

Thanks for the detail Gail. Given that it is vacant land, I would definitely recommend going to your local branch (as mentioned by Osman) and having them consider the fact that you dont have living expenses, otherwise your income is considered to barley cover your living expenses according to the national Household Expenditure Measure (HEM) and therefore affordable. Your local branch would be the best avenue for you with this as they will hold discretion.

Hi Gail Living expenses would be deducted form the income you have, and the remaining amount would potentially not be sufficient for the loan amount. As you are in a regional area, best would be to visit your nearest bank branch where your pension is paid into. You could show them that you will buy this $60K or $80K property for investment, and they could add potential rental income to your existing pension income. Give it a try, and good luck and happy Easter to you. Cheers Osman Duman

Hi Gail Your request seems reasonable and based on potential rental income from the proposed purchase, this is something that can be considered for approval. The only question to consider is if you were to ever move into the property and therefore not receive rental income, would you go to working for an income?

Gail
Thank you Michael, I have booked marked you and will get back to you after easter. Thanks very much