Good Evening Daniel and many thanks for your question. Best place to start is to obtain your Veda credit report. This will show the impact on late payments and credit inquiries. Are you still experiencing issues with credit eg are the loans repaid? Regarding your borrowing capacity, the broker will need to obtain a complete picture of your income/expenses to be able to let you know maximum lending. Please visit my profile and lets connect so we can answer all the questions you may have. Regards Michael
Hi Daniel, thank you for your question. The credit issue will determine which lender is suitable so a Veda report as suggested will be ideal. There are lenders that can cater for adverse credit history. Furthermore we would require a more detailed understanding of your assets & liabilities as well as your income. Finally the land purchase price and construction cost will be a factor in your overall loan to value ratio. Please feel free to contact me to workshop in further detail.
Hi Daniel, we need to understand your whole situation, analyse the late payments and your goals and needs, review your Credit File, we can organise a copy for you with your authorisation. We would then investigate your Finance options to see if there is an opportunity for you to achieve your goals. Please give us a call to discuss this further. Cheers Laurayne
Hi Daniel, I am happy to invest the time needed to fully assess your situation including your borrowing capacity. Please contact me to discuss in greater detail
Hi Daniel, we will need to invest a bit of time to fully assess your situation including your borrowing capacity. Please feel free to contact me to discuss in greater detail.
Just as some general advice, everyone is entitled to a free copy of their credit report every 12 months. Go to Veda****.au and follow the instructions to obtain your report. It will take up to a week to receive then you can review and see if you really have anything to worry about. It also gives you a credit score which is an indication of your attractiveness to a lender. You can pay a small fee to get your report instantly. We recommend all our clients regularly obtain a copy of their credit report and we provide advice to all our clients on how to maintain a good credit rating. Good luck in you endeavours and well done on building up such a great cash balance!
Hi Daniel, whilst I agree with the above mentioned brokers here and defaults aside, I think given your intentions with the land and the construction (building & selling or build & keep) it may warrant further investigation especially when it comes to affordability and serviceability. Realistically if your income is strong enough I can't see there being too many issues however; if you are cash in your account but low income than that may cause a problem or two. I think a conversation to fully understand your position is required. Good question though and good luck.
Hi Daniel, if the late payments have not been registered as defaults then you should be fine. I would need to get an A&L from you and your annual income to calculate your borrowing capacity and discuss some options. If you are in WA then feel free to get in touch. Good luck, Bez
Hi, Daniel Thank you for your question. I would recommend first get a Veda credit report, as the impact on late payments and credit inquiries will be shown on your report. The question is, also do you still have credit issues or are all credit/loans paid? To establish your borrowing capacity, I would also recommend to fill in the contact form, and a broker close to you will contact you. This broker will be I a position to establish your borrowing power and answer all the questions you may have. However first get your credit report. All the best
Hi Daniel, As Andrew mentioned it really depends on the type of default, time frame the default was there for etc but It can be a possibility. You need to get in touch with a broker to discuss this further. Feel free to contact me if you have any further questions. Regards Gee
Hi Daniel, it will come down to what the actual credit issues are such as unpaid defaults. If you can provide a copy of your latest credit report from Veda, a finance broker will be able to determine the best way forward. However, if you need to apply to a specialist lender. most do not do construction loans. If you are in WA, i would be happy to discuss further your requirements. Please check my profile for my contact details.
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Hi Daniel, I love people like you. I have helped them all - so please contact me via my Profile page. look forward to hearing from you. Thank you.