Rate rises and your mortgage

[ThePedigree]

I feel like you should be able to get around that with a broker? For example if I have a 500k salary, willing to put a 20% deposit down on a 1 million dollar dwelling, would a bank really say no to that based on credit history?

I feel like you should be able to get around that with a broker? For example if I have a 500k salary, willing to put a 20% deposit down on a 1 million dollar dwelling, would a bank really say no to that based on credit history?

As a broker I’m telling you yes they would decline you. They do it everyday. Credit reports are there for a reason. Just to point my post I mentioned it was a major. The majors don’t deal with bad credit. ANZ kind of does. The guy that got declined at this bank was high net income of 400k per year. Doesn’t matter. Policies change all the time though and this bank is now starting to accept a lower VEDA score on credit reports.

As a broker I’ll get you a loan if you want regardless of your credit report. I’ve got close to 60 lenders I can go to so there will be a lender that will give you a loan with a bad credit report for sure! Just be prepared to pay for it.

If it’s a second tier specialist lender then they will sting you with a higher rate and a possible a risk fee. If your credit report has a disqualified directorship or something worse let’s go see a private bank. They’ll loan you the money at some crazy rate with massive fees, and put it up your ass with no Vaseline at the same time mate. [emoji23]

 

[BELMORE]

As a broker I’m telling you yes they would decline you. They do it everyday. Credit reports are there for a reason. Just to point my post I mentioned it was a major. The majors don’t deal with bad credit. ANZ kind of does. The guy that got declined at this bank was high net income of 400k per year. Doesn’t matter. Policies change all the time though and this bank is now starting to accept a lower VEDA score on credit reports.

As a broker I’ll get you a loan if you want regardless of your credit report. I’ve got close to 60 lenders I can go to so there will be a lender that will give you a loan with a bad credit report for sure! Just be prepared to pay for it.

If it’s a second tier specialist lender then they will sting you with a higher rate and a possible a risk fee. If your credit report has a disqualified directorship or something worse let’s go see a private bank. They’ll loan you the money at some crazy rate with massive fees, and put it up your ass with no Vaseline at the same time mate. [emoji23]

So a line of credit is interpreted as a negative by all banks? Dumb as.

I got a loan from St George with about 20 rejected applications on my credit report though, so not sure how it could be a blanket rule..

 

[ThePedigree]

So a line of credit is interpreted as a negative by all banks? Dumb as.

I got a loan from St George with about 20 rejected applications on my credit report though, so not sure how it could be a blanket rule..

I didn’t say that. I was talking about a customer with multiple credit enquiries applying for a loan at 1 bank. He could’ve been accepted at the next one for all I know. And it wasn’t St George so I’m not really sure that we are having the same conversation. All banks are different. As you highlighted already, that’s why it’s a brokers job to find you a loan that fits.

 

[BELMORE]

I didn’t say that. I was talking about a customer with multiple credit enquiries applying for a loan at 1 bank. He could’ve been accepted at the next one for all I know. And it wasn’t St George so I’m not really sure that we are having the same conversation. All banks are different. As you highlighted already, that’s why it’s a brokers job to find you a loan that fits.

What do you mean you didn’t say that?

you said “a major bank would decline an application if you have many credit applications on your file, regardless of your financial situation”

scroll up and read, geez they let anyone become a broker these days.

 

[MoNkEy]

Yep.

It will no doubt rise to 7.49% in the next few days.
View attachment 65015

Just got the email.

Rate will rise to 7.49% on 15/02.

 

[ThePedigree]

Just got the email.

Rate will rise to 7.49% on 15/02.

Maybe they’re hoping you go shopping and spend that money in your offset. [emoji28]

 

[The DoggFather]

I wouldnt be upset if somebody puts 2 in the head of the RBA "boss". Rothschild arse licking cuck.

The **** even looks like a pole smoking worm

 

[Memberberries]

@Blue_boost
if you have not yet done so, it is time to stick your nose up at renters who like to use credit cards and never mow the lawn!

 

[Chris Harding]

I am a broker. [emoji23]

All my clients are getting rate discount for sure

My question was more are you feeling the pinch like the tabloids are claiming?

The stats don’t paint the same picture, but still want to know what real people are feeling.

Housing lending is a safe bet for banks. They know that people will sacrifice everything to keep their home; and that there is value in the asset should they need to foreclose. People will be meeting their mortgages because they have no choice. It doesn't mean that they are doing OK.

 

[The DoggFather]

PS have the Rothschild blamed climate change for interest rates yet?

 

[wendog33]

Covering some of the points raised by Kennellers...

1.
Phillip Lowe explains.

https://twitter.com/i/web/status/1625756095976296449

2.
Jim Chalmers explains.

https://twitter.com/i/web/status/1624539045442498560

 

[The DoggFather]

Covering some of the points raised by Kennellers...

1.
Phillip Lowe explains.

https://twitter.com/i/web/status/1625756095976296449

2.
Jim Chalmers explains.

https://twitter.com/i/web/status/1624539045442498560

Do you actually believe a word that comes out of that snakes mouth?

 

[wendog33]

Do you actually believe a word that comes out of that snakes mouth?

Of course not Thought Kennellers would get a bit of a laugh lol that they actually imagine we might believe them.

 

[The DoggFather]

Of course not Thought Kennellers would get a bit of a laugh lol

Bankers are the same level of scum as pedos. Since the top bankers are all Luciferian (NOT Jewish or Zionists) they actually are pedos.

 

[wendog33]

Bankers are the same level of scum as pedos. Since the top bankers are all Luciferian, they actually are pedos.

Comm Bank did alright this week. 5.5 billion half yearly profit apparently.

 

[The DoggFather]

Comm Bank did alright this week. 5.5 billion half yearly profit apparently.

IIRC NAB made 4.6 billion also

 

[wendog33]

IIRC NAB made 4.6 billion also

Antiquated unfair system used to lever inflation? Banks are the beneficiaries.

 

[Memberberries]

PS have the Rothschild blamed climate change for interest rates yet?

stop being a conspiracy theorist, forget about Russia and go get your 5th booster

 

[The DoggFather]

stop being a conspiracy theorist, forget about Russia and go get your 5th booster

I'll only listen to you if you work for the government!

 

[Memberberries]

I'll only listen to you if you work for the government!

good one!
I told a random bloke last week at the yeeros shop before leaving that “I don’t do anything in life unless a computer tells me what to do”.