Lenders Wanted

VIC, $500K, Construction, Purchase, Full-doc, 95% LVR

Posted on 2/10/2014 4:50:26 PM

Hi,

I have a husband and wife couple.

They want to purchase land for $300k and borrow an additional $200k to complete construction and move into their first house. They currently live on rent.

The wife is a voluntary bankrupt from the end of last year. So I have run serviceability only on the husband and he does not have the borrowing power as I have to place the wife as a dependent.

Would any lender look at this deal with the wife as a current bankrupt on the loan as well? She has as a good income and the couple will meet serviceability if it is a joint loan. Where would the interest rate roughly sit at?

Kind regards

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  • Mary McGowan - MKM Capital8/10/2014 12:36:14 PM

    If the wife earns her own income, we would not assess her as a dependent. Please call to discuss on 1300 762 151 as we may be able to fund as a land loan.

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