. In regards to valuation coming lower than the market, we can do a few upfront valuation at no cost to you and compare. Before you attend an auction I can also assist with property report. Please click on view profile, even with just a quick chat over the phone, we can see if I can be of assistance. Look forward to hearing from you. Regards, Hema

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Danny

2 years ago

Hi Joel, 1 - Generally a 3-month statement is required or rental payments, however because you have 10% you will be okay unless it was a gift? Will have to speak to you further to determine your gen savings. 2 - as brokers there are different ways to order valuations depending on lender + we have a large panel of lenders who may value the property higher than what you originally received. Happy to discuss your scenario by clicking on View Profile, look forward to helping you.

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Daniel

2 years ago

Hello Joel - With a 10% deposit you dont need genuine savings at all. However if you have to go above 90% then there are other options available, such as rental payments etc. With regards to valuation - did you go to a bank direct - because brokers have access to various panel valuers and could easily get a second valuation or challenge the low valuation by way of additional documentation like comparable sales etc. Hope I can be of assistance in providing you a positive experience. Regards Daniel

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