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Donation Home Loans
www.donationhomeloans.com.au


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Can I refinance my loan and include my credit card debt?
(George, Templestowe - 24 July, 2003)

Hi George,

Yes you can.

This is a popular form a loan known as debt consolidation. Provided you have enough equity in your home we can consolidate almost any debt including credit cards, car loans and personal loans.

Call us on 1300 30 99 79 for further details
(Answered by: Mark 24 July, 2003)

Do you do finance for holiday homes?
(Andrew, Croydon - 24 July, 2003)

Hi Andrew,

Yes we can do finance for holiday homes. Lenders, in general, consider some country and rural areas to be of higher risk and therefore have stricter lending guidlines. For further details call me on 1300 30 99 79
(Answered by: Dave 24 July, 2003)

I have Australian PR status can I buy a property in Australia?
(Peter, Shanghai - 24 July, 2003)

Hi Peter

Yes you can. How much you can borrow and what loan-to-value (LVR) you can get will depend on the individual lenders policy.
(Answered by: David 24 July, 2003)

I am moving to Australia soon, can you do homeloans for new residents?
(Jen, USA - 31 July, 2003)

Hi Jen
If you have permanent residency status for Australia then there are no hurdles. If you are a non resident (eg temporary Visa) then you may be required to apply to the Australian Foreign Investment Review Board (FIRB) before purchasing a property in Australia. For further details please find the Australian FIRB website at www.firb.gov.au.
(Answered by: Mark 22 September, 2003)

Is the donation I make tax deductable (to me) ?
(geoff - 14 November, 2003)

Hi Geoff,

Thanks for the question.

You would only be in a position to claim a tax deduction if it was your money that was being donated. In this case the donations are made from the revenues of Donation Home Loans. We treat these donations as an expense to the business.
(Answered by: David 17 November, 2003)

can i borrow a high sum then the total of the homes price to pay my car and cards out aswell.
(david wright, tongala, aust - 14 February, 2004)

Hi, Some lenders are prepared to lend as much as 100% of the value or purchase price of the property. Most lenders will lend 90-95% on a refinance loan with one who will lend 100% and allow you to consolidate up to three debts.
(Answered by: Dave 16 February, 2004)

I own a property valued at $320,000. I owe $205,000. I also rent a flat at $900pcm. I want to know if i can let the rental go and buy another property with little or no deposit..i would have the extra $900pcm at my disposal
(mark, caulfield, melbourne - 29 September, 2004)

Hi Mark,
You do have enough equity in the property you own to fund the deposit and costs for a new purchase. We would need to see know your income situation to analyse your capacity to borrow. For further information please contact our office on 1300 30 99 79.
(Answered by: Dave 29 September, 2004)

I have an apartment in Docklands VIC and when I purchase it resale I was unable to finance to the level that I wanted due to the fact that the Mortgage Insurers would not handle Docklands Apartments.

I was wondering if this has changed, I would be interested in refinancing up to 90% of valuation. I have more than sufficient income to survice the loan.

I borrowed the extra money from family and want to repay this loan ASAP.

Also if there is any other way of financing the extra money I would also be interested in these options.

Thanks
(Dale, Docklands, Australia - 12 January, 2005)

Hi Dale,

The loan to value ratio (LVR) a lender will apply to the Docklands is dependant upon the location and size of the apartment. Another factor is the type of building as in number of apartments, number of floors and street address.

It is possible to do high LVR loans in Docklands but as metioned above it is on a case by case basis.

To assist further please email further details to info@donationhomeloans.com.au or call 1300 309979.

Cheers
Dave
(12 January, 2005)

Can a non-resident who has purchased land in Australia get a loan to fund construction of the dwelling on the land ? A lot of the websites suggest non-residents are excluded from construction loans.
(RM, London, England - 11 February, 2005)

Hi RM,

It is possible to arrange a loan for construction. The only requirement that will be different to an Australian resident is you will need to get approval from the Australian Foreign Investment Review Board (FIRB).

If you would like to arrange the loan we would be happy to assist you through the FIRB process.

Regards
Dave
(11 February, 2005)

I am currently living & working in Sydney on a 4 year sponsored working visa. I am looking to purchase a property, but am finding it difficult as most lenders are seeking a 20-30% deposit because of my non permanent status. I have a high disposable income, but little savings ..am i likley to find anyone willing to loan me a reasonable sum ($600-$700k) with say just a 5% deposit???

Many thanks
(Steve Norcross, Sydney, Australia - 24 March, 2005)

Hi Stephen,

We can think of three lenders who would consider your loan application.

Please call 1300 30 99 79 so I can collect more details and make the necessary enquiries

Cheers
Dave
(24 March, 2005)

Dear Sir or Madam,

I applied for permanent residency in Australia back in June 2004 so it is going to take just over a year before I receive the final decision regarding my status. I have found a house that I would like to buy but I am having a horrible job trying to find a lender who will grant me a home loan. I am in the high income bracket and have been working for 6 months in the same business as when I was in the UK. Do you know ANYONE who can help me purchase the property based on my residency status

Thank You
Chris
(Chris, Narre Warren, Australia - 24 March, 2005)

Hi Chris,

It is possible to find a lender to purchase the property. It will require an extra approval from the government but it sounds like you have a strong case.

Please call on 1300 30 99 79 if you would like us to assist you.

Cheers
Dave
(24 March, 2005)

I live in the geelong region and I am looking for a no deposit loan for a house between geelong and ballarat. I am having trouble with finding the lenders insurances will not insure the postcodes. Can you help?
(Lee-anne, geelong - 24 March, 2005)

Hi Lee-anne,

We believe the highest LVR you could obtain would be 90% and the interest rate would not be very competitive.

We would be happy to inquire further for you if you call on 1300 30 99 79

Cheers
Dave
(24 March, 2005)

hi, i am a single parent for past 4yrs, i have been a subcontractor since july last year, and earning good money, but need a low doc loan. my house is worth 54000 and i owe 23000 on it and another 6000 on cards, i want to borrow 43000 to pay off cards and current morgage and have some left over. is this possible
(nigel, collinsville, Australia - 24 June, 2005)

Hi Nigel,

Whilst mortgage insurers won't do lo doc in your postcode there maybe a couple of lenders willing to do a loan. I will email you a borrowing capacity assessment form to complete and return. We can then present the case to lenders to see what can be done. Cheers
(Answered by: Dave 24 June, 2005)

My friend and myself are planning to buy a house in sydney . We bothe earn over 50K and are looking for 100% financing option. I am a permanent resident but the second applicant (my friend is a temporary resident 4 year business visa wfich will be extended further on) Can you suggest me lenders who will be able to help us.
(mekhla datta, Randwick, Australia - 24 June, 2005)

We can certainly help with financing options but we cannot name any spceific lenders without knowing the purchase price of the proposed property. It would also be helpful to know your friends nationality as some lenders have pre-approved loan offerings for certain countries. Please call 1300 30 99 79 and ask for Mark.
(Answered by: Dave 24 June, 2005)

My husband and I would love to buy our first home but have difficulty saving for a deposit due to the cost of our rent ($230/week) we are entitled to the FHOG is it possible to get a home loan using only this to cover our deposit and possibly financials? We are looking at a home around the $200,000 - $250,000 mark?
Thanks alot Sharon
(Sharon Blank, Rutherford NSW, Australia - 04 July, 2005)

Hi Sharon.
Yes, it is possible to get loans for 100% and even 106% of the purchase price. The next step is to see if you will qualify for one of these loans. I will forward you a borrowing capacity form for you to complete and return.
Cheers Dave
(Answered by: Dave 04 July, 2005)

I have had pre-approval for a home loan to buy a place in the rural area of Eddington. We have had preapproval on a loan covering 95% of the property cost through BankWest although I have heard of other people having this pre-approval in rural areas and then being asked to actually come up with a 20% deposit to get the loan. Apparentley sealed roads etc all play a factor in this, can you give me some advice on the likelihood of a larger deposit being asked of me and what factors are considered by lenders with regard to this? Thanks
(Amy, VIC, Australia - 09 August, 2005)

Hi Amy,

Pre-approvals only cover your ability to repay the proposed mortgage. They do not take inot consideration the security property used. Often in rural areas lenders do not lend to 95% of the value of the property. I suggest you ask the lender what Loan To Value (LVR) ratio they can go to for your particular postcode. Each lender has a postcode listing which details the rules upon which they can lend in each postcode.

If you get stuck please don't hesitate to call us on 1300 30 99 79 to see if we can locate a lender for you.

Goodluck
(Answered by: Dave 09 August, 2005)

Hi, i'm a self-employed person and i'm looking for a low/no doc homeloan. Are their any lenders that will do a "no deposit" i.e 100%, low doc????
(Samuel Lee, Canberra, Australia - 09 August, 2005)

Hi Samuel,

We only know of a couple of lenders who will do a 95% lo doc loan. This means you will still need to produce a 5% deposit and costs.

If we can help please call on 1300 30 99 79.

Cheers
(Answered by: Dave 09 August, 2005)

I have $50000 personal debts but and would like to buy a house is there any organization that will lend us money consolidating the other $50000. I am looking on buying a house worth $350000 so need to borrow at least 400000 to pay the debts so we can just pay all the money into one loan only have a $12000 savings plus First home grant.
(ELVIE, Sydney, Australia - 26 August, 2005)

Hi Elvie,

We cannot consolidate your $50,000 in debts because maximum loans are at about 100% loan to value ratio. Your savings will also limit the size of your purchase because they must cover your costs to purchase.

Cheers
Dave
(26 August, 2005)

We currently need to buy another car and borrow some additional funds and have tried to refinance on our current home loan with our bank but they only borrow up to 85% of the loan and we are already at this stage. Also we have some listings on our credit file dated back to 2001 due to a debt refinance dividend payment we entered into. Another disadvantage we have is that my husband is employed with a recruiting agency and has been working full time from 31/5/05 to current but is classified as casual on the payroll. A bank has offered us a deal at 9.5% on a loan amount of $306,000, do you think we have any other options.
(Tracey Webb, JIMBOOMBA, AUSTRALIA - 26 August, 2005)

Hi Tracey,

Yes, there maybe some other options for you. Your interest rate will reflect your credit issues but a higher LVR is possible. I will forward you Borrowing Capacity Assessment Form to complete so we can look further into and provide an alternate loan proposal.

Regards
Dave
(26 August, 2005)

I purchased my apt in Feb this year and my partner who recieves his perm residency next year (curently on spouse temp visa) was not listed on it. He has been working for 3 yrs in Oz and has a stabe income. I would like to know whether I can get him on the loan aswell? My current lender did not consider it and I was told they were conservative on the lending criteria. Any help?
(Icen, St Kilda, Australia - 19 September, 2005)

It may be possible to add your partner to the loan, depedant on a few pieces of information. I will email you a "borrowing capacity assessment" form for you to complete so as we can give you a more accurate answer.
(Answered by: Mark 19 September, 2005)

HI.
I HAVE BEEN OUT OF AUSTRALIA FOR 7 YEARS, BUT WILL BE RETURNING IN NOVEMBER. I BELIEVE I HAVE LOST MY RESIDENCEY BUT I STILL HOLD A VALIED AUSTRALIAN PASSPORT, I HAVE ABOUT $200,000 DEPOSIT FOR A HOUSE BUT AS OF YET I HAVE NO JOB LINED UP. COULD I GET A MORTGAUE STRIGHT AWAY ? FOR ABOUT $350,000

THANKYOU FOR YOUR TIME..

Brian..
(BRIAN, warwickshire, united kingdom - 19 September, 2005)

Brian, there are a few options open to you as a "non-resident" the rate would be a little higher initially, but once you had established yourself in a job and have your residency back, we could move you into something more economical. Please email me directly if you would like some further specific information mark.odonnell@donationhomeloans.com.au
(Answered by: Mark 19 September, 2005)

Hi there, we have a minimal deposit $3000.00 and would love to buy a rural property as a hobby farm (we both have good stable well paying government jobs). Is there anyone who will lend to us. Also, with regards to the postcode. Is that the way lenders figure out rural status? As some places have the same postcode as big ciys but are definitely country areas ie. Nundle and Tamworth.
(Wendy, Moonbi, Australia - 19 September, 2005)

Wendy,
depending on where you are looking and the size of the property you may be able to get 95% We would need to know the value of the property, size and zoning. We would also need a borrowing capacity assessment completed which I will email to you.
(Answered by: Mark 19 September, 2005)

I have no debt, earn in excess of $80K in a Public Service job, am single and desire to purchase a rural (investment) property of 100acres or so on the central NSW coast. Given my repayment ability is their a lender out there who will provide 100% finance?
(Steve, Canberra, Australia - 19 September, 2005)

Steve, there are several ways you may qualify for this type of finance, I will send you a borrowing capacity assessment form for you to complete.We would need to know the specific postcode of the area and the price range you are looking in.
(Answered by: Mark 19 September, 2005)

I am a permanent visa holder and my spouse is a citizen. My credit rating in my native country is poor, but my spouse has superb credit. Is this going to affect us obtaining a home loan? Should he just apply individually? Do Australian banks get credit information from your native country?
(Kate, geelong/vic, australia - 03 October, 2005)

Hi Kate,

Credit ratings are not international so will have little impact. I see no problems with obtaining finance for you on that basis. If you are a permanent resident then the application is reasonably straight forward.

Cheers
Dave
(03 October, 2005)

I earn $525pw and my husband brings home on average $800pw (subject to overtime this can significantly increase). We owe $340,000 on mortgage. House estimated value around $390,000. We have other debts (total of 7) car, line of credit and credit cards. Including the mortgage we owe approx. $405,000. What can we do do consolidate into one repayment (and yes all the credit cards have been cut up) to start making things alot easier to manage.
(debbie, penrith, australia - 11 October, 2005)

Hi Debbie,

The maximum refinance we know of is 97% loan to value ratio (which includes lenders mortgage insurance). Effectively we can raise approximately $30,000 on you home loans allowing you to consolidate some of your debts. Will send you a borrowing capacity form to complete in order that we can better analyze your situation and suggest ways to reduce your monthly outgoings.

Cheers
Dave
(11 October, 2005)

I have been living and working in Australia for just over two years now (on a 457 Long stay business visa). I am just about to submit my permanent residency application and have sponsorship from the Victorian government. I have recently changed employer and because my new employer is aware I am about to submit a perminant residency application, they only applied for a 1 year 457 visa in an attempt to move the application along with immigration.
As I have decided to stay in Australia (and hopefully will be allowed to) my wife and I would like to purchase our own home. I earn around 100K per annum, but have virtually no saving. Property in the Melbourne metropolitan area is reasonably expensive and as I am married with two children it appears we would need to borrow somewhere near 400K to purchase a suitably sized property. Is this a realistic proposal given our current status, and if so how do we start the process? We haven't looked at any properties as yet.
(Ian Maskell, Melbourne, Australia - 05 December, 2005)

Before you are issued your PR you will find it difficult to obtain a 100% loan. You would be best to save as much as possible as most lenders will only lend between 70%-80% to non-residents.
(05 December, 2005)

My brother and I were looking into getting a no deposit loan to buy a house which we will both be living in. We have found calculators and the approval rules which we pass and can borrow up to $400k. After a phone call we found out that we can't get the loan because we are sibilings, even though we would otherwise be approved. We have lived together for the last 4 years and plan to for a while yet. We share each others income also. Are there any options for us?
(Troy, Brisbane - 05 December, 2005)

There are many lenders that will accept you both as applicants. The way they calculate how much you are eligible to borrow will be different though compared to a couple, meaning you find it is a little less.
(05 December, 2005)

My girlfriend and i would like to buy a house but are finding it difficult in finding anyone to lend us money as we have debts of $70000 which our repayments a month are $1419.We bring home after tax a month $5300.We save her weekly pay and have no problem doing this so why couldnt we use that to repay a loan she gets $530 a week.We are both Australian residents have clear credit files i have been at my current employer for 8yrs she has for 2yrs 2months.We have plenty of disposabal money left a week roughly $600 a week .Most lenders are saying to pay back our loans i realise this but we will never get to buy for at least another 2 yrs or so.We didnt mean to get that far in debt we were just young and stupid and we are really paying for it now.We are looking at borrowing a very maximum of $280000 we have a deposit of $7000 now but we are wondering if we could get a 100% or 106% loan so we could use our money to get set up,any help would be great,thank you Brendan.
(Brendan Hancock, Gold Coast, Australia - 05 December, 2005)

Currently you could possibly obtain a 100% loan of about $200,000. Your best bet would be to save a larger deposit and apply for a 95% loan. You would find you would qualify for a larger loan and the interest rate would be cheaper.
(05 December, 2005)

I will be moving to Adelaide in 2006 on a 3 year temporary SIR visa. Will I be able to get a mortgare? I will only require a 25-50% mortgage.
Thanks
Joanne
(Mrs J Short, Holmfirth, UK - 05 December, 2005)

You should have no problems at all obtaining a small loan such as this. Best of luck next year.
(05 December, 2005)

I am migrating to QLD on a defacto spouse visa in December. These visas carry a status of 'provisional residency' for the first 2 years. Once I have employment, would I be able to get a mortgage with my wife who is an Oz citizen? We would put down about AUD 70,000 deposit on a AUD 300,000 property. thanks, Alec.
(Alec, UK - 05 December, 2005)

You should be fine borrowing up to 80%. You would be best to apply once having completed any probationary period with you new employer.
(05 December, 2005)

I am a British Citizen currently a temporary resident on a 4 year business visa (457). My partner is an Australia citizen, who currently has a mortage. We would like to buy a home together next year. Am I able to get a joint mortage or do I need to become a PR?
(Samantha, Sydney, Australia - 05 December, 2005)

There is no need to be a PR however if you are in the process of becoming one it is a little easier. You may be able to borrow up to 80% depending on the strength of the application.
(05 December, 2005)

I am a pensioner and I have only a $15,000 mortgage on my $330,000 house - I would like to borrow $10,000 on the mortgage - is that possible?
(Carmel, Hazelbrook, Australia - 05 December, 2005)

Depending on the type of pension, the amount and any other outstanding debts you should be OK to increase the mortgage by $10,000.
(05 December, 2005)

my partner earns 55,000 ayear i am on family allowance 420 fortnight i have good credit history as i have 3 kids he has a unpaid default which will pay asap can we still get a no deposit home loan if we pay default out and loans we have which will then leave us with no deposit.
(glenda, bacchus marsh, australia - 05 December, 2005)

A 100% loan requires that all defaults be paid out for at least 6months. You would be best to pay out the default now and try and save as much as possible for the next 6months.
(05 December, 2005)

I have migrated in June'2005 and holding 457 visa. I am heading MNC IT company in melbourne.

Will I be eligible for personal loan ? If yes, then can you recommend the banks who offer loans.
(Sanjay, Melbourne, Australia - 16 December, 2005)

Generally speaking most lenders will grant a small personal loan based on your employment contract. The term may be shorter but you shouldn't have too much trouble.
(09 October, 2006)

Hi, I am a 31yo single mum with a 10yo daughter. I read on this website about 106% home loans.....can I please have some more info on who provides these? I earn 40,000 plus super. I get 133/ftnt family payments and 200/ftnt maintenance by direct debit. I am eligible for the FHOG and would like to use this for my deposit. I have $17k personal loan and $2k GE credit card which I would like to consolidate onto the home loan. I have been living out of home for 16 years and have everything I need, except a house! I have never missed a weeks rent and yet no-one will look at me for a home loan! PLEASE help..... thankyou.
(Brigitta van Aaken, Monash, ACT, Australia - 16 December, 2005)

There are 100% plus mortgage insurance loans available. The interest rate generally though is higher and therefore limits your borrowing capacity. Consolidating the personal loan and credit card into the loan isn't really an option when borrowing 100% as there isn't any equity in the property as yet. With clear credit you would be able to obtain a 100% loan but only a small one currently.
(16 December, 2005)

I am the holder of a spouse visa and I shall obtain my PR sometime middle of this year. My husband is Australian citizen and we are now living and working overseas. We bought an apartment recently in Docklands under his name because the bank would not give us the loan since I am not a PR yet. Is there any way to transfer ownership of the apartment under my name with him as the loan payer? What's the procedure?
Thanks.
(Yanny, Bangladesh-29 October 2005)
(Deli Yanny, Dhaka, Bangladesh - 30 December, 2005)

Hi Yanny,

You need to speak to a conveyancer or solicitor to arrange your name on title. If you do not have one in Australia please let me know I can can give you a some names.

Cheers
Dave
(30 December, 2005)

hi, iv'e been through a nasty seperation this year which has damaged my credit rating. i would like to buy a rural property in the mt pleasent (south australia) area and need to borrow as much against it as posible. i have a development company that started july 05. i'm expected to earn over $660,000 by the end of this financial year. i have $480,000 worth of subdivided blocks in a promenent part of adelaide which i owe $320,000 on. is there a lender out there whom could help me? cheers, tori
(tori - 30 December, 2005)

Hi Tori,

There are always lenders. It depends upon whether it makes commercial sense to use them. If you would like us to help suggest you send copy of Credit file with explanation as well as statement of assets and liabilities so we can assess your situation and make a proposal. Please fax to 1300 30 99 78 or email info@donationhomeloans.com.au

Cheers
Dave
(30 December, 2005)

Hi there, my partner and I are looking to buy our first home. we have a deposit of $50k but we both have unpaid defaults should we pay these first before applying for a loan or can we apply with them on there. Also I just started a new job paying me $900 a week and my partner earns $600 a week will we service for a loan for around $400k and beacuse I have only been in my current position for the past 5 months how will that effect it.

Thank you
Dave
(David Mathie, PENSHURST, AUSTRALIA - 30 December, 2005)

Hi Dave,
You would have to pay the defaults before a loan is drawn down. I recently did a loan where the loans were upaid at the time but it is preferrable if they are paid at time of application. Suggest you provide a copy of your credit file and explanation of issues so we can make a decision on how best to proceed. Our fax number is 1300 30 99 78.

Cheers
Dave
(30 December, 2005)

I am 26 with no dependants and earn over $70K a year in secure employment. I owe a total of approx $40K in personal unsecured debt. I have assets of car, furniture etc to approx $35K. Is there any possibility of receiving funding for a home loan in my current situation without a deposit? I have a very good credit rating.
(K Snape, Cairns, Australia - 12 January, 2006)

Hi Karley,

We would need to understand your monthly repayments of your existing debt and if you qualify for the First Home Owners Grant.

For a detailed answer we would require you to complete a borrowing capacity assessment form.

Please call on 1300 30 99 79 to discuss further.

Cheers
Dave
(12 January, 2006)

My wife and I brought a property in Port Kennedy Perth a couple of years ago, just as the property prices started to increase. The property was our first home and was only brought as an investment and has recently been values at $320k with $200k mortgage.
We are looking at moving to Canberra with my work and now we are in the decision making process whether to sell or rent out our property. (We will not be returning back to Perth)
My question would be, is it better to sell and use the capital gains to purchase a property in Canberra or to turn our house into an investment property and us the collateral to purchase a house to live in Canberra? Also understanding some of the Tax implications of renting out our house would be handy.

Thanks
Rob
(Robert, Port Kennedy, Australia - 12 January, 2006)

Hi Rob,

Either scenario can be successfully financed.

Factors to consider are capital growth projections for your existing home becoming an investment versus the resulting tax position of your two options.

If capital growth projections are good it could be worth keeping regardless of tax issues. Making money is always making money!

We cannot give tax advice but you may discover that selling and buying a home in Canberra and then buying an investment is a better solution from a tax position.

We suggest you seek independent tax/financial advice on this as everyone has different income/tax positions.

We specialise in finance structures for investors so if we can assist please don't hesitate call on 1300 30 99 79

Cheers
Dave
(12 January, 2006)

Hi my husband and I have 3 children and sold our home in Sydney we have no deposit and can't save due to the $500.00 a week rent we pay we would like to buy another home,can you tell us who does the 106% home loans in Canberra ACT thank you
(Lee, Weetangera ACT, Australia - 12 January, 2006)

Hi Lee,

There are a couple of lenders who do this. Best we have you complete a borrowing capacity assessment form to fully understand your position.

Will forward one via email for you to complete.

Cheers
Dave
(12 January, 2006)

Can you please tell me how a temporary resident in Australia can obtain a personal loan???.

My brother is on a 4 year work visa and has a permanent job in Qld. He needs to borrow money in order to get a vehicle and to put down a deposit on a flat, but no bank wants to assist.

We seem to be in a catch 22 as banking institutions here won't lend money as he now lives and works in Australia and banks there don't want to lend money because he is not a permanent resident???

Please help.

thanks
(Lorretta Jackson, Pretoria, South Africa - 17 January, 2006)

Hi Loretta,

Your brother would be better off getting a lease for a vehicle and possibly a cheap credit card (10%pa) for the rest of the money. He would need to be on a good income to afford all the repayments if he was to purchase a flat.

We can assist with the car lease.

Try Virgin or HSBC for the credit card.

There are some 95% non-genuine saving loans now available. So your brother would need a minimum of 10% of the purchase price to cover deposit and all fees, such as stamp duty.

If he wishes to progress please have in contact us on 1300 30 99 79 or email info@donationhomeloans.com.au.

Cheers
Dave
(17 January, 2006)

i am a temporary australian resident, trying to get a loan or a credit card. is there anyone who had the same experience and can give advice?
(carmen, melbourne/st.kilda, australia - 25 January, 2006)

From what we have heard applying for a credit card or personal loan is easier than a home loan. Generally with proof of income and a stable address you should have success.
(25 January, 2006)

I have had an ABN for approx 6 years but do not have up to date financials. I can at the minimum show 3 months steady income. My wife and I have previously owned a home, we have no loans, no credit cards and own our Nissan X-Trail out right. We have approx $25k and have been offered loans for established houses but would really prefer to build. We are looking at a Devine House & Land package with a fixed price. Will anyone be able to help us? We're getting increasingly frustrated!! Thanks!
(Tristan, Adelaide, AU - 27 January, 2006)

Hi Tristan
Lo Doc (no financials) Construction is difficult. Generally most lenders will only go to 70%-80% of the contract price. So you not only have to cover the deposit but the costs as well. On an established property (as you have already discovered) it is easier. By having financials you will be able to borrow more for construction purposes.
(27 January, 2006)

My partner has 1 unpaid credit card default on his file. We currently have a housing loan which we have had no payment issues with and 1 other credit card which is also ok. We are in the process of selling the house and will have about a $30k deposit for another.The default will be paid out on settlement of the property.He has a transient employment history however I have a 12 year stable job. Will the major banks have issues with this?
(Joanne, Stafford, Australia - 27 January, 2006)

Hi Joanne
Generally the size of the credit card default will determine the Major Banks view of the default. As it will have only been recently paid out will also make it difficult, but not impossible. Your employment is great however casual employment needs to be supported by as much information as you can offer. Good 2 years tax returns is extrememly helpful and if the income is supporting income to yours (not the main source of income) even better.
(27 January, 2006)

I'm an Australian citizen and my husband is English with a provisional spouse visa that is currently being assessed for permenant residency. we have been back in the country for 2 years and are looking to buy a home. we have had several lenders say we can't get a loan that requires lenders mortgage insurance. is this the case?
(Rebecca, Hunters Hill, Australia - 30 January, 2006)

Generally speaking this is the case. There are exceptions to every rule though and it is possible to find a loan above the 70%-80% threshold most lenders have. Ultimately though each application is based on it's own merits and although not easy it is possible.
(30 January, 2006)

Hello there!
Me and My wife would like to make a personal loan to buy a car from a private seller and we only need AU$8000,00. We work for the same company. We earn $1.112,00 per week. We don't have kids, pets, debts or any other financial responsibility besides our rent of $320,00 p/w.
But (here comes the tricky part) We're on temporary visas (valid till Aug 2007).

But (here comes the good part) my boss agrees to authorize direct debt from our pays and he also offered to be a personal guarantor for the loan.

For obvious reasons we're looking for a 6 months to 1 year repayment time.

Is there hope for my case out there???

Cheers,
Marconi

P.s: Another quick one, Can a non-permanent resident buy property (land) in Australia?
(Marconi, Sans Souci/NSW, Australia - 30 January, 2006)

Your best bet for a small loan like this is to:
A. Apply for the loan on line (eg, ANZ or Westpac)
B. Visit a local branch (possibly even where your employer banks)
C. Apply for a credit card with an $8,000 limit

A Non-Permanent can purchase property in Australia however there some limitations and formal applications you need to make to be approved to do so. See this website: http://www.firb.gov.au/content/faq.asp
(30 January, 2006)

Do you operate in Western Australia
(Beth Ward, Mandurah Perth, Australia - 28 February, 2006)

Hi Beth,

Yes we have Loan Writers who can represent us in Western Australia if you prefer face to face or we can work directly over fax and phone.

Please let us know your preference.

Cheers
Dave
1300 30 99 79
info@donationhomeloans.com.au
(28 February, 2006)

I would like to know if you lend money to people who are Centrelink Pensions wanting to buy their first home. I am looking for finance to buy a home for my 2 daughters and me so they can have a better life.
(Melissa, Riverview/Ipswich, Australia - 01 August, 2006)

Some Lenders do accept Centrelink Pensions as the main or only source of income as long as it is a permanent or long term pension. However lending may be restricted to 80% of the purchase price.
(01 August, 2006)

I a, a single mother of one and currently work full time - although i do not have a deposit and my salary is $30,000 per annum is there any chance i would be able to get a home loan
(kerry marks, doveton/melbourne, australia - 01 August, 2006)

There are 100-105% loans out there but they are difficult to qualify for. How much you were able to borrow would also depend on what other debts or credit cards you had as well.
(01 August, 2006)

hi, me and my husband having a sir visa holder.we moved here for 3 months back we both are working.we want to buy our own house.can u suggest me how much loan can we take from the bank to buy house range between $10000 to $20000
(Aman, South Australia, Australia - 01 August, 2006)

For Non Residents of Australia most lenders will lend up to 80% of the purchase price and may require Foreign Investment Review Board approval. Website: http://www.firb.gov.au/content/default.asp
So for a purchase price of $200,000 you may be able to borrow up to $160,000.
(03 August, 2006)

My wife and I are here in Australia on 4 year work visas that expire in Dec 2009. I have stable employment and we are looking for a personal loan to pay for university for my wife. I would have no problems paying any payments in the time our visas and my employment contract run their course. We have been having difficulty because the university wants approximately 15000AUD in one lump sum. Are there loans available to visa holders within the time frame of the visa for non residents?
(Isaac, Stockton, Australia - 03 August, 2006)

We believe that the Westpac Bank may have an option for you in the form of student loans.
(03 August, 2006)

I would like to enquire about a loan of $90000 for a block of vacant land in Cookernup, WA. I have found it very difficult to get a low deposit loan because i am single and only earn $36,000. All these institutions talk about no/low deposit loans but you have to have a partner and buy a plastic house in the suburbs to qualify.
Are there any options for me
(Jon, Cookernup, Australia - 03 August, 2006)

Given the area you may find the maximum loan amount would be 95% of the purchase price.
(03 August, 2006)

Hello, i am from New zealand been living here for one year working for 10 months, earn 831 b/tax plus also over time varies.. Signed up with bank of queensland because thay told me i would get a loan with 6mnths saving with them which i have just done. But after applying was turned down for personal loan and credit card and told there is no way i could get credit being from nz and not australian resident, can you please help with this problem? Jason
(Jason, Melbourne, Australia - 03 August, 2006)

We believe you may find you have more luck with Credit Unions or the Bendigo Bank.
(03 August, 2006)

Just a question, we are both undischarged bankrupts, however, we may have been a bit premature in going bankrupt! We are now back on track financially, and want to know if we can get a loan for a new car. We had a small business in transport, but struck financial difficultys due to cashflow problems. We have a deposit saved for a new car.
Regards
Greg and Josephine
(Gregory/Josephine, Castlemaine, Australia - 03 August, 2006)

Yes it may still be possible to obtain a car loan. There are some restrictions though.
(03 August, 2006)

we are on a 4 year buisness skills visa about to apply for perm res as our 2 years of successfull trading and emloying staff etc have just passed, we have accounts but want to borrow more than 85% to purchase a property in another state as we are expanding the buisness, could take 6 months plus for perm res anyone lending more in our circumstances now?
(v muldoon, adelaide / and qld, australia - 03 August, 2006)

We would require more information to make enquiries but it may be possible. Where would you be purchasing? Are you able to provide full financials? And confirmation you have applied for Residency.
(03 August, 2006)

Wow, your response is fantastic!
I got our last question wrong, we have an approval in principal. Is this the same as a pre approval?
(P. Marshall, Mildura, Australia - 04 August, 2006)

Yes, it is the same thing. Good luck with your loan!
(04 August, 2006)

My husband and I have just received a pre approval to buy a home. Does this mean we have the loan or not? We have clear credit here but paid defaults in New Zealand (we have been in OZ for nearly 2 years).
(P. Marshall, mildura, victoria - 04 August, 2006)

Generally speaking a pre-approval means the Lender has completed a CRAA check and it has been satisfactory. I can't confirm this as I am not sure what process you have followed to obtain the pre-approval but most likely it will now only be subject to the property being satisfactory, a valuation of the property and Mortgage Insurance
Approval.
(04 August, 2006)

i have debts of around 35,000 what are the chances of buying a house in bacchus marsh vic. for around 190,000
i earn 1,400 p/f
(d.carroll, king meadows, australia - 11 August, 2006)

We would require more information to give a true estimate.
(11 August, 2006)

Hi,

I'm a single mother with 2 young dependants (ages 33 and 13 months old). Currently my only source of income is a single parent pension and family tax benefits (totalling approx. $900/fortnight). My sister has promised she will gift to me $50000 for a home deposit, but unfortunately I also have a $37000 credit card debt which I raked up when I stopped working to have the kids, plus a further $25000 in HELP Debt while I studied at university. Is there a home loan lender who will loan to me for construction of a home, and if so approx. how much (I also qualify for the FHOG)? I have an excellent credit file (I've recently obtained a copy from baycorp with no defaults etc.). I'm looking to return to the workforce right now on a part-time basis. What financial advice can you offer me?
(Kim, Bendigo Victoria, Australia - 11 August, 2006)

It would be difficult. It would depend on how much you wanted to borrow and the location of the property. I feel though you would have a better chance purchasing an established property rather than constructing at this point in time. If you obtain a permanent part-time job you would have a better chance. There are a lot of factors that would how much you would be able to borrow. The large credit card debt will impact your borrowing capacity.
(11 August, 2006)

In 1999 My Mother inlaw & her defacto asked my husband if he would be Guarantor for them on a home loan as her defacto had left a 20yr job with the navy & she only worked part time. They had the deposit but no stable income. As my husband had been in the same job at this time for 9yrs. Then about 8mths into the loan he started to get calls from the bank saying that the house repayments were late so he went back to the Conveyancer & had his name taken off the loan as he did not want a bad credit rating because of them.
Now its 2006 & we would like to buy our own home and have just found out that his name (my husabnd) is listed at the state revenues office on their title deeds.
So now were not entitled to the FHOG. We never lived in this property nor paid money towards anything. And even after he took his name off about 6mths later they split and the house got sold and he still got nothing not a cent. A broker on our behalf rang the state revenue office and explained our situation & they said if we got the banks finance contact, bank statements and a stautory staement from his mum then they might concider it.
My husband said that he only signed about no more then 3 papers, And he said to the Conveyancer that, he was having nothing to do with the house just helping them get the loan and he said yes.
PLease help us as its unfair that we have never owned a home and have always rented & our children aged 6 & 3 deserve a stable place to call home. My husabnd is still employed in the same company now for 16yrs and earns over $1000 a week. We have $10000 deposit and with the FHOG makes it $17000, Otherwise we have to pay stamp duty etc and get morgage insurance.
How can we do something about this terrible mess????
Very much looking forward to your reply asap
(louise, central coast, australia - 11 August, 2006)

An option maybe to approach Legal Aid and ask if there is any other option in terms of making an arguement to the government regarding the FHOG.
(11 August, 2006)

My partner is english on a 457 visa I am a New Zealander our combined income is approx 120,000 would we qualify for a 100% mortgate or any mortgage for that matter?
(Kirsty - 11 August, 2006)

It would be very difficult. At least one of you needs to be an Australian Resident. For Non-Residents most lenders will limit the borrowings to 70%-80% of the purchase price.
(11 August, 2006)

I moved to oz from nz 2years ago and wish to buy a home but i have paid credit problems in nz. i have a good job and great credit here, will the banks check my nz history
(jude, Irymple, australia - 24 August, 2006)

Hi Jude,

I doubt Australian lenders will investigate credit issues in NZ. Most lenders will consider an application with paid defaults more than 2 years old. I know we could arrange the finance with a suitable lender. Please contact us on 1300 30 99 79 so we can propose a lending solution.

Cheers
Dave
(24 August, 2006)

I am currently an undischarged bankrupt, mainly due to debt from break up of my marriage. My mother has been diagnosed with terminal cancer and I take her for palliative chemotherapy. Unfortunately, my car is having major problems. I have recently purchased a second hand engine, but that is now out of warranty and playing up. I can trade in my vehicle in its current conditions for about $1000 but to get a decent vehicle to take her to chemo and also for me to get to work need to borrow about $2000. Is this possible.
(Jen Barrymore, Kariong NSW, Australia - 24 August, 2006)

Hi Jen,

What you are after is a personal loan (or a cheap credit card). For a loan this size it is often easier to arrange a cheap credit card (8-10%pa interest) than to arrange a personal loan. You might try virgin credit cards as a starting place
Cheers
Dave
(24 August, 2006)

We have a default for $1600 that was paid two years ago. Will that stop us from being able to get a credit card?
(Lauren - 24 August, 2006)

Hi Lauren,

I imagine you could still get a credit card. We do not arrange those unless we are arranging a home loan for a client and they would like a credit card as an extra. Search for "cheap credit cards" on the internet or try someone like Virgin or Citibank.

Cheers
Dave
(24 August, 2006)

I am a UK citizen married to an Australian citizen. We married and I moved to join him here in Queensland last year together with my son last year. We bought a property prior to my being granted a provisional residency visa. I was told at the time that even though I had put a substantial deposit into the property my name could not be put on the title deeds because of my then residency status. Now that I have been granted a provisional residency visa I should like my name to be placed on the deeds of the house for security purposes and should like to know if this is possible and how this can be done?
(denise, Queensland, Australia - 24 August, 2006)

Hi Denise,

You will need to go and talk to a Queeensland solicitor to assist with the transfer of title to include your name.

Cheers
Dave
(24 August, 2006)

What paper work do you need for pre-approval. how long should it take for someone to process application (for you to get an answer).
(peggie-sue, ipswich, australia - 24 August, 2006)

Hi Peggie-sue,

To obtain a preapproval is the same paperwork as for a home loan except we do not identify the security (home) as it is usually unknown at time of application. It is a good idea to have a preapproval when shopping for a home because it can help you negotiate with confidence.

Cheers
Dave
(24 August, 2006)

my husband has a personal loan of $2000 he only ows $1200 does he have to pay this out in order to get pre approval of 106% of home loan.
(peggie-sue, ipswich, australia - 24 August, 2006)

No there is no requirement to pay out any existing debt. The lender will look at your ability to service a 106% loan including any existing debt
(Answered by: Dave 24 August, 2006)

Hi.

Great to see a company looking to support the 'triple bottom line' in a practical way.

Looking at your list of community partners and payments made, I noticed a range of Christian organisations as well as the Holden Sporting Car Club.

I think what you're doing is very positive but I do have some questions:

* how do you decide which organisations to support? Is it a personal decision or do you have an objective process?

* is the company a Christian organisation? If so, should this not be stated somewhere on the site?

* why is the Holden Sporting Car Club supported? Is this due to personal interest by the founders or is there another reason?

Thanks,

Steve
(Steve, Northcote, Australia - 24 August, 2006)

Hi Steve,

Thanks for your words of encouragement.

Please see answers to your questions below:

Organisations we support?

We ask the customers to nominate the non-profit organisations they wish to support. At the loan interview with the clients we request they complete a nomination form. When we receive the gross ongoing commissions for each client's loan, we donate 50% to their nominated non-profit organisation. The client may chose any non-profit they wish. There is no requirement to chose from our donation list. We track all of the nominations and commissions in our donation system which we had specifically built to manage the donations process. I trust you agree this is as objective as we can make it.

Personal Decision or objective process?

I trust most of this is answered in the above save for the reasons we choose to do it. Both Mark and myself (founders and directors) are personally involved in non-profit organisations. Mark is chairman of the board of trustees for Victorian Animal Aid and I am a volunteer firefighter with the Victorian CFA. Yes both these organisations promote our business, resulting in their supporters using our service and nominating those organisations to receive the commission from their loan, resulting in more donations to those organisations. We encourage non-profit groups to promote Donation Home Loans as a fundraising opportunity, so that in the same way their own supporters will use the service, nominate the group and generate donations for it.

Christian Organisation?

We are not alligned to any religious organisation. The personal religious choices of our staff and clients are many and varied.

Why do we support the Holden Sporting Car CLub?

One of our clients has nominated this club to receive donations. Mark and I do not drive holdens!

Cheers
Dave
(24 August, 2006)

My husband and I are wanting to purchase land, west of Ipswich, near lowwod ( approx value $130,000) , pay it off for a year or so ( if we have to, to gain equity), then build a home (approx value $250 ,000). We have owned a house before and have a deposit of $5000. We have no savings history and our credit history is blemished with 2 court judgements - on my husbands credit report..,both paid recently, and a couple of paid defaults, eg phone bill. My husband has worked for himself for the past 15 years, and has recently started a fulltime job bringing home $1000 p.w after tax etc.. I am unemployed and get Family payment of approx. $400 p.f. We have no credit cards, and one car loan with balance of approx $30,000. We own my husbands ute, approx value $30,000. Can you please advise how much more deposit we will need, and who may lend us the funds to build our home..
thankyou
Sharon
(Sharon, Brisbane, Australia - 24 August, 2006)

Hi Sharon,

Given your credit history you may only be able to get a 90% loan. That means you would need to save a 10% deposit plus costs. I calculate this to be $14,500 to purchase the land. The only true way to know is to go through the applicaiton process. There is no cost to do this. If you wish to know for sure please call 1300 30 99 79.
Cheers
Dave
(24 August, 2006)

im moving to Australia in december with a temporary spouse visa, i will not be a PR in 2 years but i need to get a loan to assess my skills, my husband is an Australian citizen but is still payng a loan for a car, is there any way i can get a loan?
(Ingrid, Victoria, Australia - 24 August, 2006)

Hi Ingrid,

I am not sure what you mean by assess your skills. And I am not sure for what purpose you need a loan.
If you mean getting a good credit score... In Australia we only have negative credit reporting. We do not have positive credit reports as can be found in countries such as the United States. There is no benefit to creating a positive credit history in Australia
Cheers
Dave
(24 August, 2006)

Hi there
I am just after the best way to get a bad credit car loan?
i am going throu a very messy seperation i've had my car repoed and have un paid credit defaults they were around 90,000 now do to about 30,000 and i have been trying to get some money together to buy a car to get work that i do best my current job is only casual and my ex has put a dvo on my for callling her a name and have not got any right to live in the house so i've movede to nsw to live with my parents in order to try to get on my feet but i'm going no where i have to wait for the settlement to come through but do not know how long this will take as i can not get a solicitor as they cost to much and will not deal with queensland family law from here have no kids got a house and block of land we owe approxamatly 170,000 the house is valued at 260 to 290- the land is valued at 160-190 could you please give me some advise on this if you can
kind regards Jamie
(jamie, riverstone, australia - 28 August, 2006)

Not impossible but we would need some more information in order to assist you. The best option would be to raise the funds against the existing home and land.
(28 August, 2006)

Im looking to get a loan to pay for course for overseas trained dentists to get my dentist degree in Australia, my husband is still payng for a car loan, and will not be a PR in my 2 first years...is it posible to get a personal loan?
(Ingrid, Victoria, Australia - 28 August, 2006)

You may find GE Money is able to assist you with a loan.
(28 August, 2006)

Hi, I went thrpough a mortgae broker about 4 weeks ago to conslodate my debts. I was refinanceing a house, credit cards, car loan and a few personal items. I got a phone call saying that th eloan had been approved and they were sending me the paperwork. 7 days later, the broker rang and said that they had reconsidered the loan and decided they were not going to give it to me. I was devistated. Can they do that. tell you one thing and then tell you another?. my problem is that we are on 120acres and a low doc loan as my husband is self employed. Is there ANY lender out there that will loan on this criteria?. Looking forward to your response.
Lynda
(Lynda, kimbriki, australia - 08 September, 2006)

Depending on the value of the property and how much you were looking to borrow we would be able to find you an option. Generally though it is very unusual to have a loan withdrawn once approved.
(08 September, 2006)

I am a Temporary resident (422 Visa) since January 2005 for 4 years. I am in the process of obtaining the permanent residency but haven't lodged an application yet. I have a good income now. Is it possible to get a home loan with 5% deposit or less.
(Osmand, Epping, Australia - 08 September, 2006)

Once you have lodged an application you may have a better chance of obtaining a 95% loan. At present generally the most you can borrow would be 80%.
(08 September, 2006)

Hi,

I will be relocating to Australia in the very near future on a 457 temporary residency visa. My family group consists of myself, wife, and three daughters. I will be in the market to purchase a home somewhere in Perth, and currently have about AUD 250k available for this. I´m transfering from my home country to Australia, and will be working for the same company, making about 70K a year plus bonus/overtime which may take it up to 90-100k a year. I´ve been doing some research, and a property that suits our needs will cost us between 450-500k. Will we be able to get a loan? If so, can we start applying for a loan as soon as we arrive, or do we need to reside in Australia some time before applying?
Thanks in advance,

MR
(Mario Reyes - 08 September, 2006)

Yes you would be able to apply for a housing loan. You would be able to borrow between 70%-80% of the value of the home. You would be better off having 3months in your job before applying but it can be done sooner. Feel free to contact us once you arrive here in Australia
(08 September, 2006)

Hi, My wife is in need of lap band surgery which is available either through the public hospital system with a waiting list of anything from two to ten years, or privately, which she could have done now at a cost of $10,000.
She has early signs of diabetes and heart disease so she needs this sooner rather than later.
We are both on pensions. I am on a disablility pension and she is on Carers pension and Allowance. Do you know of any financial lenders or other organisation who may be able to help us finance the $10000 so my wife can have this operation asap.
Thanks
(Craig Smith, Whittington, Australia - 08 September, 2006)

Hi Craig, We may have a solution for you. I will forward the name of a Bank Contact to you that may be able to assist you.
(08 September, 2006)

My husband and I have had change of plans. We have decided to purchase an established house now, and use it as an investment home later. The purchase price will be <$250 000. My husband has 3 judgements on his credit report, that we are able to remove with a notice of discontinuance. The creditors have agreed and it is in the process now. The only blemish then will be a telephone default ( paid) of approx $400.
My credit history has one telephone default of approx $600 and two GE defaults one is $1600 , the other is $700, all paid.
My husband earns $1000pw Net, and I am unemployed and received $400pf family allowance. The only debt we have is a car loan which we pay $800pm.
My question is, is it possible for my husband to obtain a loan in his name only, if my credit file will effect the interet rate etc? Can you also give me some idea what the interest rate will be and the deposit needed for this loan amount?
thanks
Sharon
(Sharon, Brisbane, Australia - 08 September, 2006)

Based on the information you have provided you may be able to obtain between 80%-85% of the property value. The interest rate would depend on the view of the defaults by the lender. More likely in the 8%-8.5% range.
(08 September, 2006)

Hi there,

I am a 34yr old single mum and I work full-time in a secure job. I earn $36000 per annum plus super. I am hoping to obtain some kind of loan as I have debts to family and friends as well as some outstanding bills. I have one unpaid default for $2500. I have contacted lenders through email who advertise as bad credit friendly but it is proving difficult. I had a great credit history prior to my ex requiring urgent brain surgery. I had paid off two personal loans,each $4000 each and one mastercard. All credit was through major banks. Is there any hope for me? I want to pay off my debts so I can start again and get back to where I was prior to his illness.

Thanks
(Tracey Edmonds, ACT, Australia - 14 September, 2006)

I believe that GE Money may be your best option as I have heard that they will look at bad credit personal loans.
(14 September, 2006)

Hi! I'm wondering what finance company would be able to help me and if i would be sucessful in getting a personal loan of $5000.00. I currently receive Centrelink benifits and work 8 hrs per week in school terms a total of roughly $1200 per fornight with all this income. I have 2 children and have been living with my parents for the last 9 mths before that i was renting for 4 yrs. I was sucessful in receiving a car loan through Esanda in March this year. However i have had a bad credit rating due to my sister but this is no longer showing on my credit file. I have received my credit file only to find that when i put the phone on for my mother in 2002 she did not pay the finial bill until 3 mths after the due date so this is now showing as an overdue account but has been paid this will be removed next year. I have contacted my bank Westpac to apply through them and they said that i wouldn't be sucessful if i had any overdue accounts listed. When i went for my car loan this was not a problem to them as it was paid.
What can i do i wan't to get my credit rating looking good as in the future when i return to work fulltime i want to buy my own home. I certainly know that i will not put anything in my name for anybody from now on as i have had to pay the price for the last 10yrs.
(Vicky Clarke, Buronga NSW, Australia - 14 September, 2006)

Hi Vicky
There are people that can help you with cleaning up your credit file. I will send you an email direct with his contact details.
(14 September, 2006)

hi im a single mum of two young children aged 11mths and 3 yrs and im looking to purchase my own home but only have income from centrelink being the pension and family tax benefit with no debts of any kind is it possible for u to give me any advice as to wat i can do please?
(fiona prosser, yarloop, australia - 14 September, 2006)

It would be very difficult to obtain a loan on this basis.
(14 September, 2006)

Hi, I currently have a part nine agreement which im about 6months into paying $210 per week, the balance was $54,600, I want to know is there any lender who would lend me money to buy a new car, I earn a good wage of $70,000 per year. I would have defaults on my credit history but they are being paid with the part nine agreement could you suggest any lenders that may help Thanks
(Renae, Melbourne, Australia - 20 September, 2006)

With your current part nine agreement you would be able to borrow for a car but there are restrictions on how much you are able to borrow.
(20 September, 2006)

I have separated from my husband and as payout we decided to help the kids and me in still owning a home by putting that payout which was aroudn 90,000 into the 280,000 loan then me and the ex would be part owners of the property I would rent it out which would be half of my loan to repay whats left and some to his loan he took out to buy this house. Anyhow the problem is title how do I now get the title to have my name also on this property since my payout is stored into this house and I am making payments through the rent I pay.
(Kerrie Hutcheon, Melbourne, Australia - 20 September, 2006)

If your X-husband is the only name on the loan, you would need to refinance the loan to have you BOTH listed on the loan and then have a transfer completed by your solicitor to have your name placed on the title.
(20 September, 2006)

I am looking for a lender that will do a low doc construction loan, providing over 85% on the LVR. Can you advise me a list of lenders?
(Joe, Eudlo, Australia - 20 September, 2006)

We would require more information to answer your question. Is this for owner occupied purposes? Is it an owner builder project? What area are you looking?
(20 September, 2006)

Hi Dave,

I am a single parent of 3 and am just completing my DIP in Software Development. My earning capacity is approx $900 per fortnight (pansioner benefit payment) and want to know if there is anyway I can obtain a home loan. I have no outstanding debts and a good credit rating (via baycorp) but I also have no deposit and with the tight laws about how much money a single parent can hold without it affecting the benefit payments don't see that I can obtain a deposit easily. I do have credit cards to the value of $5,500.00 but don't use them.
(Andrea, Gorokan NSW, Australia - 20 September, 2006)

100% loans generally require the applicants to have strong full-time employment. You would find it very difficult to obtain a loan without it as the moment.
An other option may be to investigate a reputable Vendor Finance option.
(20 September, 2006)

I am a temporary resident, married with two children, who are all Aus Permanent Res.. I'm here for 5yrs, working fulltime to support my family, the wife earns family allowance. I just need money to help with my papers, and a family car. Can you help us please.
(Naituli, Sydney, Australia - 25 September, 2006)

You haven't mentioned what type of loan you require but if you are both working you should have no problems obtaining a 95% home loan.
(25 September, 2006)

My husband is a temporary resident here in Australia. Myself and our two children are Australian Permanent residents, currently New Zealand Citizens.. He has a total of 5 yrs here and two years remaining. He works fulltime being now 3yrs. We are renting at 275pw and no credit cards or anything any debt..We are wanting to apply for a loan, just to help with his application and maybe a family car. Both our salaries put together would equal around 49,000..Please we would like to know if we can apply for a personal loan..

Thankyou


Petrina Clarke
(Petrina, Bass Hill, Australia - 25 September, 2006)

As a temporary resident it will be difficult however as an Australian Perm Resident you should have no problems.
(25 September, 2006)

Greetings,
We would like to purchase a rural zoned (1A) property in Cobargo NSW as an investment by way of a 106% loan,but have been told by a number of lenders that they will not lend that amount because Cobargo is 40km from Bega the major town.
Do you know of any lenders who can accommodate our needs? I gross 74k and my wife 24k .We are selling our Glenning Valley house but will not receive much from the sale,we will rent for a couple of years then hopefully relocate to Cobargo.
Regards.
Kevin Robertson.
(Kevin Robertson, Glenning Valley, Australia - 25 September, 2006)

Sorry we haven't been able to find anyone that would be able to finance your purchase.
(25 September, 2006)

single mum receiving pension only and currently paying off two debts one i currently have for 900 the other is 2500 both of which I am currently paying ontime and haven't defaulted yet joined monthly payments of boths loans totally 3500 is just under 500 per month which is what someone pays when they have borrowed 30,000. Im looking for a lender to consolidate these debts so I have one monthly payment covering everything. I am currently looking at 5000 which will pay not only all my outstanding accounts but also update funiture etc and things needed for the house... Is there any lenders around who help with this
(michelle, budgewoi, australian - 25 September, 2006)

You may be better off applying for a credit card or I shall send you a name of contact you may call.
(25 September, 2006)

My husband and I are currently renting, we would love to purchase our own home soon, He has a full time job and making close to $1000 a week, I do not work but get centrelink money. we have four children. I will be getting a job next year. Our credit ratings are not the best. What's our chances of ever buying our own house in the near future?
(Shelley, Brisbane, Australia - 25 September, 2006)

The amount you would be able to borrow would depend on your credit issues. Minor credit issues such as small Telstra defaults can often be over looked.
(25 September, 2006)

Dear DHL,
it is with desperation that i am submtting this inquiry. Following my recent divorce I am left homeless and penniless, and trying to rebuild my life I've attempted to apply for a small personal loan, unfortunately, all previous credit cards, various loans were under my name but used by my ex-partner, thus it has been extremely difficult for me to be eligible for any kind of loan as my credit rating is worst than poor. I work as a technician with a tradesperson, earning $750-$1000 / week (cash in hands) depending on how busy his business is. I don't have Tax assessment notice nor tax returns whatsoever, only a letter from the employer. Please advise on my options, and propabilities to be eligible for a small loan? I urgently need to borrow $5000-$7000 to get my self an used car, rent (in arrears), basic needs for a decent living....I appeal to your expertise to help me find financial help in the shortest delay. Sincerely Yours, Jason B.L.
(Jason, cabramatta, australia - 25 September, 2006)

There may be options for you. We will have someone contact you.
(25 September, 2006)

Hello,
I am wanting to borrow $165,000 for a block of land in the Blue Mountains. I have been employed with my employer for the past 3years and earn after tax $732 per week. I have an unpaid default of $400 (Telstra Bill) from 3years ago. My
fiancé is a temporary teacher earning $600 per week after tax. We have a credit card that is to it's $7,500 limit but paying it off.We can get $10,000 deposit(from parents) but want to know if we can get this loan with zero deposit if possible.Is there any one to help with this loan for the both of us?
(Greg, Sydney, Australia - 26 September, 2006)

The most you would be able to borrow for vacant land is 95% and you would need to pay the Telstra default.
(26 September, 2006)

hi, i am a 28 year old single father of a 4 year old daughter. i have recently secured full time employed at a local university and earn $1480 per fortnight after tax. my problem is that a few years ago i was charged with some driving offences which resulted in loss of licence and fines totalling about $3000. at the moment i am living comfortably however i would like to clear my fines in order to initiate my licence restoration. heres the problem, i have an ordinary credit rating with a few default payments totalling around $2000. my current employment is secure but the credit rating factor has led me to a dead end. any advice would greatly appreciated.
(brett couzens, geelong, australia - 03 October, 2006)

Your best bet at this point may be to contact GE Money. They may be able to assist you depending on the defaults you have outstanding.
(03 October, 2006)

I'm needing to refinance home loan of $110.00...property value $180.00...I'm on a disability support pension, am 50 yrs of age and would love to stay in my home...Who will refinance a pensioner?
thanks Stena
(Stena Keys, Sisters beach, tasmania. australia - 03 October, 2006)

There may be a couple of lenders that may be able to assist you. I shall forward you some details
(03 October, 2006)

im currently on a carers pension looking after my mum unfortunately she has a multiple scliroscis im in desperate need of a personal loan am i entitled to get one are there banks out there that will assist me
(Sam - 03 October, 2006)

There may be an answer for you. I will send you some details.
(03 October, 2006)

my partner currently has a bad credit rateing due to a mobile phone bill a few years ago but was able to get a car loan through esanda about 2 years ago. he still owes about 10 000. he has a full time job that he has had for 3 months now. i am currently receiving family tax benifit. we were hopeing to get a personal loan of about 5000 but didnt know the best place to go to apply for this. is there somewhere that would loan this to us with our current fortnightly income of about 1500?
(fiona, kiama, australia - 09 October, 2006)

You may find that your best best at the moment may be GE Money
(09 October, 2006)

Hi there I am a working single mother looking to break into the property market. I earn $1550 per fortnight with fulltime employment and $160 per fortnight from centrelink, I have a car loan which the repayments are $380 per month and a Debt 9 Agreement which I am 8 months in on $140 per fornight repayments. Am I dreaming???? Will I be able to borrow anything? I would like to purchase a unit for about $150000 in South West Sydney.
(Melinda, Camden, Australia - 09 October, 2006)

You would be required to pay out the Part 9 Agreement requirements before the loan could be settled.
(09 October, 2006)

I am currently under a part 9 agreement I have $18,000 left to pay I pay 520 per month back to that. I could have been a bankrupt but decided i should face up to my responsibiliies. Im not stupid as far as money goes just had some difficult situation thrown at me. I pay my rent on time have no other debt at all other than the 18,000. I have a secure job always with opportunities to increase my income. I want to purchase a property I am happy to pay whatever interest rate, happy to have maximum mortgage insurance and anything else that it takes to get the loan. I am eligable for new home owners grant. I want to purchase a property in the port adelaide area that is currently undergoing a major redevelopment plan properties in this area are gaining value by the day. I Can and will keep to the payments of the loan. I earn approx 49,500 per year. can I get a loan?
(leah, prospect - 09 October, 2006)

You would be required to pay out the Part 9 Agreement requirements before the loan could be settled.
(09 October, 2006)

Greetings, we would likt to purchase an investment property on the Central Coast NSW,around the 250k mark.We have just sold our house but didn't make a lot out of the sale after commissions,legals ,etc.We will be renting for at least a year.Is it possible to get a 106% loan to buy the property?We are on a good income total 96k/year.
(Kevin Robertson, Gosford, Australia - 09 October, 2006)

We have a couple of lenders that may be able to assist you depending on the type of property and the postcode it is located in.
(09 October, 2006)

hello i hope you are well my question is i am 29yr old single mother with four children i have good credit history and a credit card of only $500 no debts and $7000 savings not working at the present and was wondering if i would need part time or full time work to be accepted for a 95% home loan i would rather be home for my children as much as i can be than to use day care but as of march next year i can buy the government home that i live in also how long will i need to have been back in the work force for thankyou
(karen, ballarat, australia - 09 October, 2006)

To obtain a 95% loan you would have a better chance with perm. part-time or full-time employment having been in the same job for 3months.
(09 October, 2006)

I have been in Australia for 2 months on a 457 Temporary Residents Visa with my wife and daughter. My salary is substantial and my wife will start working next month. We have zero deposit but do not mind high repayments for the first two years while we raise additional money from the sale of shares. Are there any lenders who will give us a 100% mortgage?
(Nick, Perth, Australia - 16 October, 2006)

Currently we have been unable to find any lender that will provide 100% finance for Temporary Resident Visa holders. The maximum so far has been 80% where both applicants are Non-Residents.
(16 October, 2006)

Hello,
My partner and I are desperately wanting to purchase our first home together. Our situation is he has 14 thousand dollar default against his name, it was paid within about a month of being listed. This came due to separation from his marriage and the credit card being in his name only, hard times etc. GE were great a gave us a personal loan to get this paid despite it being on his credit rating. We have been making all repayments on time. We have also been paying a car loan for nearly two years without missing a payment. We both work fulltime in secure jobs with a combined income of about 80k. Our loan repayments at the moment together come to $840 a month (we are paying a high interest). We haven't got a dposit for a homeloan. We are looking for any advice on how we can purchase a home the brickwall we have seem to hit is with my partners credit rating. I also have a couple of utility defaults up as paid combined at around $1200. We would like to get the interest dropped for our already combined loans. And so desperately wanting to purchase a home together. My partner has already had the first home buyers grant so we don't qualify for that. We know we can afford to buy we just need to find a lender that is willing to help us. Thankyou
Kind Regards
Jenny
(Jenny, Frankston, Australia - 16 October, 2006)

100%-106% loans do require a clear credit history so you would find it extremely difficut at this point to obtain a home loan with no deposit. Since your repayments have been timely with GE have you tried approaching them to negotiate a lower rate?
(16 October, 2006)

I am separated but living in a property that i had decided to buy with my ex husband this year, my payout went into the loan and the loan total was 290,000 minus my 86,000 then my exhusband had a percentage of the loan to repay and I had my percentage now I think perfortnight the repayments on this loan in $680 on only centrelink payments totalling 679 a fortnight plus 552 a fortnight on maintenance would I be able to take over this loan if it was transferred into my name. I am not working at the moment due to having 3 very small children who need me and I am with them most weekdays & nights and half of a sat..Now my name isnt on the title but I know if we did this we save on stamp duty as well..
(Kerrie Hutcheon, victoria, australia - 16 October, 2006)

Given your current situation you would find it extremely difficult to qualify for the loan amount required to take over the property. Possibly once the loan has been lowered to about $110,000 you would be in a better position.
(16 October, 2006)

Hello, What a wonderful service you provide.
Our situation is this. My husband has a bad credit report due to missing a car loan repayment back in 2002. On his credit file in has been recorded as a clearout becasue he moved addresses at the time and forgot to let the creditor know. He paid of the entire loan in 2002, but the credit report states it takes 7 years for this to be removed. I have a clear credit report. My husband earns $100,000 gross per year and has been in his job for 3 years and I earn $46,000 per year and have been in my job for 3 months. We have saved $50,000 and would like to buy our first home in June next year. We are looking at houses around $380K. What are our chances of getting a home loan and who would give us such a loan with this clearout on my husbands file.
Is there anyway we can change the clearout to only be recorded for 5 years rather than 7? Thanks for providing this service.
Kate
(Kate, Brunswick, Australia - 16 October, 2006)

You should still be able to apply for a loan. The limits on the loan would depend on the amount of the default listed on the credit file.
(16 October, 2006)

my husband and I had landed ourselves in some serious debt. However we are now in a part nine and in just over 12 months have been paying RDA creditfiz aprrox $16000 to pay off our debts. We were told some lenders will give us the assistance to buy our first house, however we only have the first home owners grant as our deposit. Is there anyone out there than can help us. We have been advised by our financial consultant through RDA that since we have good professions permanent employment and on good money we have been given the OK to borrow, but who out there is available if anyone?
(Sandra, wadeye, australia - 18 October, 2006)

Sorry we don't know of any lender that will lend 100% for a Home Purchase given you are currently under a Part 9 Agreement
(18 October, 2006)

i am a single mother that works casual/fulltime. i also recieve family assistance from centrelink. i am wanting to get a loan for a new car which is $15 000. i am going to sell my current car or trade it in. i will only get $3000-$5000 tho.
the only problem is i am under a part nine agreement. i have been told that i can still get a car/house loan! can anyone help.
kind regards
(jennifer, casino, australia - 18 October, 2006)

Try Dream Loans - they specialise in bad credit car loans.
http://www.dreamloans.com.au/bad-credit-car-loans.html
(18 October, 2006)

HI,
I am a single mum of two kids under three. I am not currently working and only receive centrelink benefits as an income. I am however currently involved in full time study. I have a large number of debts totalling around 3000 and a pretty bad credit rating from my younger days. I am desperate for a personal loan and am not sure who to turn to as my past credit always presents a problem. I would like to either consolidate all debts or just obtain a personal loan of around 7-10000 dollars, but i would be happy for any amount at this stage. My current income amount is approx. $1150 a fortnight. Is there anyone who would give me a chance and help me?
Thankyou
(Sinead, Campbelltown, Australia - 18 October, 2006)

Best to try Bad Credit Personal Loans - http://www.badcreditcardscentral.com/bad-credit-personal-loans.html
(18 October, 2006)

Hi

Both my partner and I have previously had defaults but all have been cleared up early in the year. He is on good money $70k + and I'm a stay at home mum. We are renting at the moment looking to buy next year as we have a guarantor with a home. Earlier we applied for a car loan through a broker and with great determination he found us a lender for $30k. We have now decided against this. We own a car outright, have a small savings and we would like a credit card. Do you think we have a chance and if so who do you think we should approach?
(Jo, WA - 30 October, 2006)

Generally it would be difficult but we shall send your details to a branch and they will contact you.
(30 October, 2006)

Hello. I live in Perth, W.A and my fiance and I bboth are looking to get a loan for $10,000 to help pay for our wedding and get household furnishings like frigde, draws, dryer etc.
My partner has bad credit and works casual full time earning $600 week after tax and I have started a cake business and earning roughly $600 week and $108 fortnightly from centrelink also with bad credit history.
We have my partners grandad who will go garantour for a personal loan but are having troubles finding someone who will except a garantour. Do you know of anyone who will help. Thanks so kindly, kelly
(kelly dodson, success, australia - 30 October, 2006)

Sorry bad credit personal loans seem to be very difficult. However try Australian Debt Reduction. http://www.australian-debt-reduction.com.au/limited/b-credit.asp
(30 October, 2006)

Hi, i am a single mother on centrelink benifits of $1350p/f. I have a clearout listed on credit file of $1200 about 5yrs ago. All my belongings are in nt in storage which is $52p/w. Would any bank or company give me a loan of $5000 to pay out default and get my belongings brought to qld? Thanks Regards Kelli
(Kelli, Brisbane, Australia - 30 October, 2006)

Sorry don't know of anyone but try Australian Debt Reduction - http://www.australian-debt-reduction.com.au/limited/b-credit.asp
(30 October, 2006)

In 2001 - 2002 I was in a bad relationship and at the time had 5 credit cards and 2 personal loans under my name to support my ex. Mid 2002, there was a month where I could not meet my minimum repayments, and found on the internet a company advertising that they could consolidate my debts. The guy suggested that I enter into a Part 9 Debt Agreement but did not inform me that it would affect my credit rating! I have been saving pretty hard since and should have the debt cleared in Feb 07 (should be Sept 09). The issue is now my current boyfriend and I really want to buy our first home together sometime mid 2007 and I was wondering if I would be able to even get a home loan and how much of a deposit we should be aiming for? My boyfriend and I earned a combined income of $90,000.00 and he has a clean credit rating. I have no default listings on my credit rating - just that i have entered into a Part 9 Debt Agreement (which i worst, I suppose). Any advice would be much appreciated! Thank you
(Thao, Cabramatta, Australia - 30 October, 2006)

Depending on the strength of the application you would probably be looking at an 80% lend based on the purchase price. You would need to cover the 20% deposit and the costs associated with the purchase. Also most likely a condition of settlement would be that the Part 9 was paid in full.
(30 October, 2006)

Hi, My husband and I would like to purchase 5 acres of land at Coominya, QLD. The cost is $100 000. My husband earns $1000 pw after tax, and I am not working but receive family payment for our 4 children of 800 pf. We have just deposited $7000 into our savings account, but as a lump sum, not savings. My husband has one phone default of $456, paid approx 2 years ago. I have 2 store defaults ($1599 and $677) and one ph account default of $342.. all paid 3.5 years ago. We have no other degaults, judgements etc. Is there a chance we can get a loan to purchase the land?
(Sharon, Mount Crosby, Australia - 30 October, 2006)

Yes you should be able to purchase the land. However you may be limited to 90% of the value of the purchase.
(30 October, 2006)

I am a discharged bankrupt,I have no debts,I have 4 children.I work full time and earn approx $78,000 P/A.My wife works 8 hours per week and obtains Centrelink payments.($600 PFN)
I have my discharged bankruptcy & 2 paid defaults on my file.
1 is a paid Telstra Bill of $300,I did not know that I owed until I received my credit file about 4 months ago.The other is a paid default of $1,100,which was a loan through Q-Loans for only $300 but I stuffed up the 4 repayments & it cost me a hell of alot in the end.
I would like to purchase a car for around $30,000 secured by the car.
After I have paid this for 6 to 12
months would it be possible to then obtain a credit card aswell.
I can comfortably afford to pay the loan back at up to $400.00 PFN.I pay all my bills fortnightly so they are always paid on time.
How would I go with the above?
Stuffing up my credit file 4 years ago has really hurt.
Thanks for any info.
Brett
(Brett, Sydney, Australia - 30 October, 2006)

Try Aussie Car Loans - http://www.aussiecarloans.com.au/2ndchance.html
(30 October, 2006)

hi i was wondering my husband has 4 unpaid defaults on his credit file adding up to around $1700 we didnt know until afew days ago when we got a copy of our credit files and also i have paid defaults on mine which were paid in 2003 at present we have no loans at all and we only pay $954 in rent per/mth. husband earns $800 - $950 per week after tax and i get $1176 per f/night from c/link as we have 4 kids we are wanting to start a freash and get both our credit files looking better again and we would like to borrow around $25000 to go on a overseas trip and to be able to be given the opportunity to do this and show the banks or finance people that we can pay it off as now we are debt free but we have been rejected quite a bit lately and feel like we are never going to be able to get finance again we would like to buy our own home with in 2 years we have just sold ours and have nothing left from it so we need to start all over again can you give us a name or names of someone that would help us with finance also husband has been with company for 3years and 6 mths
(geanith, melbourne, australia - 16 November, 2006)

Sorry bad credit personal loans seem to be very difficult. However try Australian Debt Reduction. http://www.australian-debt-reduction.com.au/limited/b-credit.asp
(16 November, 2006)

I am a single mum of 1, looking to buy a home. I currently earn 40k per year and have a pln of 35k, payments being approx 800 pmth. My mother is happy to put up her home as equity, house is valued at 250k and owes 150k. I have a good credit rating. Would i be able to get a loan and how much do you think I could lend. Thank you for your time.
(Tamara Grey, Cairns, Australia - 16 November, 2006)

Given your current income & the personal loan with no credit cards the outside maximum you could borrow would be approximately $100,000.
(16 November, 2006)

hi im a 3 yr discharged bankrupt now and unfortunatley i am on the DSP pension is there anybody out there that will give me a break and give me a personal loan
(Ron, Quairading, western Australia - 16 November, 2006)

Sorry bad credit personal loans seem to be very difficult. However try Australian Debt Reduction. http://www.australian-debt-reduction.com.au/limited/b-credit.asp
(16 November, 2006)

do you no of any lenders that would help me consolidate my loans owing around 16,000. have a clear credit file only problem is i received centrelink payments only of 1200 afortnight.
It would reduce my payents and make it easier for me. thank you
(glenda, bacchus marsh, australia - 16 November, 2006)

Sorry bad credit personal loans seem to be very difficult. However try Australian Debt Reduction. http://www.australian-debt-reduction.com.au/limited/b-credit.asp
(16 November, 2006)

hi, my partner and i have unpaid defaults totalling around $5000 we need to find somone who will help us consolidate our debt including the 5 grand as if this does not we're just going to get further snowed under. we have two children under 3 and we're really starting to struggle. any help would be much appreciated. even if we just got the money to pay our defaults then we could get a loan ourselves.
(bec, katherine, aus - 16 November, 2006)

Sorry bad credit personal loans seem to be very difficult. However try Australian Debt Reduction. http://www.australian-debt-reduction.com.au/limited/b-credit.asp
(16 November, 2006)

i am a single mother of 4 children and am in some serious debt. i have 3 credit cards which im having no trouble paying but the interest rate is stoppin me from getting anywhere with them.Id like to consolidate the debts into one low interest rate so that i can then save to try and buy a home. Im on centrelink payments of $1600 per fortnight and my rent is $100 a week. Ive tried to get a loan but ive had no luck its a total of $15000 and ive never missed a payment which is more than is required per month
and i have no problems with my credit rating and a car valued at $6000 can you help me get this problem solved??
(leanne, reservoir, australia - 23 November, 2006)

Try my-loans.com.au. They may be able to consolidate your personal debt.
(23 November, 2006)

I have recently moved town and have been working full-time as an apprentice boilermaker earning approx $600/week net. My girlfriend has been working for 1 month permanent part-time earning $300/week net whilst studying full time at University.

We wish to consolidate our debt which includes: a personal loan for $15,000, and a credit card for $7,200.

In January 2005 I was defaulted, the default was paid in full in October 2005.

Is there any chance that we will be able to consolidate these debts??
(Mick - 23 November, 2006)

Try my-loans.com.au. They may be able to consolidate your personal debt.
(23 November, 2006)

Hi I was wondering if know where i can get finacial help for lapband surgery. This is my last option or I will not be there to see my two girls grow up. Unfortunatley I am a single mum of two. I credit rating is down the tubes. Thanks
(BETH, mckail, Australia - 23 November, 2006)

Sorry I am unable to provide a solution for you
(23 November, 2006)

My husband wishes to transfer our home into my name only. Currently we are tenants in common,50/50 split.The home is worth around 350K, loan balance 220K. What costs are involved? Do we have to pay 100% of stamp duty again? Thank you for your advice.
(Robyn, Canberra, Australia - 04 December, 2006)

Generally a transfer between a married couple will avoid stamp duty. See ACT Revenue website: http://www.revenue.act.gov.au/circD12.html. However there will be costs associated with the transfer and of course changing the loan. To double check you can view the Loan variations can vary between $300-$600 depending on the lender.
(04 December, 2006)

hi, i am after help to get a homeloan. this is the first homeloan i would have and am wanting to loan 160 k for the home and add 20 k for the personal loan i currently have (secured car loan). the property i want to buy is valued at 185 k on the rates notice and 240 k by agents quotes ( i would be buying off a family friend thats why im getting it cheaper). i have been at my job for 10 months and earn between 500 per week to 680 per week depending on overtime. i was disharged from bankruptsy 13 years ago also. can you help me? cheers.
(MARK, golden square, australia - 04 December, 2006)

We my be able to help you out if you are able to give us some more details.
(04 December, 2006)

Hi, my husband and I are discharged bankrupts, him 3+ years and me nearly one year discharged. We are wanting to purchase a home, but do not have a large deposit. We are able to comfortably pay around $2000 per month, and have both obtained car loans recently, which total around $650 per month. We are trying to "fix" our credit rating! Can you point us in the right direction in regards to a lender? Cheers, Mel.
(Mel, Ringwood, Australia - 04 December, 2006)

If you are both wanting to apply on the loan you would each need to be 2 years discharge bankrupt to apply for as much as you need.
(04 December, 2006)

I curently have a part IX agreement which i am 18 months into paying off 200 p/f. This started off as $15000. I had a car loan with esanda during this time and have finished paying this off early (6 months early). I was hoping to get another car loan but esanda will not touch me with the part Ix. Any suggestions as to where i could possibly get this loan? And do i need a drivers licence to get it? All the defaults on my credit file are being taken care of with the part IX. I earn approx 45000 p/y. Thanks for all your help!
(Wayne, Townsville, Australia - 18 December, 2006)

We suggest you contact your local GE Money office for advise
(18 December, 2006)

I have an income of $63000. I am wanting to buy a unit in brisbane which I plan to rent out for a few years, eventually moving north and living in it. Cost of unit is $200,000 and I have saved $10,000 as a deposit. My credit rating was a mess - i had several defaults but they are all paid up now and I am wondering if it would be difficult for me to get finance.
(David M, parramatta, australia - 18 December, 2006)

Hi David,
With clean credit it is possible to get a loan to support your purchase. We would need to see you credit history to better advise. If you wish us to assist further please send a copy of your credit file via email or fax to 1300 30 99 78
(Answered by: Cheers Dave 18 December, 2006)

I'm a mother of 3, currently 2 as in custody process for youngest child and was denied legal-aid because there has already been a final hearing for this case but my ex started it all over again .I do not work and need to get a personal loan to cover lawyers costs & help set up home, i need to pay course fees as i wish to get a degree and be able to work, i receive sole parenting pension but as i do not work where would it be possible for me to get a loan?
(Georgia, Launcestone, Australia - 08 January, 2007)

It would be best to try your local bank branches in order to obtain a study or personal loan
(08 January, 2007)

Hi, I currently have 24,000 in credit card debts plus two unpaid defaults on my credit history from over 4 years ago. My husband wants to apply for a loan for a house. What are my options? Would it be better for me not to put my name on the loan application? Who can help me? I earn $3000 a month and can sacrifice up to $1500 for a loan in repayments. I dont want to keep paying off interest. Please help!
(Aimee, Sydney, Australia - 08 January, 2007)

It would depend on the type and size of the unpaid defaults but if you can it would be best to pay them off if you wish to purchase a home. If your husband can afford the loan just in his name it will make it easier for you.
(08 January, 2007)

Hello,i am a 21 year old,non-permanent austrailian resident that gets quite a bit of money from her parents annually,however,for personal reasons,i am looking for a flexible lender,that can lend me up to $500,000 AUD,can you please suggest one for me,and email me the details? Please,i'm sure there must be one out there!
(vanessa, Perth/Bentley WA, AUSTRAILIA - 08 January, 2007)

If your income can support the loan as a non-permanent resident you would be able to borrow funds for a purchase from most lenders up to about 80% of the value of the purchase.
(08 January, 2007)

Hi, our situation at this time is we have a mortgage of $144,000 the property is valued at $170,000. We have 3 credit cards totaling $12,250, we have no other loans. My husband is a subcontractor earning $1,500 gross a week and I receive approx $450.00 a fortnight Centrelinks payments for our 4 children. We want to sell our home in 12 months time and build a home at Wallaroo SA and need to borrow between $250,000-$300,000 but don't quite know how to acheive this so the question is who out there can guide as through this process?
(Kim - 08 January, 2007)

Based on the information provided you shouldn't have any problems applying for a construction loan for a fixed priced building contract. You can complete the purchase of the land before the building contract is complete if you need to as well.
(08 January, 2007)

I am currently a third year paramedic student recieving single parent pension (1 child). I also do casual work. My income ranges from around 1500p/ month to 2000p/month. I am sick of wasting $200 per week on rental and was wondering if there was any way to get a home loan. Upon finishing my bachellor I will enter paramedical field at around $48000 starting pay. I know it's a big ask and Im probably dreaming but thought Id try. Thankyou.
(Chelsea - 10 January, 2007)

If you have been working consistently in casual work for over a year with the same employer you can use that income to apply for a home loan. You would need a deposit and costs to complete the purchase. On the information given at this time you would not be able to borrow very much. However once you are full-time employed and have cpmpleted any probation periods you would be in a better position to borrow a greater amount.
(12 February, 2007)

my credit rating in australia has been damaged after paying all outstanding amount shall i be eligible to get PR or not if not what i must do
(sukhvinder singh, thanesar, india - 10 January, 2007)

To determine if you are eligible for PR status you would be best to contact the Australian Government. This website might help you:
http://www.immi.gov.au/living-in-australia/settle-in-australia/index.htm
(10 January, 2007)

Do you know of any way that parents can transfer the ownership of their home to their children without going through the full regular sales process?
(Jill, Fulham Gardens, Australia - 27 June, 2007)

You would be best to ask a conveyancer or solicitor for assistance.
(27 June, 2007)

Hi iam a discharged bankrupt for almost 2 years,i earn 85k a year full time employed,i have 2 children&my wife gets paid $211.00 a fortnight ,i am wanting to buy a house and was told that i would have to pay at least 10% of the amount i wish to borrow,could you please tell me if this is correct thankyou.
(Ross Newton, Armadale/Western aust, Australia - 27 June, 2007)

Yes you would find it difficult to source a lender that would require less then 10% deposit in you current situtation.
(27 June, 2007)

Hi,
I was wondering if you could answer a question I have about gettinng a Home loan.
I am currently on Sole Parent Pension after losing my job, due to an injury from a car accident. I have just retrained as Teacher Aide to try and keep a job that suits my injury. I am working a few hours a week in this role. My income is about $850 a fortnight including parenting payment.
I am paying off a car loan and two other loans being in all, a total of around $16,000. ( $240 a week ) I will soon receive a payout for my injury.
Am I able to get a loan to buy a house if I only work casually and have only been in the job for around two months with my hours to increase soon.
My deposit for the home loan
(not including first home buyers grant) would be around $190,000.( some of payout) Would want to borrow about $150,000. Is it possible and Should I see a Broker.
Thanks for any help regarding this.
Regards
(Eyan, Brisbane, Australia - 27 June, 2007)

There would definitely be a few options for you and you should see a broker. I would suggest it would be best to pay out your personal loans first though.
(27 June, 2007)

Hi, I am moving to Sydney soon on a 457 visa. My income is over 180,000 / year. Take home pay around 2500 per week. I have no debts and have about AUD 120,000 in cash. Will I be able to get a home loan/car loan?

Regards
(Sanjay - 27 June, 2007)

As long as you are not in a probation period you can apply for a home loan. Some restrictions may apply including Foreign Investment Review Board approval (www.firb.gov.au) and maximum borrowings but that would depend on your situtation.
(27 June, 2007)

Hi i am a single parent of a 2yo, im studing at TAfE full time and would like to know if there is any one out there that would helpme out. i have a personal loan and a few other bills that i am paying off. i dont have that bad of a credit rating but something in my credit rating is holding me back. i need $5000 to move out of my mothers place as there is no room and i dont have anything to move out with not even a bed. Can you suggest anything?
(Chantelle, Gosford, NSW - 27 June, 2007)

Firstly you would be best to find out what the problem is with your Credit Report. Visit :http://www.mycreditfile.com.au/home/home_default.aspx.
Once you have this sorted out you may find it easier to apply for a personal loan.
(27 June, 2007)

Im 22yrs old with 13month old daughter on centrelink benifits and wanting to get small loan.Im finding it hard to get one.help!
(Tracy, Tuggerah, Australia - 28 June, 2007)

It is always best to discuss small personal loans with your local bank branch.
(28 June, 2007)

I am first year apprentice earning approx $280 take home. Since starting work 3 months ago I am saving $180 per week. I am living at home with my parents so I have no expenses at all. I own a vehicle valued at approx $4000, a boat and motor valued at $6000 and some cattle valued at $10000. I want to purchase a hobby block with a three bedroom home on it for $150000. I intend to rent it out for $200 per week and still live at home. Can I apply for the first home owners grant and get a home loan. Please let me know asap.
(bradley darcy, warren, Australia - 28 June, 2007)

You are unable to apply for the FHOG as you are not going to be living in the property. You may be able to borrow up to $125,000 based in the information you have supplied so you would need to cover the deposit and costs of the purchase.
(28 June, 2007)

do you give car loans to 457 visa holders
(Jandre Flynn - 28 June, 2007)

Sorry we are unable to assist you.
(28 June, 2007)

My husband has recently initiated bankruptcy due to unpaid debt from a client. He has and does not plan to enter into any agreement to repay any debt, and his income will now be $50,000. With this on his credit reference my question is; are we able to get a mortgage to have our own home and start again? I do not work I am a stay at home mum with two young children.
(Amanda, Sydney, Australia - 28 June, 2007)

You will not be able to apply for a home loan until your husband has been discharged bankrupt if he is going to be on the loan.
(28 June, 2007)

i seem to have some bad credit with baycorp or veda.if i pay off these debts will i be able to apply for credit or will the defaults work against me?
(jasmine wylder, hobart, australia - 28 June, 2007)

It will depend on the type of defaults and how much they are for. For example, generally small Telco defaults are now ignored.
(28 June, 2007)

I'm 21yo tertiary student and also a citizen of Australia. I've been working with the same employer for over 6months but under casual employment. 18K yearly or roughly 700 fortnightly. Where can I get a personal loan for 4kAUD? I need it to assist me in purchasing a used car and for maintainence over a 2 year period. It's hard as I've been rejected
(Kenneth, Sydney, Australia - 28 June, 2007)

Have you tried GE Money Personal Loans?
http://www.gemoney.com.au
(28 June, 2007)

I will be discharged from bankruptcy in April 2008. Will anyone lend me money now to purchase a car or even when I am discharged? I work and along with centrelink money bring home about $1450 a fortnight. Is there any hope in the future of getting my credit repaired and where do I start? Will anyone give me a credit card again?
(Jo, Flinders View, Australia - 28 June, 2007)

Yes you will be able to obtain credit again. Try GE Money Personal loans once you have been discharged.
(28 June, 2007)

I owe $90k on a 400K home if I rent it out for $380 weekly, how much can I borrow - I currently earn $40k yearly. I want to buy, renovate and sell. Do I continue working or can I renovate myself
(Gail, Coffs Harbour, Aust - 28 June, 2007)

Based on the information provided I am assuming you are single with no dependents and no credit cards or personal loans. A rough estimate would be in the between $225,000 and $335,000 depending on the lender. This based on you continuing to work.
(28 June, 2007)

Hi, I am a single mum with the one dependant. I mortgaged a house a year ago, which is currently being rented out, completely covering repayments council rates etc. I earn approx 45grand a year as a contractor with the government. I want to know more about the tax benefits of renting as well as the possibility of purchasing another property.

Current property is worth approx 125000, with outstanding debt of 84000.

Please help!

Leticia.
(Leticia, Adelaide, Australia - 28 June, 2007)

Best to always discuss the tax benefits with your Accountant. As for purchasing another property, based on the information provided you would qualify to purchase a similar property.
(28 June, 2007)

I am a mother of 2, I have lousy credit and can't find anyone to give me a loan. I need about $5000.00 to get back on my feet and get rid of some debt and be able to provide my children with what they need. I am employed but just don't make enough money. Can you please help?
Rita
(Rita, Winnemucca, USA - 28 June, 2007)

We unable to assist Non-Australian residents at this point in time sorry.
(28 June, 2007)

Hi there,
I am a Australian citizen born here and my partner is from the Czech repbilic together we have obtain a spouse visa which means another year and a half till she obtains PR. If we obtain a homeloan will the lenders include her income in the criteria, we both are full time professionals.
(daniel, glenhuntly, australia - 28 June, 2007)

You may find it a little difficult but there are lenders that do this type of loan. However you may have to contribute up to a 20%-30% deposit.
(28 June, 2007)

Hi, my husband and I are wanting to buy our first home. We have a $22000 personal loan which we pay on time everytime (payroll deduction). He has 2 small defaults (paid) on his credit history (totalling $1300), my credit history is clear. He earns $75000 plus penalties (he is a shift worker) and I am a stay at home mum. We were wondering what our chances of getting a 100% home loan for constructing a new house would be.
(Melissa, Rowville, Australia - 28 June, 2007)

You would find it very difficult to obtain a 100% construction loan with the 2 defaults. You would be best to save a 10% deposit.
(28 June, 2007)

hi im 26 i have an unpaid default of $4000 from mobile bill from 2002 wich i only found out 1 month ago as i was going for a car loan is there someone wich will still give me a car loan or a personal loan for the amount of default and car loan my income is $5000 p/m thank you
(Robert, brisbane, Australia - 28 June, 2007)

I would suggest trying GE Money Personal Loans. Also Credit Repair Australia may be a able to offer assistance. http://www.creditrepairaustralia.com/index.html
(28 June, 2007)

We have bought our first home and of course we love the fact we have a mortgage. We want to know after a year of living in our home, can we get another mortgage for another property away from the area we are in or would it be easier to sell the house we are in now. We are in an area where there is no rentals available, do we rent it out or sell it?
Any advice would be greatly appreciated
(Michelle, Ravenshoe, Australia - 28 June, 2007)

Lots of factors to think about. Are you able to rent out your property and cover the costs of loan repayments and maintenance costs? Do you have a deposit for another home? Are you able to cover the costs of the purchase of another home?
(28 June, 2007)

Hi I was wondering if working part time 60hours per fortnight affect the amount of money we can borrow for a mortage. My Parnter earns $60 000 and i earn $50 000. thanks
(Justine, perth, australia - 28 June, 2007)

Perm. part time work is acceptable income. If you are casually employed most lenders will ask that you have been in the same job for at least 12 months.
(28 June, 2007)

I have a morgage but because i will be travelling out of the country for a good Number of years can I transfer all my ownership to my partner(every thing to read my partner)
(maria lopez, tilbury, essex - 28 June, 2007)

You are able to transfer the property but your partner would also have to be able to take over the loan as well.
(28 June, 2007)

Hello. Mt Father is going to transfer one of his house and land into my name. I am 23 years old and have never owned a home before. I am windering what legal costs are involved in this of transaction and what the process of transfer of the title deeds involved. Thankyou very much.
(David, Sydney, Australia - 28 June, 2007)

It would be best to speak with a solicitor or conveyancer but you may find that you are liable for the stamp duties payable in your state.
(28 June, 2007)

i have just received my credit report and have 10 consumer credit applications and 3 overdue accounts. 2 under $500 and one for $1600 is it just my my overdue accounts that is stopping me from getting credit or the applications as well. when the overdue accounts are cleared will i be able to get credit again
(Cindy, sydney, Australia - 28 June, 2007)

Depending on the type of credit you are applying for the overdue accounts and enquiries may be causing you problems. Lenders generally don't like to to see a lot of credit applications in a short period of time and unpaid defaults are unacceptable to main stream lenders.
(28 June, 2007)

I earn around 100k per year and would like to know if & how much i would be able to salary sacrifice on my home loan of $230k
(David, Woolgoolga, Australia - 28 June, 2007)

I haven't heard of salary sacrificing for a home, like you can a car. It would be best to discuss this with your Accountant or check with a company that handles salary packaging.
(28 June, 2007)

Hi, I currently going through a seperation from my De-Facto of 26 years.I am going to refinance and buy her out.The home is in both names and I was wondering if i have to pay stamp duty on the house again as I dont think married couples need to do this when one person is remove from the title.We owed $220k and i need to borrow $100k to settle with her.
Thanks in advance for your time.
Michael
(MICHAEL, sydney/marayong, australia - 28 June, 2007)

You may find you are able to complete a transfer in terms of "love and affection" to avoid the stamp duty costs. You would be bes to discuss this with a solicitor or conveyancer in your state.
(28 June, 2007)

Hi,
My wife and I are wishing to obtain a home loan, issue is I am an Australian citizen born here and my wife is here on a temporary spouse visa, my wife would like to go on the housing loan, however two lenders have told us that she can not go on the loan as she is not a permanent resident, is this true or not?
(Scott, Carseldine, Austra;ia - 28 June, 2007)

Generally speaking most lenders won't allow a non-permanent resident to be a borrower. There are one or two lenders that would consider her however you may find that you would need to have a greater deposit.
(28 June, 2007)

hi there!

I am a single mum(separated)and receive a parenting payment from centrelink. My mum, who lives in QLD is not well and i would like to move back to be close to her. I have calculated that I would need at least $5000 to do so. Do you know of any lender who would help me? I own my own car and possessions, and rent.
Thank you.
(christina nixon, frankston, australia - 28 June, 2007)

Best to discuss a small personal loan with your local Bank Branch. I would suggest ANZ or Westpac.
(28 June, 2007)

hi im a single mum i reseve centerlinc payments single perenting pension of about 1140 a fortnght + 90 a week matnice i really am in need of 7000
i have bad credit ratings from unpaid bills which still are unpaid of about 2000 (i need the loan to pay off these) i live with my mum so i dont pay rent or bills and over the past week have applied for heaps of loans and credit cards over the internet even tried my bank with no luck any suggestions sorry about the spelling
(shannon, creswick, aus - 31 July, 2007)

Hi Shannon,
Have you tried www.gemoney.com.au or http://www.australian-debt-reduction.com.au/limited/b-credit-loan.asp
(31 July, 2007)

I am from NZ and mu husband is from Spain on a visa that is renewable every 5 yrs. Together we earn around $65'000 before tax.If we have a deposit of around $10'000 can we get a home loan? Virgin money said (over the phone) it wouldn't be a problem but on this website I see other similar cases where it has been difficult.
(Kate Bruce - 31 July, 2007)

Where both applicants are non-residents you are generally able to only obtain a loan between 70%-80% of the value of the property. If one of you is a resident you are able to obtain up to 95% as long as the resident is working as well. You may also find you need to obtain government approval for the purchase - http://www.firb.gov.au/content/default.asp
(31 July, 2007)

I am a discharged bankrupt of 7 months.
I have a paid default for Telstra $300 & a paid default for $1,100 to Q-Loans.(both from 2004)The Q-loan was originally $300.
I need a personal loan for $10,000 to pay a high interest debt of $3,000 & the rest to buy a car.
Is there a company or a bank that would do this for me.
I earn $75,000 P/A I only have the $3,000 debt but I can't get a loan.I can comfortably afford to pay it back & could use a gaurantour if necessary.
Can anybody help?
Thanks
Regards
Michael
(Michael, Sydney - 31 July, 2007)

Hi Michael,
I would try www.gemoney.com.au to see if they can assist you.
(31 July, 2007)

Hi There,
I have reently tried to obtain a personal loan for a car but to no avail.
I have been discharged from bankruptcy only since Oct 07 but I have 2 paid defaults on my file that were put on not long after I had filed for Bankruptcy.
I am after a loan for either $10,000 or $20,000 to either buy 1 car or 2 cars.
The companys that have looked at my file have declined me because of the defaults.
I earn $75,000 per annum & can comfortably afford to repay either loan.
Is there anyone that you would know that could help me out?
Any information is appreciated.
Regards
Brett
(chiso1971@hotmail.com, Campbelltown, Australia - 31 July, 2007)

Hi Brett,
I would try www.gemoney.com.au to see if they can assist you.
(31 July, 2007)

TRYING TO FIND LENDER TO ON LOW DOC BASIS ASSIST WITH COMMERCIAL PROPERTY PURCHASE, I AM LOOKING TO BORROW 100%
(GREG TRUSCOTT, GOSNELLS, AUSTRALIA - 31 July, 2007)

Sorry we do not know of anyone that can do a 100% Lo Doc Commercial Purchase.
(31 July, 2007)

Hi, I was wondering if you can help me. I am interested in starting my own buisness (that im sure could really take off), and was wondering if a person on a 457 visa(which runs out in 2009, but we looking at perm res) can firstly start a buisness and secondly get a buisness loan or credit card in order to get started. I work pt as a nightfill assist and my partner works ft as a civil engineer, between us we earn around $100,000. We dont own a house but we do own our car which is worth around $24,000.
(Lynnette Phillips, melbourne, australia - 31 July, 2007)

www.gemoney.com.au may be able to assist you with the credit cards. The Business Finance may be a little more difficult. You would require an extremely strong business plan.
(31 July, 2007)

My Husband and i are on centerlink payments we have 2 children and pay $280 per fortnight in rent witch we think s dead money i currnetley have one personal car loan $280 per fortnight and together we get $1230 per fortnight we are not bankrupt we have some debts all we ask for is a home loan of 100000 to buy a house we have found we dont have a deposit or any savings but the money we use to pay our rent could go on the home loan repayments my question is ,is there any one out there at all that can help me get in to a house that my husband and children and my self can call our own.
(tanya, willowbank, AUSTRALIA - 31 July, 2007)

Sorry we don't of anyone that would be able to provide a 100% loan without one applicant being in full-time employment.
(31 July, 2007)

Im currently in Australia on a 457 visa and was wondering what financial institution (if any) would be able to provide personal loans & credit cards to non-permanent resident.
(Phil, Bondi, Australia - 31 July, 2007)

Try www.gemoney.com.au
(31 July, 2007)

hi we have a home loan with comm bank with total including credit card debt of 87000 do you know of anyone who would refinance us with enough left over to get a car ......... we only live on centrelink invalid pension and we live in a small town where the property is not worth much
(alan c pownall, benambra, australia - 31 July, 2007)

Hi Alan,
It would be possible as long the value of your property was enough to carry the debt and the lender was happy that you could support that level of debt.
(31 July, 2007)

Hi there, I finished paying off my part nine agreement 16 months ago after 3 years of $80 p/wk and never missed a payment, Obviously I am trying to build a credit history and need $15k for a new bike to get to work and help my ex-wife set up a home for her and our 5 yr old son. I have been at the same job for 11 years and no debt or rent to pay only $60 p/wk child maintenance. Do you know anyone who can help me?? Will banks touch me?? I have not tried as I don't want to many applications on my credit file. Thanks for your help. Ken
(Ken, Brisbane, Australia - 31 July, 2007)

Hi Ken,
I would try www.gemoney.com.au to see if they can assist you.
(31 July, 2007)

My Partner and i are renting at the moment and have been for many years due to many factors, we are now in a financial position to buy our own property, ie we are both in full time employent. We g=have found a house and want to make an offer but we both have a bad credit history from our days at university and cannot not get a good rate. My farther has offerd to stand as a Garantor, how does this work and what is the next step?
(Justine Kelly, Bury, Lancs, England - 31 July, 2007)

Sorry we are unable to do loans in England
(31 July, 2007)

Dear Sirs,
I am a discharged bankrupt of 3 years. If if go into a defacto relationship does this affect the borrowing capabalities of my partner as i am well aware that icannot personally borrow at the moment.
(John - 05 October, 2007)

If you both plan to be borrowers on an application this will affect the application. If your partner is the only applicant then it won't be a problem.
(05 October, 2007)

i support 4 young kids and on a canterlink payment can i apply for a personal loan
(sharmaine, wollongong, australia - 05 October, 2007)

Your best bet would be to visit a Credit Union Branch to see if they can assist you
(05 October, 2007)

My husband and I wish to get a 100% home loan to purchase a property which we already have under contract. My husband is an Australian citizen, however I do not become a permanent resident for another 90 days. We need to include both our incomes in order to get the mortgage we need and we need to have the finance sorted out in 14 days. Will we be able to do this under the current situation.

Regards

Karen
(Karen, Bowen Hills, Australia - 05 October, 2007)

Karen,
We might be able to assist you. We would require more details though.

Send info to info@donationhomeloans.com.au or fax to 1300 30 99 78
(05 October, 2007)

im a single mum, ex-bankrupt,04 not working, rely only on pension payments, need a loan to pay defaults,bills, to start fresh an have nice x-mas, im 25, an have own car
(rebecca, waggawagga, australia - 05 October, 2007)

You will find it very difficult but you may have some luck at a Credit Union Branch
(05 October, 2007)

Myself and my husband emigrated here 10 years ago (permanent residents) we lost our house cars ect when our carpet business went under which has given us a poor credit rating. We have been renting for the past 4 years and pay $575 per week which restricts us with saving a deposit. We have tried to get credit but are always turned down so cannot see much hope in obtaining a mortgage. It is so frustrating as we have always been hard working. Can you help?
(cindy milton, carine perth, Australia - 15 October, 2007)

How much a Lender would allow you to borrow would depend on the nature of your history. It may be that they will only allow you to borrow up to 80% of the value of the property meaning you would need to put in 20% plus costs.
(15 October, 2007)

I'm holding a 457 Visa,temporary resident, working currently in one of the hospital in melbourne as a Nurse.Is there any lending company that I can obtain a personal loan ?
(Almer, Richmond, Victoria, Australia - 15 October, 2007)

So far we have been unable to find a lender that will do personal loans for Non-Residents.
(15 October, 2007)

I HAVE TO SHOW 5000.00 IN MY BANK ACCOUNT BY DECEMBER IN ORDER TO GET MY HOME THRU A 1ST TIME HOMEBUYER PROGRAM. ARE THERE ANY PROGRAMS THAT CAN HELP ME WITH OBTAINING THIS 5000.00 I NEED TO SHOW IN THE BANK?
(TERRELL, FT. LAUDERDALE/FL, US - 15 October, 2007)

Sorry we don't work in the US. Best of Luck!
(15 October, 2007)

My husband is presently on a Temporary Residency while we wait for the result of our application for a permanent spouse visa.
We are both working full time, earning a combined monthly wage of around 4000 per month. My credit history is SHOCKING, I mean I wouldnt lend money to me either. Defaults..etc etc. His credit rating is pristine..
Currently I have a GE money loan with a huge interest rate (still have 7K owing on it). What we would like to do is get a loan to repay my GE loan and buy a new car, but I am too scared to apply with him (even though I earn 2300+ per month) because i worry that my credit history will get him declined and start him on a poor credit history.
Are there loans out there for us?
(Amanda, St Kilda, Australia - 15 October, 2007)

As a temporary resident your husband will find it very difficult to obtain a personal loan. He will need to wait until he has Residency.
(15 October, 2007)

IF im in a part nine debt agreement that ive been paying now for 1yr 6mths can i still borrow from any lenders?
(darron, parkhurst, australia - 21 October, 2007)

Lenders will ask that that Part 9 is repaid before a home loan will be considered.
(21 October, 2007)

i am looking for a home loan but i have a bad rateing and only get centrelink payments but at the moment i am paying $210 p/w in goverment housing
(chrystal, lithgow - 21 October, 2007)

You may be able to borrow just on your centrelinks payments but generally they are not enough for a home loan. You would need a deposit and funds for the costs involved in the purchase. Also it would depend on how impaired your credit rating is. If you would like more information please email info@donatiohomeloans.com.au
(21 October, 2007)

I am a single mum of 3 (9,4,1)I am currantly bankrupt. I received an inheritance from my grandmother and am paying out my bankruptcy in full as we speak.I will have money left over that Id like to buy a property around Wingham or even Gloucester. Can I buy what i dream of owning or will I have to settle for a house at first? Thankyou Anne.
(anne moss, bulahdelah,NSW, australia - 21 October, 2007)

Sorry but once you have been discharged from your bankruptcy for at least 12months you will have the ability to borrow for a home loan.
(21 October, 2007)

I am a australian citizen my husband is uk cit, and on the 309visa and we want to get a house with less than 20% deposit,I know we do not need fibr approval,but is it a law you need 20%?
(lorri, brisbane, australia - 08 November, 2007)

A lot of lenders will require you to have a 20% deposit. However if you are both working there are lenders that will require less since one of you is an Australian citizen. If you would like more information please feel free to email info@donationhomeloans.com.au
(08 November, 2007)

I have perm res status in Australia and my husband has a temp spouse visa. We have left Australia temporarily to return next year. I was wondering whether the fact that my husband is a discharged bankrupt in the UK would prevent us from getting a joint mortgage in the future in Australia? We can both earn $80 - 90K each and want to settle in Australia.
(Sarah, UK - 08 November, 2007)

Bankruptcy in the UK should not turn on up on his credit rating in Australia so you should have no problems in that regard.
(08 November, 2007)

What credit card will approvew a discharged bankrupt and or how can i consolidate my debt of 5000 quickly
(Pauline Blair, Mentone, Australia - 08 November, 2007)

Sorry I am unaware of any institution that will approve for a credit card for a discharged bankrupt.
(08 November, 2007)

Hi,
I am recently married and my wife is 6 months pregnant.
My wife has over $60,000 in credit card debt which she has consolidated into two loans. This has all happened during an ugly period of her life 3 yrs ago where she went silly with the credit cards.
With the baby coming and obviously my wife will need stop working on December 1st, we simply cannot afford to pay these debts and support our other children (1 stepdaughter and 1 natural son) on my income alone.
I am earning $87,500 a year and my wife is currenty on $45,000. I have a 45k car loan at a massive unsecured interest rate of 14.5% and we pay $350 a week in rent.
85% of my wifes existing pay basically goes into servicing her debts.
We have looked at the situation as individuals and have decided that my wife will need to file for bankruptcy with full intention to pay when she returns to the workforce.
These debts are all in my wifes name and happened well before we met. My question is if my wife files for bankruptcy how will that affect my credit rating and what are the repurcussions for myself as her husband, if any as i look to refinance my car loan and future option to buy a new house.
Thank you...
(Billy Hall, Brisbane, Australia - 08 November, 2007)

You should have no problems with her Bankruptcy affecting your credit rating. If in the future you do apply for a home loan it will affect you if she needs to be a borrower on the loan. If she is less than 2 years out of bankruptcy you would be best to be the only borrower on a loan application for a home as it would be easier for you. Best of Luck
(08 November, 2007)

I had bad credit in the past but I believe I cleared it all up.

Last jan i was able to get a car loan with Toyota finance and I have not missed a payment or even been late.

I applied for a credit card this week and was declined. I thought things were going ok for me.

I was hoping to apply for a home loan in about 12 months time. I got the car loan so easily, now I cant even get a credit card, which it seems everybody seems to have.

Any advise ?
(David, sydney, australia - 07 December, 2007)

Firstly I would obtain a copy of your credit report. Head to http://www.mycreditfile.com.au/home/home_default.aspx. Once you have a copy of the file you will be able to determine if there are any outstanding defaults or judgements. To apply for a home loan in the future all outstanding items will need to be paid. The number and severity of the defaults will determine how difficult or easy it will be for you to apply for a home loan in the future.
(07 December, 2007)

can i borrow a large amount of money without having to do credit checks and go through employer details i want to get started on the road to financial freedom all i get every time i ask banks or credit providers for loans after going through all the paper work is no and i want a braek from a lender who can help me pay my existing loans i can't pay them off because i can never get some whose got the faith andhas the commitment to its customers and dedication to see it through please can you help me
(michael, south hedland, western australia - 17 December, 2007)

Sorry Michael but you will find that all lenders will do credit checks as part of the process to borrow a large sum of money. There are lenders though that will lend to credit impaired applicants.
(17 December, 2007)

I have been here for 6 months and under contract till 2011. I have credit cards that I have high balances on from making the move overseas and furnishing my home. I would like to do a consolidation loan but have problems with the bank and eloan to grant my consolidation. I meet all the income requirements and will to do this over a short term of 2 years. Is there any lender that will grant $25,000.00
(Charles, Sanhurst/Victoria, Australia - 17 December, 2007)

We haven't been able to find a lender in the past 6 months that will do non-resident personal loans. Sorry we can't be of assistance in this case.
(17 December, 2007)

Hi my wife is trying to get a home loan she has a good steady job good good money ,savings history,deposit of $20,000 and plus the first homowners grant on top of that. the home is $149,500 she signed a contract 6 months ago with a 12month settlement.the problem is getting a good intrest rate under 10% as she have a few defalts under her name thanks to her x partner.can you help .the stgeorge bankwho she applyed through are made not to lend to her but they have there rules.and nonconforming morgages who she also tried couldnt do a very good rate
(CHRIS, portland, australia - 20 December, 2007)

The nature and size of the defaults on her credit history will determine her risk level and interest rate. Also as she is needing to borrow more than 80% of the value of the property it can also have an influence on the rate. If you would like us to find other options for you please email info@donationhomeloans.com.au
(20 December, 2007)

i have a 4years visa to stay in the uk ,hopefully i would get the chance to live here,at the moment i am paying too much money on rent i think it would be easier to buy a house would i be able to get a loan
(shedeen, surrey, uk - 24 December, 2007)

Sorry I am not sure of the requirements for the UK. We only have details available for Australia. Best of Luck
(24 December, 2007)

Hi, I'm on a spouse visa, is there any possibility a lender would do a short-term (12 months) car loan? All signs so far seem to point to 'no' Thanks!
(Joe, ACT - 24 December, 2007)

Sorry it appears that no one is doing short term or personal loans for spouse visa anymore. It would be best to do the loan in your spouses name if possible.
(24 December, 2007)

Hi,
Im wanting to know both my partner and myself have a joint loan for our house, we have lived there together for under one year and are looking at breaking up. What are my options concerning our mortgage, house deeds, I am the main income earner, thus can afford to service the loan on my income alone as I would have a strong preference to keep what I have invested my time and efforts into.
(Bernard, Sydney, Australia - 02 January, 2008)

I would be seeking legal advice in terms of a property settlement. If you are looking to buy out your partner you would need to agree to a sum and then have the property transferred into your name alone and have the loan changed your name alone as well. It would be best to seek legal advice and have all matters completed by a solicitor.
(02 January, 2008)

My partner and I need to obtain a 95% low doc loan. Please could you advise details of the lenders who provide 95% low doc loans. My partner has just received his Australian Citizenship and I am on a De-facto Spouse Visa.
(Rachel Smith, Riordanvale 4800, Australia - 02 January, 2008)

There are lenders that provide 95% Low doc loans but they are difficult to obtain and expensive. You may run into trouble as you are not a Permanent Resident as yet. You may be only able to proceed with your partners name on the loan. If you would like more information please email info@donationhomeloans.com.au.
(02 January, 2008)

Hi, my husband and I are recently discharged bankrupts who live in Perth. I'd say you would know the house prices in Perth are crazy at $500'000 plus. We basically had to sell our home, and this happend before the boom and now we have no deposit and houses are $500'000 plus for a decent home. We have two children and earn a total of $63'000 per annum net. I'm starting to feel that us ever owning a home again will be zero. especially because 0f Perth prices and our income plus our bad credit. There is a company who told me that because you usually need more than 10% deposit to get qet a home loan for discharged bankrupts, they can look at a personal loan as the deposit. Can you give me your feedback on this? and also regarding equity share mortgages where investors can contribute, for low income earners that have bad credit. It would really be logical if companys could think of things like this if this could happen as most people in our situation would not have a deposit, and i'm sure most people would agree. I am also interested in finding out or starting some kind of forum or help line for people in our situation as there is nothing and people like us need support. If you can give me some advice or if anyone would like to help that would be great.
(Luise, Perth, Australia - 02 January, 2008)

Discharged Bankruptcy is highly variable when it comes to obtaining finance. It depends on current employment, time discharged and the reasons for bankruptcy. You just have to make sure you are comfortable with the terms of the loan you are taking out. Remember that personal loans are not paid at the same rate as a home loan. Having an investor contribute to your purchase can also come with pros and cons. It may work for you but be sure you understand ALL the terms and conditions and possible outcomes as it can sometimes not be what you think. Really the best option is to save. Should a good solid 6 months saving history and it goes a long way in making a better loan application. Best of Luck. If you require further information please email info@donationhomeloans.com.au
(02 January, 2008)

Hello,
We are ex bankrupt of 6 months, got a car loan of $22,000 to help start re building credit history, now we would like to get a credit card of $500. Doing this in order so that we can get a home loan in 2-3 years time, and I would like to have my own business by the time im 30 (25) now.
Who could we get a credit card thru?

Thank you
(Kellie, Melbourne, Australia - 02 January, 2008)

Generally you need to be Discharged Bankrupt for the 2 years however your best bet may be to try GE Money. Best of Luck
(02 January, 2008)

Hello, I am 48 years old and my hu3sband is 63, we have our mortgage paid off thank God, but we are wondering if its too late to buy a investment house? Also my son who is married and has two kids is living with us, as we wanted them to save money to buy there first home, unfortunatly my son isnt thing of buying his first home he wants to invest money first, also he would like his father to be his garantour for when he buyes his first investment property, My husband and I are a bid scared that if we do that what will happend if my son doesnt pay? will we then have to pay? and if we cant pay will we loose the only house we have? My son says that we would never loose our house because he claims that it doesnt work like that. Could you please advice us of the dangers involved in being a garatour. Thank you
(Carmen, Logan Central, Brisbane - 02 January, 2008)

Being a guarantor can come with a number of risks. Yes if the Borrower defaults on the loan and cannot make the repayments you are liable for the loan and all it's costs. It is always best to seek legal advice before entering into any legal contract. I have included the website for Legal Aid QLD for you to look at:
http://www.legalaid.qld.gov.au/Legal+Information/Living+in+the+community/Consumer+rights/Contracts+consumer+credit+guarantees.htm#risks
(02 January, 2008)

My daughter is self employed but is returning to college on a part time basis to complete her degree. During this time she will also seek work in her degree choice while working part time at her self employed business. She has credit card and a store loan totally approximately $35,000. She has stocks that she could sell for about $9,000. What she would like to do is to obtain a personal loan so she can consolidate all her loans and only have one payment to make. Do you think she would be successful inobtaining a loan, if so which company do you think might be able to help her. Thank you.
(Elaine Coates, Cairns, Australia - 02 January, 2008)

If she has good figures (tax returns) for the past 2 years for her self-employed years or good part-time income she may have some luck. She would be best to try either her current banking institution or a Credit Union.
(02 January, 2008)

Hi, my partner & I are in our early 40's & desparately want to purchase a home as soon as we can. However we have no savings, we don't qualify for FHOG & we owe $25k on a personal loan (9.95% interest rate) that we are paying off at $700 per month (we'd love to pay more but Child Care Fees, Rent & other living expenses prevent that at present). We have a 2 year old & another on the way. We have no major assets or investments, our combined income is $85k nett pa - this will grow as the children get older & my partner increases her workload. Our credit history is sound. As we see it, our only real option is to pay off the personal loan (which will take about 3 years) then save enough for the associated costs of purchasing a home & taking a 100% or 106% loan. Is there a way we could do this more quickly?
(Steve, Melbourne, Australia - 09 January, 2008)

As you don't qualify for the FHOG you don't have a headstart on the government fees that you need to pay when purchasing a home. If you are able to cover the costs of purchase there are 100% Home Loans available to you. 106% loans are becoming more difficult to obtain and are costly so if you can save the funds for the costs you are far better off.
(09 January, 2008)

My son is trying to buy out his wife on the family home.He already has a mortgage of $94,435 and will need another $170,000 to pay off this debt and buy out his wife.What is the best way for him to go about this?
(May, Mannering Park, Australia - 10 January, 2008)

He would be best to firstly discuss the option with his current lender. It needs to be determined if he can support the loan on his sole income and that the amount required does not exceed the value of the home. It is best to have a solicitor complete the transfer of land that will be required and of course be sure that the loan is transferred to his name alone as well. If he is having problems please feel free to email info@donationhomeloans.com.au for more personalised information or call 1300 30 99 79
(10 January, 2008)

Hi there
I have accepted an offer to work in Perth on a 457 (long stay) visa and expect to be in the country with my wife and child by the end of April 2008. I would like to find out whether a temporary resident can access vehicle finance? As a rule of thumb, what sort of interest premium would I be hit with, given my lack of credit history in Australia?
(Ron, Pretoria, South Africa - 10 January, 2008)

Sorry we have of late been able to find a lender that will accept a non-perm resident application for personal finance. Your best bet is to try a car dealer that has their own finance option. Most Car Loans vary from between 9%-12%. Best of Luck
(10 January, 2008)

Will an online pre-approval form/application show on my credit report? Or will only genuine applications show?
(Anna, QLD, Australia - 15 January, 2008)

You will find that unless you are asked to sign off on a privacy form they are not able to check your credit report or report to it. However if the application is for a credit card you may find that enquiry does show up on your credit report.
(15 January, 2008)

i earn 850 (gross) weekly. i have 1 default although paid and off my credit report aug, 2009, it doesn't help me now. i can't seem to find a personal loan anywhere! I would like to buy a cheap car, lounge siute and a couple of things for my children. Can you help??
(Ashley Heron, warracknabeal, australia - 17 January, 2008)

Your best chance for credit default personal loan is to try someone like GE Money or a Credit Union Branch. Best of Luck
(17 January, 2008)

how can I get a personal loan of 18000.00 to buye a new furnitures with large unpaied defaults with veda? I have a regular job with the public service .I tried all banks but I couldn't get a personal loan...is there any other ways to have this loan???thank you.
(nizar, adelaide, australia - 17 January, 2008)

Unpaid defaults are extremely difficult to get around. Best to pay the defaults then try again with you local Credit Union Branch for a personal loan. You may luck with GE Money but generally they will ask that that defaults are paid before they will lend the funds.
(17 January, 2008)

In regards to capital gains, if you don't earn any other money (income) does it reduce the amount you pay when selling a house?
(Melanie, HILLARYS, australia - 17 January, 2008)

You are always best to ask your accountant. However, you do not pay capital gains on the property that you live in. If it is an investment property you will. But how much you pay depends on a number of factors including what entity owns the property...trust, company or individual. Basically 50% of the profit from the sale is deamed to be income upon which your tax rate is based. I am not sure what your particular situation is so it is always best to check with your Accountant
(17 January, 2008)

Hi Mark or Dave
At the moment I don't have a job and I am on the single parenting pension and ftb part a and b. I have one child age5.
I have no deposit and no previous debts or unpaid bills I have no loans.
I have just returned to Australia after 2years traveling around the world with my wife and daughter but my wife has left me 1year and 6mths ago and lives in France.
I am looking into starting my own business but will definitely be working full time come 2009. is there some way that I can get a home loan and is this a wise choice. We would like to live in South Australia. Are there any rent to buy or owner finance or should I avoid the last two mentioned. I am permanent res since 1982. and am at the tender age of 35years old. thank you for your service and a happy new year.
my email for everyone to see
asktomkartar@yahoo.com.au
All the best Tom
(Tom, Sydney, Aus - 18 January, 2008)

It would be best to save a 3% deposit and be working full-time for at least 6 months. I would suggest not engaging in vendor finance deals but saving for the future and obtaining a loan from a reputable bank. Best of Luck
(18 January, 2008)

My husband has accepted a position with an australian company on a 4yr contract with the opportunity to apply for PR status. His income will be $150k per annum with bonus. I shall also be working and hope to earn approx $80k per annum giving us annual income of $230K - Can we get a mortgage with a 10% deposit / also can you advise of any car lease companies please, many thanks, Susan
(Susan Campbell, Brisbane, Australia - 21 January, 2008)

I am assuming you are both non-residents. This being the case you will find it difficult to obtain a 90% loan as most lenders will only go to 80%. Also being non-residents you will find it difficult to obtain a car loan. Your best bet is to apply for finance at the Car Dealer or see if you husband's company will support a lease for the car. Best of Luck. If you would like more personalised information please email info@donationhomeloans.com.au
(21 January, 2008)

In October this year it will be 5 years since I was declared bankrupt.
I earn $80,000 per year and my wife is at home and receives $650 pfn for our 4 children,the youngest is 10.
Will I be able to obtain a credit card and or any type of bank loans car/home once 5 years is up,or do i wait longer still.I was discharged in 2006(3 years).I have no debts.
Thanks for any information.
Regards
Stephen
(Stephen, Sydney, Australia - 21 January, 2008)

You may find you are able to obtain a credit card now but it is best to wait until you are 2 years discharged before applying for a home loan.
(21 January, 2008)

I have been on the sole parent payment with centrlink for 18yrs with three children and I have no equity at all and I have just started a casual job can I get a 200,000 home loan and be approved imeidietly for there is a house I am interested in and I cant find any one to approacn about this.
(Michelle, Mansfield Park, Australia - 22 January, 2008)

As a casual employee you would need a minimum of 12 months in the same job and have a deposit to contribute to the purchase.
(22 January, 2008)

Hi there

I am a single mum. I work part-time, receive a part single parent pension from Centrelink (inc FTB) and receive regular child support payments. I have checked my credit report, and I have two unpaid default from 2002, as the result of a clear-out. One is with AGC for $6376, and the other is with Debt Purchase for $662 (I believe this to be the collection agent for AGC). I am looking to upgrade my car as I do a lot of travel for work (3 hrs a day) and my old 1989 model is not lasting the distance. Do you think anyone would help me?

Many thanks

Allison
(Allison, Sanctuary Point, Australia - 29 January, 2008)

You may find that a car sales yard with their own finance may be able to assist you. Most Banks or Credit Unions will not be able to assist if they complete a credit check and see the unpaid defaults. Best of Luck
(29 January, 2008)

Hi there.

My partner and i currently earn around $100k a year- we have been knocked back for loan as i have a small default on my credit file and our savings history is not to good. We currently have around only $10k, we would be looking at a house and land package, we have finshed paying of personal loans recentlly and only have about $7000 in credit card debt. Do you think we should be able to get a loan.

I have nearly given up ...thanks
(candy, Blackburn, australia - 29 January, 2008)

If you are looking for a 100% loan any default is unacceptable. However if the default is under $500 and not to a credit provider but something like a telephone company default, you would be able to obtain a 95%-97% loan. You would need to save at least a 3% deposit plus costs. Both of these vary based on the purchase price. If you are a first home buyer you may also qualify for the first home owners grant as well to help you.
(29 January, 2008)

Hi there, I was wondering if you could advise me on which financial lenders could help us for a home loan.I am an australian self emplyed on a very low income, just recently cleared a small bad credit debt,it is very difficult to show my earnings from the past years as I have lived overseas on and off for many years, my spouse is on a 457 visa earning approx $150k secured for four years he has been in the country approx 1.5 years. We want him to stay a non resident for the meantime as financially it is better for us to do so. We have approx $60k saved in a deposit and want to buy a place for around $600k. Could you please possibly suggest what would be our best option in getting a home loan in our situation, and if you could suggest what lender would be best suited to us.
Thankyou
(Lou lou, nsw/bronte, australia - 30 January, 2008)

Yes there a couple of lenders that can help but we would need more information to ascertain which lender would be best suited. You will find that with only one of you being a resident most lenders will only lend to 80% of the value of the property. However there are a couple that will go higher.
(30 January, 2008)

We are on a Visa 457 - both my husband & I work = +$100p/a income. We are in the process of applying for residency but want to buy now due to the growth in Gympie and property prices are still affordable. We are aware that we need to apply to Government for approval first but can you help us with getting a loan. We would ideally like to buy land and build.
(Merle Welker, Gympie, Australia - 31 January, 2008)

Yes we can help you. You would be able to borrow up to 80% of the value of the property or the land and construction cost. If you would like more information please email info@donationhomeloans.com.au
(31 January, 2008)

i am a sole parent pensioner with a couple of defaults. i would like to apply for a personal loan for $10.000 to purchase a care and have some dental work done. the only places i have applied to have very very high interest rates. is there any way to avoid this?
(nicole, toongabbie, australia - 03 February, 2008)

I am afraid personal loans do carry higher rates than a home loan as well with a couple of defaults are considered a higher risk hence a higher rate. Have you tried GE Money?
(03 February, 2008)

Hi,
My partner and myself are on 457 visa and haver permanent jobs in australia (total income of 120/a. we have recieved pre grant for PR which is expected in April.
We have some saving and are looking for 80% finance to buy a house.
Can we get pre approval from bank with the clause that we will have our PR at the time we acquire the property?
(Mamta, Melbourne, Victoria - 03 February, 2008)

Yes you can apply for a pre-approval from the bank now. If you would like to start this process we can help you out.
(03 February, 2008)

Hi
My partner and I are looking at getting a home loan with his bank (Teachers Credit Union) and I have a question I am hoping you would be able to assist with. I have a default of $1500 from Telstra which I had no idea existed until recently at which I immediately paid the default which I then discovered someone who I got the phone for in my name hadn't paid the bill. This apparently occured in 2003 and is due to leave my credit history in August this year but to get a home loan we need to use both our incomes. We can fully support the loan of which my partner's wage would support the mortgage and mine would support us. I currently earn $2600 per month and my partner earns $3596. I want to know if my paid default will hinder us getting a home loan as we are sick of being in the rent trap. We are looking at a home loan of $300-$350,000 with 100% loan with his bank and having saved $10,000 to cover the Lenders Mortgage Insurance which they offer on a 100% home loan. Any advice would be greatly appreciated. Thanks
(Jen, Australia - 03 February, 2008)

Applying for a 100% loan will generally require a clean credit history. You may find with the TCU that since the credit default was with a Telco and not another credit institution and you are existing customers that they may be willing to overlook the default as it has now been paid. Best of Luck
(03 February, 2008)

Hi,
I'm working in Melbourne on a 457 visa. The visa is for 4 years. How can I get a car loan?
Thnx.
(Siva, Rowville, Australi - 06 February, 2008)

You are best to approach the car dealership for finance. Best of Luck
(06 February, 2008)

Is it possible to obtain a 100% home loan with an unpaid default of $5,000 I have no other debts I am long term employed and have an income of $65,000 + car and expense card I am also eligible for the 1st home buyers grant?
(Darren, Canberra, Australia - 06 February, 2008)

100% finance will require a clear credit history. You may have a chance if there is a good explaination for the default and it is paid.
(06 February, 2008)

Hi, my husband and i are want to buy our first home, we have 5 children, My Hubby get $610 a week after tax (soon to go up) and i get $912 a fortnight from family assistance, We are discharged bankrupts and i think there maybe a couple of defaults on our credit ratings, we are eligible for the FHOG and my in laws are willing to morgage there property for our deposit, but we are finding it hard to find some one to lend us the money, we have the means to pay it back, the house we are looking at is $155,000. Please if you can help you will make a young families Dream come true.
(BJ, Oakey, Australia - 08 February, 2008)

You would need to be at least 2years discharged bankrupt and all defaults would need to be paid. Really it would depend on the size and age of the other defaults as to how much you would be able to borrow. Generally speaking you might be able to borrow up to 80%. If you would like more information please email info@donationhomeloans.com.au
(08 February, 2008)

Hi, you were very helpful in the past regarding some issues I had, and now I would like some more advise.

My son is 22 and is working full time, but his income at this stage is only $33000. He lives at home with us. and pays no board or rent, we just want him to save and get ahead. He has saved $10,000 and wants to buy a block of land in Melton, Victoria. The block he wants is $90,000 but there are some cheaper ones too. He has no debts and has a good credit rating. Do you think he would be able to get a loan? thanks so much.
(DAvid, Sydney, Australia - 12 February, 2008)

With the information you have supplied he should be able to borrow for the land. Keep in mind though that the loan will need to increase if he also plans to build in the future so the less you can spend on the land now the more flexibility you will have in terms of being able to service a construction loan later. Best of Luck!
(12 February, 2008)

Hello
I would like to know if it is possible to get a joint mortgage in Australia with my partner who is from Ireland. He is currently working in Australia on a temporary visa with extension in 6 months.
Thanks
Renee
(Renee, Bondi, Australia - 21 February, 2008)

Yes you are able to as long as you are a permanent resident of Australia and you are both currently full-time employed. Best of Luck
(21 February, 2008)

Hi there,
I am currently looking at purchasing my first home (100% finance) over the next year or so. Saving for a deposit has not at all been possible over the past five years. I have just received a copy of my credit file and have one outstanding overdue account. (payment default) It does state that the entry will be removed on the 2/12/2010. I have been told by another broker that the default will have to be paid before applying for a home loan. This is the only problem I have on my credit report.. I bring home an average of $850.00pw in a full time position and have two dependants. Am I still able to apply for a 100% finance home loan or should I wait out the two years when the default is removed, as repaying the default will take up to 3years, and really want to get out of this rental trap I have been in for the past 7 years. Is there anybody that will help me with a home loan? or are there are other avenues I can explore?
Thank you for your time, Websites like these are great for us who have no idea about the real estate market, so thanks alot.
Kind regards
John
(John, Broadmeadows, Australia - 25 February, 2008)

You will need to pay the default BEFORE any loan application especially 100% finance. Also you will find that 100% solutions at a reasonable rate will require a clear credit history. That is the default will need to be removed. If you can even put $5 a week away it is a start in the right direction. Best of Luck!
(25 February, 2008)

i got caught with a bad car, consequently, after selling it i will be left with money to pay. being rural i need a decent sturdy 4 wheel drive, i need to get a loan to pay the rest of the old loan, and the new one over 5 yrs. am i better applying for a land loan first then can i combine the two?or is it possible to find a lender who will finance me. i have a good repayment record, and no other debts.
(lynne pringle, tully, australia - 19 March, 2008)

You are best to pay off the loan left by the old car unless you can organise with new car dealer to combine the two. To purchase land you will need to have savings for the deposit and the costs associated with the purchase.
(19 March, 2008)

I AM A APPRENTICE PLUMBER CURRENT SALARY £13,000PA I IN 6 MONTHS TIMIE I WILL BE 21 AND FULLY QUALLIFIED GASS PLUMBER WICH WILL SUBSTANTIALY INCREACE MY SALARY I WISH TO BUY MY FIRST HOME A 2 BEDROOM FLAT PRICE £70,000I HAVE £7,000DEPOSIT MY MOTHER WOULD ACT AS GAURANTOR SHE ERNS £6,000 P.A AND OWNS OUTRIGHT HER HOME VALUED AT £260,000 COULD WE GET A MORTGAGE?
(peter knowles, denbighshire, wales - 19 March, 2008)

Sorry we are based in Australia and have no experience in UK lending policy. Best of Luck!!!
(19 March, 2008)

My brother is currently undischarged bankrupt. He relies on my mum to drive him to and from work and anywhere else. He has 2 children he needs to transport aswell.He would like to apply for a $6000 car loan to unburden her. Is it possible to get a loan if he is still bankrupt. His debt before the bankruptcy was @ $20,000
(Tracy, Umina, Australia - 31 March, 2008)

Most lenders will not approve finance whilst the applicant is undischarged. However some car dealers are able to provide finance through their own financiers if you can prove an ability to pay. You may find however the interest rate will be significantly higher. Best of Luck
(31 March, 2008)

This must sound very repetitious by now for you guys... lol but...
I am a single mother on a centerlink pension totalling about $750 per ft plus $160 in child support per ft, i study psychology fulltime and it will be a few years before i am out of that and into the workforce. I am raising my 3 yr old in my ex's home, where i now have to leave and cant see how i can afford rent, it seems it would make more sense to buy, but i cant seem to see any way that i can accomplish this. I have no credit cards, and no debt, though when younger i did get bad credit for late bills ect. i really want to move home to qld but cant as my baby's dad lives here in berry. Is there any way i can get a loan... or any rich tall dark handsome guys you know that may want to buy an investment property in berry will a tenant to rent it really cheaply very very long term lol (or ladies, i wont complain)
Thanks, Mel
(Melissa Allen, berry, nsw - 08 April, 2008)

Difficult I am afraid to obtain a loan without a deposit and without full-time employment. Really you would need a very large deposit to obtain a loan. Sorry don't know anyone (male or female) with an investment property in Berry.
Best of Luck it sounds like you are working towards a better future everyday.
(08 April, 2008)

hi. im applying for a loan for a small business,for approx 6 year lease , my father is my gaurantourhe has no morgage hes paid it all ,he is 61 years of age, the bank told us they can not use my dad as agaurantour as hes entering retirement age,his income will not cover the expenses if worse came to worse, can you please tell me if there is a way around this, thankyou so much julie, my brother can also be partnership with my father if need be but he has no callateroll
(julie, n-wales, britain - 08 April, 2008)

Sorry we are unable to assist with loans outside of Australia. Best of Luck
(08 April, 2008)

Hi, we have recently offer a house and getting the loan sort out. I'm currently a permenant resident and my partner are holding SIR 475 visa, our first approach from ING bank is been approved but LMI doesn't accept it as my partner is holding a 475 visa. We basically borrowing 97%, my current income $55k+$25K permenant overtime/a ( as I'm working in the mine)and my partner income was around $28K/a. Is there anyway to get LMI approve?
(Alvin Lim, Kilburn/SA, Australia - 14 April, 2008)

Yes there are ways to obtain approval in this case. If you are able to service the loan on your income alone simply buy the property in your name only at first and complete a transfer once your partner achieves residency. ING may then be able to resubmit the loan and obtain approval. Otherwise we do have lenders that can assist where one applicant is not a resident. If you would like more assistance with a lender that might fit your needs please feel free to email info@donationhomeloans.com.au.
Best of Luck!
(14 April, 2008)

Hi, i am an overseas student and doing mba (acc), will i be able to get a credit card?
(divya, sydney, Australia - 22 April, 2008)

You may some trouble. A lot of lenders will now require that you are an Australian Resident and have some form of income. You may have some luck with Virgin Money or perhaps a Student Credit Union. Best of Luck
(22 April, 2008)

I am a teporary resident, and have a 4 year sponsorship. I have been with my current employer for a year, and would like to take out a personal loan of approx 2000 to pay the bond on my new place. I am finding it difficult finding a institution that will approve a personal loan to a non-resident. What are my options in terms of obtaining a personal loan?
(Rina Vermaak, NSW, Australia - 29 April, 2008)

I have to agree in the current climate it is difficult to find a lender that will allow a personal loan to a non-resident. Your best bet is someone like Virgin Money or a Building Society branch or apply for a credit card since the loan amount is quite small.
(29 April, 2008)

We are soon to be discharged bankrupts
(11 days!!). Our bankruptcy was due to the purchase of a bad business and prior to this we had an excellent credit rating. We are both in very secure fulltime positions and earning a combined income of $140,000 gross per year and four dependents.. What sort of % should we be aiming to save and how long should we wait before contacting a non-conforming lender to apply for a loan. We would be looking to borrow around $220,000 and neither of us are eligible for first home owners.
(Trudi, Tasmania, Australia - 14 May, 2008)

Once you are discharged bankrupt you can apply for a home loan. However it is difficult and you will need a large deposit. The longer you are discharged bankrupt the easier it becomes and the smaller the deposit required yourself. However you may find that until the bankruptcy is removed from your Credit Report you will need a minimum of 20% deposit and costs.
(14 May, 2008)

HI My Husband and I will be discharged bankrupts as of December 7th this year.We are desperate to purchase a house (it would be our first home).We are both now employed earning a combined income of approx $1,100 a week. We have no debts but neither do we have savings. Both in our early 40's and in secure employment.Is there any hope for us securing a home loan? Any helpful advice would be gratefully received thanks btw we have children but one works full time and the other is in an apprenticeship and working casually.Thanks in advance, Mark & Janette
(Janette Rehua, Nollamara, Australia - 14 May, 2008)

You need to be discharged bankrupt before applying for a home loan. In the meantime you need to save as big a deposit as possible. The longer you have been discharged bankrupt generally the greater the amount you are able to borrow in relation to the purchase price.
(14 May, 2008)

My Godfather owns a property in heathcote 3523, which he is selling for $125,000AU and found a buyer, the only problem is the purchaser is a real estate agent and we have to wait for a few things to come through before settlement can occur even though it was meant to be settled on the 30th, April 2008(long story cut short two contracts were signed but both vendor and puchaser signed different contracts and now are waiting for a section 55 of the realestate code to be done, so the contracts can be drawn up again and signed).

In the mean time a unit (which has been delivered to our house that he will be living in upon settlement) needs to be paid for. Can we get an interim loan for this pensioner to cover cost of the unit and connections/delivery valued at $55,000 until the settlement occurs which will be in the two months?
(Danni, Lockwood south, Australia - 14 May, 2008)

Yes this is something that would be achievable. You could setup a solicitor loan on the current property in Heathcote (you would need the purchasers consent to do this) and have the loan paid out upon the settlement. IF you would like more information please feel free to call 1300 30 99 79 or email info@donationhomeloans.com.au
(14 May, 2008)

hi i am almost 20yrs old in full time employment for the past 9 months earning approx $500 a week.I have no credit cards,loans, debts or savings.I would like to buy a home as I am still living with my family naturally I would be a first home buyer.What sort of income do I need to be earning in order to get a home loan? I have plenty of friends willing to be flatmates to help pay the mortgage is this taken into consideration when applying for a loan?
(Grace Greenwood, perth, australia - 15 May, 2008)

Based on the information provided I am assuming you are earning about $30,000 per year. You would qualify for a loan anywhere up to about $140,000. Lenders will not take into account a friend boarding with you. You must be able to make the loan repayments based on your own income. Your best strategy at this stage is to save, save, save a deposit and costs for the purchase. Best of Luck.
(15 May, 2008)

Hi I am a single mum, work full time been in this job 3 years, earn 43,000 a year and with family payment and child support have an income of around $50,000+ I have a personal loan of $20,000 down to $16,700 2 credit cards totalling $3,500 but only owe $2100. I had a house I bought before I met my ex husband but had to sell it when we were married. I am now not a first hme buyer, I sold my house about 9 years ago...stupid move...yes.
I am looking at houses around $280,000 to $300,000 dollars. I know on my sole income this would probably not be possible to secure this mortgage but I might be able to get someone to co-sign the mortgage but am wondering how much deposit I would need and any idea the best people to go through. I have a good credit history with no outstanding debts and currently no deposit
Thanks Jill
(Jillian mcCarthy, Gosnells, Australia - 29 May, 2008)

It would be best to save a 5% deposit and costs if you can as it will make the loan much cheaper for you. Also if you can pay off the personal loan as quickly as possible to increase your borrowing capacity. Best of Luck
(29 May, 2008)

I AM ON THE SINGLE MOTHERS PENSION AND DESPERATLY NEED A 5000 DOLLAR LOAN TO CONSOLODATE ALL OF MY EXPENSES AND BY FUNITURE FOR MY NEW HOUSE I RECIEVE 500 P/W AND ONLY PAY 200 RENT CAN YOU HELP ME
(rheeannon, hornsby sydney, AUSTRALIA - 29 May, 2008)

We are unable provide a personal loan of this nature. You best bet might be to try Cash Converters.
(29 May, 2008)

Hi. My husband and I moved to QLD in 2005 and lost everything in a bussiness. In NZ we were fulltime landlords but had become rent reliant and decided to start a bussiness. We Lost about 500,000 plus our home that we put $70000 cash into. We renovated and paid most debts out. My husband has a very bad credit rating now. We were hoping to begin again but when I did a credit check I found a commercial default for $15000. I am devestated. It was put on by a loan shark who I went to against my husbands wishs to try and save the bussines. We borrowed $75000 and paid back $55000. His interest was 5 % a month. We have been makking monthly paymnets and they did not inform us in writting or verbaly that they were going to do this, they said they would not do this???In NZ we were with the private bank BNZ and had a perfect credit file. I want to buy a house in Melbourne and expect to have a 40000 depsoit. I earn approc $2000 net a week. I am a casual worker. Can I get a mortgage. Instead could i give the money to my 18 year old daughter to buy the house in her name. She does not have a creit rating but with 1000 she has saved plus her fhg and my money should have a deposit of $50000. Is this an option. Kind regards Victoria.
(Victoria, Gold Coast, Australia - 29 May, 2008)

It would be difficult for you with an unpaid default left on your credit rating. You will find that the lender will require the default to be paid out before they settle the loan. You could help your daughter purchase the property but she needs to be working so as to show an income to support the loan if she is to be the only one on the loan. Otherwise you would most likely be able to borrow up to 80% of the value of the purchase so you would need to cover the 20% deposit and costs of the purchase. Best of Luck
(29 May, 2008)

Hi

I am moving to Melbourne next month on a 457 visa which should be approved for a period of 4 years. My annual income will be in the range of AUD 115,000, of which 85 k is fixed and 30k is variable.

Will I be able to 1) secure a credit card and 2) get a loan for a car? I can pay a down payment of 6-8 k for the car loan. The value of the car being looked at is in the range of AUD 30k.

I currenly reside in SIngapore and has an excellent credit history (a copy of the report is available for verification).

Cheers
Raj
(Raj - 29 May, 2008)

We have found that it is becoming more difficult for no non-residents to obtain car loans and credit cards. Your best bet is a credit union or a car dealership lender.
(29 May, 2008)

Hi Dave

My husband and I have a good income He takes home $1194 p/w and my take home pay is $550. He has a paid default with telstra and I have one with Sunshine loans for about $600 which was paid quickly. We have a personal loan that was $52000 now down to $25,000 and credit cards worth $10,000 we pay $85 a wk rent in a mining town where we have been for 2 yrs where my husband has been working in the mine. We want to buy a property back in Queensland around Warwick for around $300,000. My husband is trying for a transfer back to Queensland with the same company. Do you have any advise for us on where to start looking for a loan and how much deposit we would need and also if you need more deposit for rural loans.

Kind regards


Karen
(Karen, Jabiru, Australia - 29 May, 2008)

I would work towards a minimum of a 10% deposit plus costs. General rule of thumb is that the bigger the rural property the more difficult it is to obtain funding. Generally paid telstra defaults under $500 are ignored so you shouldn't have too many problems. Best of Luck
(29 May, 2008)

Hi,

I am currently on a single parent pension and family tax benefits. They are my only source of income and I wish to access a personal loan of $5000 to consolodate my debts. can you help?
(Hannah King - 16 June, 2008)

You would be best to discuss a small personal loan with your local Credit Union or Bendigo Bank Branch.
(16 June, 2008)

Hi, i'm a single mum with 4 children (ages ranging from 5-9)...i think i have a few defaults that havent been paid, am guessing around the total of 3-5 thousand...my only source of income is PPS and FA (averaging around $700 per wk)...curious to kno how i would go being approved of a home loan (entitled to FHOG) and for roughly how much? Thanx for ur help
(Triscia, Benalla, Aust - 16 June, 2008)

You would be best to clear up any defaults first. Head to www.mycreditfile.com.au to order a copy of your credit report to find out if there are any defaults. Then once cleared you would need to save a deposit and costs for the purchase to put you in the best position to apply for a home loan. Best of Luck
(16 June, 2008)

Hi I'm a single mum with one child looking to purchase home around about $250,000 in Taylors Hill, Delahay area. I work part-time and received Centrelink support - total weekly income after tax about $500. I have received $200,000 in property settlement. Would I have any problems borrowing $60,000 - $70,000?
thanks
(Liz, Yarraville, Australia - 16 June, 2008)

With your deposit you may you would have good chance of applying for a loan. You haven't mentioned if you have any other debt such as credit cards or personal loans but given the information to hand we would be able to secure you a loan for the purchase. If you would like for information please email info@donationhomeloans.com.au or call 1300 30 99 79
(16 June, 2008)

HI My partner and I are splitting up. We have a property worth $600,000, with $520,000 equity. My partner has agreed to take $200,000 as part of the settlement so I will have to refinance my current loan from $80,000 to $280,000. Still have plenty of equity - the problem is I work as a driving instrutor and my income is uneven. Can you advise who would be willing to lend to me. thanks
(Gene, Seddon, Australia - 16 June, 2008)

Are you a contractor or PAYG or self-employed. It would depend on your situation as to how to approach the loan application. If you would like assistance please call 1300 30 99 79 or email info@donationhomeloans.com.au
(16 June, 2008)

I currently owe $3500 on my home, Mortgage, due now before I lose my house, as i was out of work for 3months, I also have money oweing on my credit card about $9000 would i still be able to get a loan, To get back on my feet? My wife and I are both working at the moment. We have been making repayments but just havent been able to get the last lot of money together. Well not in a lump sum.
(Filipe, kingston, Australia - 16 June, 2008)

If you have some equity in your home you may be better off refinancing your current loan and credit card and clearing all outstanding amounts. Possibly you may need to change over to interest only repayments for a short time to catch up on the outstanding amounts. If you would like assistance please feel free to call 1300 30 99 79 or email info@donationhomeloans.com.au
(16 June, 2008)

Hi there - I currently have a part 9 debt agreement. Just after Chrsitmas I had to stop working for 2 months which put me behind in payments but I am back working full-time again. I earn $3,700 per month and would like to know if you can suggest any lenders that would give me a loan so I can consolidate a few things to get up to date? I do have a mortgage as well and am struggling with the payments due to being off work for a few months.
(Renee, Berwick, Australia - 26 June, 2008)

It would depend on how much equity there is in your home as to how much more you would be able to borrow to consolidate debt. To help you get back on track ask your current lender if they are able to change your loan over to interest only repayments for few months.
(26 June, 2008)

Hi I have a credit default related to a phone bill, how can i get a loan for a small buisness
(Cassie, vic, australia - 26 June, 2008)

You should be fine if it is paid, relatively small and you have a good explanation for the default.
If you would like assistance please feel free to call 1300 30 99 79 or email info@donationhomeloans.com.au
(26 June, 2008)

How can I apply for a unseccured personal loan to consolidate my debts that are in excess of $75,000.00 with real bad credit no banks will give the chance to correct my situation. My wife and I are able to pay $1000.00 per week for as long as the loan requires
(David Dunbar, Qld, Australia - 26 June, 2008)

You will find this extremely difficult for an unsecured loan with bad credit. You may be best to consult with a financial consultant to work out the best course of action to clear your defaults and current debts.
(26 June, 2008)

hi iam a single mother of 4 children and have been for almost 4 years i dont work just study and care for 2 disabled children which i get carrers allowance fro i also get max sole parent pension and max family taax a and b totalling 1900 per fortnight and 220 per month child support i have credit defaults on my file but nothing large and i have also held a number of loans with lenders which i have great ratings with and have all been paid on time or early iwas a discharged bankrupt in 1999 , and also i had a home when i was married through vendor finace which used my fhog what are my chances of getting a loan and how much deposit will i have to have or is it possible to get a full low doc loan and pay the fees out of my savings i have seen a house i want which is 90,000 is this possible ?? or am i just going to have to keep renting at 270 per week........
(melina, kyogle, australia - 01 July, 2008)

The first step would be to clear all unpaid defaults on your credit report if there are still any outstanding. Next you would need at least a 20% deposit plus costs and show a good savings history. Best of Luck! If you would like more information please email info@donationhomeloans.com.au
(01 July, 2008)

Do you finance a lesse for a hotel actual just need an overdraft as we have sufficient deposits
(Anna, Adelaide, Australia - 01 July, 2008)

Yes we can do business loans. If would like more information please email info@donationhomeloans.com.au with more information of your requirements
(01 July, 2008)

Hi there,

I am an OZ Citizen and my spouse is USA Citizen. We are planning a move to Aust soon. He owns property in the USA but we both do not own in Aust and are looking to purchase property there. He will be applying for PR and my question is will we be able to obtain a loan? What amount is required for the deposit and can my family be a guarantor? Also will we be eligible for the first home owners grant even though he owns property in the USA but not in Australia?
(Jo - 08 July, 2008)

You shouldn't have a problem obtaining a loan as you are a citizen once you have both started work. You shouldn't have a problem with the FHOG either. It would be best to work to a minimum 5% deposit plus costs. The greater the deposit you have the easier the loan application process will be.
You can have your family guarantee the loan but you will need to be able to service the loan on your own incomes.
(08 July, 2008)

I am 457 visa holder. working as fulltime ,permanent position.monthly income $4000. I would like to avail a loan amounting $ 6000 for personnel purpose. can you inform me am I eligible for the same. If eligible from where will get the loan.

thanks.
(soumya philip, nhill, australia - 14 July, 2008)

Personal loans are difficult for non residents. You may find your best bet is a Credit Union.
Best of Luck
(14 July, 2008)

Hi I just have a couple of questions. I am currently half way through my bankruptcy (I am due to end my 3 year bankruptcy period in November 09 for a debt of 13k) My partner is saving for a deposit for a house and is looking to buy in the next 6 - 12 months. I am obviously aware that due to my financial situation that I can not apply for a joint loan with him but my questions are a) will my bankruptcy directly effect his ability to borrow or buy a house (because we live together) & b) can I get into legal ramifications if I make contributions to his deposit or his home loan whilst I am in bankruptcy (can my bankruptcy be lengthen or can my contributions be taken off me) I am currently earning $40k + super and would be looking to pay 1/2 the monthly mortage repayments if it is possible to do so. Also, who would you recommend to speaking to regarding advice/arrange an apppointment re: how my bankruptcy can potentially affect my partners decision to buy a house, can you suggest a financial advisor, or a company?
(Nicole, Inner East - Melbourne, Australia - 23 July, 2008)

As long as you are not on the title or applying to be a party to the mortgage it will not affect him. As to when the funds are obtained to pay the mortgage, it won't be an issue. Funds say from a boarder could be part of a mortgage payment as long as it is paid.
Best of Luck
(23 July, 2008)

i have just started to look into getting my first home loan and have been informed of an unpaid default which seems related to a business i was involved in we sold in 2006 but the default has been put in in january when the new owners sold it again for some reason. the default is $14 000 and been informed by st george they can not assist but they have informed i have a borrowing capacity of over 500k.
i am looking at borring around 400k. have an income of $150k gross combined and barely any expenses. what would your advise be?
we also have $30 000 in cash
(daniel - 25 July, 2008)

You are best to resolve the issue with the unpaid default first. Any main stream lender will not accept the unpaid default as you found with St George. If you move to a non-conforming lender they will require that the default be paid before settlement and you will be paying a higher interest rate for your home loan.
Best Of Luck
(25 July, 2008)

Hi,
Me and my Fiancee are now looking at getting a 100% motrgage loan for our first house together, but i am worried because i owe 15,000 on my credit card which is always paid on time. Am i able to consolidate that debt with the loan or what would be my best option.
(Manny, Melbourne, Australia - 12 August, 2008)

As long as you still qualify for the loan with a $15,000 credit card and there are no defaults on issued on the card you can still borrow 100%. You would not be able to consolidate the debt though as to consolidate debt you need equity in the property you own. Best of Luck
(12 August, 2008)

Do you have any lenders that will lend Lo doc in 3272.Genworth flatly reject and PMI will consider on application but seem to saying no on application
(Graeme, 3272 - 12 August, 2008)

Yes but it would depend on the nature of the application. How much do you want to borrow? Is it a purchase or refinance? Is it rural property? How big is property? etc.
Best of Luck
(12 August, 2008)

Hi my husband and I have been discharged from bankrupcy for 2 years we are wondering what deposit we would need on a 300,000 dollar home loan thankyou nicky
(nicky marron, dingley village, australia - 13 August, 2008)

In the current market I would suggest that you would find it easy to obtain a loan with a 20% deposit plus costs. Best of Luck
(13 August, 2008)

hi, please kindly let me know the terms and condition for someone in Australia needs to know before getting a loan from UK and also how much do i need to pay for all the paper works to be done as i need a loan of $300,000 US. Jackson
(Jackson Martin, NSW, Australia - 29 August, 2008)

Sorry we are unable to assist with international loans. Best of Luck
(29 August, 2008)

- How can one obtain more accurate information on loans fees/costs (for terms, etc) from different lenders (Banks / mortage brokers) to compare to find which is best?.

I understand, “pre-qualification” loan estimate and or AAPR does not provide that level of detail to compare
(Robert Scott, Melbourne, Australia - 29 August, 2008)

We can provide you with more detail as to costs if you are able to provide us with more information about your lending requirements.
Please feel free to email info@donationhomeloans.com.au
(29 August, 2008)

i am a 457 visa holder, and on my second visa with 4 clear years ahead of it. am trying to get a personal loan to finance a vehicle and it seems the lenders won't consider my case as soon as they hear that my status is not yet permanent. any help on that?
(moses - 04 September, 2008)

Yes this does seem to be the answer in terms of a personal loan. Your best bet is either a community bank like Bendigo Bank or the Car Dealer themselves if they offer finance. Sorry personal loans for non permanent residents is very difficult. Best of Luck
(04 September, 2008)

Only a few months to go and I will be discharged bankrupt is there any chance I will be able to get a loan for a car? Currently borrowing one which needs to be returned and still need to get to work. Help panic setting in
(Mark, perth, australia - 04 September, 2008)

You may have more luck once you are discharged bankrupt in getting a car loan. Really it will depend on the lender and their lending criteria at the time. Best of Luck
(04 September, 2008)

My partner and I are seperating and have decided that the best way to handle our joint debts is to go 50/50 now seeing that the loans are in joint names am I able to cosolidate my half of the debts or do we have to wipe hers or my name off them first?
(Adam, Alice Springs, Australia - 10 September, 2008)

If the loans you are talking about are secured by a residential property and you wish to payout the other you may find that there is enough equity in the house to refinance your own portion of the loan, payout your partner and consolidate your other debts. However personal loans are more difficult to consolidate as they are not secured. You may find it easier to work out who is to pay which personal loan. Best of Luck
(10 September, 2008)

Hello. We are looking for a lender who will do a low-doc loan with 80%LVR. Will be refinancing existing home (13 acred zoned rural living) and purchasing land to build new home (30 acres zoned rural living). Can you please contact me if you have lenders who will consider.
(Sue Parkinson, Bendigo, Australia - 10 September, 2008)

This is possible. The vacant land would be more difficult than the residential property. If you like we can have a representative contact you with more information. Or you can email us at info@donationhomeloans.com.au
(10 September, 2008)

Is it possible to obtain a personal loan if you are on a temp contract? (say for e.g. a 3 month duration but with the possible option of a rollover period or offer of FT work)
(Richard - 22 September, 2008)

You will find it difficult. Best to try your local Bank of Building Society Branch.
(22 September, 2008)

having arrived recently in WA, we opened a Bnak Account at Bank West, and were told that because of our temp residence status we did not qualify for credit. Can we get finance for a motor car..we are renting a house and I am working for a company that has sponsered me for 4 years, and have indicated that they will sponsor me for as long as it takes to get PR. Please advise!!

Thanks
(PETER, Perth, Australia - 22 September, 2008)

I am afraid we know of one that will now lend to non-residents for personal items. You are able to borrow for property purchases however with FIRB approval. You may have more luck if the car dealer has in-house finance options available. Best of Luck
(22 September, 2008)

Hi,

my partner has a loan for a unit (206,000) and we are looking to purchase something else together to live in and rent our his place, is that possible?

He earns 2800 per month after tax and a car loan of 480 per month.

I earn 2,500 per month after tax with no car loan.

We have no despoist at the moment.

Around about how much do you think we could borrow?

Thank you,

Neither of us has had any credit issues in the pass.
(Meagan, Melbourne, Australia - 24 September, 2008)

Yes it is possible. You may find that you have enough equity in the existing property to borrow funds for a deposit and costs on the new purchase.
(24 September, 2008)

Hi,
I am living in Australia (Brisbane) and i am here on a temporary Spouse visa as my wife is Australian.

I am the main income earner as my wife looks after our daughter.

I am wanting to get a car loan but have found it impsooible to get acceptance due to my residency status. My permenant residency is due to be granted in 3 months but no one wants to know.

I have even been able to provide an Australian guarantor but still that makes no difference.

Does anyone know of any company that will give loans to non permenant residents in my situation? Any help would be greatly appreciated.

Kind regards,

Nick.
(Nick, Brisbane, Australia - 24 September, 2008)

This now appears to be the problem all non-residents are finding. It is easier to get a home loan than a car loan. Your best bet is to try a car yard that handles their own finance. Sorry I know of no lender that can help at this time. Best of Luck
(24 September, 2008)

I am a single mum of 2, receiving a sole parents pension, and carers allowance, for my autistic son, i am in the process of receiving an inheritance, and would like to buy a house for myself and boys, I may have around $100,000 or more, wondering if theres a lender who would lend me another $100,000, I would have half of the purchase price. thanks debbie
(Debbie Dunston, Taree, Australia - 02 October, 2008)

There are not many lenders left that will lend to someone without another means of support. However given the loan will be only about 50% of the purchase price you may have luck. If you would like assistance please email info@donationhomeloans.com.au
(02 October, 2008)

I would like to know if any financial institutions woudl lend me around $4,000 while I am on Centrelink payment. I have 2 Paid Defaults and it was almost 2 years ago.

Thank you for your suggestion
(Victori Chan, Melbourne, Australia - 02 October, 2008)

You would be best to try your local bank branch or credit union.
(02 October, 2008)

I have two houses last val 685k with debt 0f 627kin joint names (partner and i seperating) with 50k defaults I am currently applying to apra for super release but is not going to be enough additionally 70k in personal and my ex has pretty much wiped her hands of anything and refuses to pay I am pretty close to being blackmarked any ideas?
(dan - 02 October, 2008)

A difficutly situation. You would not have equity in the propeties to refinance and payout all debts. You would be best to consult a solicitor or sell all assets to clear as much debt as possible. Best of Luck
(02 October, 2008)

i am looking at getting a sole house loan, i have heard my borrowing power may increase if i state my partner will be paying rent, will this effect him if he wants to get the first home owners down the track? i dont want it to effect him if we split and he wants his own home and grant
(renate, annandale, australia - 02 October, 2008)

There are still some lenders that will accept board as servicing income for a loan. As long as your partners name is not on the title he will still be eligible to apply for the FHOG in the future.
(02 October, 2008)

just wondering if ther is anyone who will lend to current bankrupts still have 2 years to go
(Mr&Mrs Murray, Emu plains, nsw - 06 October, 2008)

Sorry. Once you have been discharged a minimum of 6months you will have more luck. Best of Luck
(06 October, 2008)

Hi,
Thank you for your time. My partner and I are 1 year out of bankruptcy. We have a car loan of 19,000 that was taken out last year in order to help our credit rating. We haven't missed any payments and pay a little bit extra on it. We are wanting to go for a home loan, Nothing more then $350,000 with a down payment of $30,000. My Partner makes $90,000 a year. Would anyone be interested in leading to us?
Thank you once again.
(Kellie, Tarneit, Australia - 08 October, 2008)

The most you would be able to borrow at this point would be 80% of the value of the purchase. On a $350,000 purchase the loan amount would be $297,500. You would require the full 15% deposit plus the costs of the purchase. Once you have been discharged for 2 years your options are increased. Best of Luck
(08 October, 2008)

My brother is looking to apply for a personal loan for around $50K to puy a car and payout a family debt but has 2 paid defaults on his credit report. One is from a Bank and is around $25K which was paid out in Jan this year, the other is a small utility account which has also been paid out. He is in full time employment earning good wages through Dept of Defence. He is worried about his chances of having a loan approved ebcause of the credit history, what do you think?
(Helen, Melbourne, Australia - 09 October, 2008)

$50,000 is more difficult to borrow currently. You may find though that completing the finance through the car dealer that the lender will not do a credit check given they have the car as security. You may find it more difficult though to obtain a personal loan to payout the family debts as this would an unsecured loan and the bank will almost always do a credit check. However given the debts have been paid out you may be find for a small loan. Best of Luck
(09 October, 2008)

Hi would like to find out somethings. First I was working for a singapore company on attachment for the last 20mths and recently got a job with a australia firm on a 457 visa. As I'm set on settling down here for good and my company only sponsoring the PR application only after 18mths (sponsoring of 457 visa + relocation money) And during the last month and a half when i went back Singapore so they can lodge my 457 visa I miss out on my payment for my personal loan (for car n is from a credit union) but have called them as soon as I got back that I will bring it up to date in the next couple of months by paying more than (which they agreed) the forthnightly ($350 but paying $500) will this affect my credit? And another thing is as Me, wife and daughter is set on becoming applying for PR and then to Resident status but presently on 457 visa are we eligible for the 1st home owner scheme and will the above affect my loan application. And my wife will be working on a causal permenant working mum timing between 9 to 2pm and get abt 500pw before tax and I get abt 52k annual before tax and overtime what is the amount of loan I can get and up to how many % (100%, 106%) of the value of the home I can borrow?
(Daniel, Ellenbrook, Wa, Australia Perth - 15 October, 2008)

The first thing to do would be to check your credit report to see if the missed payments were lodged as default by your current lender. Go to http://www.mycreditfile.com.au/.
As non PR the most you could borrow would be between 70% to 80% and you may also require Foreign Investment Review Board approval. http://www.firb.gov.au/content/default.asp
As for the First Home Owner Grant one applicant must be a permanent resident or Australian Citizen.
http://www.sro.vic.gov.au/sro/srowebsite.nsf/revenue/FHOG-Form-2/$FILE/FHOG-Form-2.pdf
Best to have a history of 6 months employment here a good 6 months savings history to support your home loan application. Best of Luck
(15 October, 2008)

I have been cleared of bankruptsy for just under two years , is it possible to get a personal loan .
I work part time and im a part time student , it would seem my problem is ive only been employed for about two months in my current job , so the question is , is a loan still possible
(don chamberlain, kalgoorlie, western australia - 15 October, 2008)

Given the part-time nature and length of time of your employment you will find it difficult to obtain a personal loan. Best to try your local Credit Union. Best to Luck
(15 October, 2008)

Hi I have just discharged a part nine one year early than agreed I have 20% deposit and am looking at borrowing 152000 for a 190000 house I work and my income is 58000 with no debts 2 late payments on my credit history and
how would I go for a home loan
(Dee, Melbourne, Australia - 15 October, 2008)

At 80% you may have some luck. However you mentioned that there are 2 late payments on your credit history. If these are outstanding they would need to be cleared before applying for a loan. Any further questions please feel free to call or email info@donationhomeloans.com.au. Best of Luck
(15 October, 2008)

My fiancé is in Australia on a defacto visa 309 with temporary residence status. We both have good credit history, we both earn good money so we know our borrowing capacity is fine. We have 20% deposit ready to go and we want to buy a house asap, can you tell me which lenders would be most likely to lend to us?
(beth, weston ACT, Australia - 20 October, 2008)

You should no trouble borrowing with any of the major lenders. If you would like assistance please email info@donationhomeloans.com.au and we can put together an application for you with a range of lenders. Best of Luck
(20 October, 2008)

My Husband is looking to get a homeloan just in his name as I am bankrupt, he earns $60000 a year and as a car loan of $4000, we have a son, which we recieve a FTB of $218 a fortnight, he has a couple of unpaid defaults on his credit rating, he is entitled to the FHBG, can he use that as a deposit has we havent got a deposit, would they include the FTb as income for him even though it is in my name. What would his chances be of getting a home loan?
(amy, ormeau, austalia - 23 October, 2008)

The Family Benefits could not be included as they are in your name. It would be best to pay all unpaid defaults on his credit report before applying for a loan and also establish at least 3month savings history to give you best chance of obtaining a loan. Best of Luck
(23 October, 2008)

hi we r looking for a home loan for land and construction is it possible to get one when we have unpaid defaults of about 5000 between us and is it possible to get it financed 100%
(Teresa, elizabeth east sa, australia - 24 October, 2008)

You would need to make sure the defaults are paid before applying for any loan. Best to get them paid first and establish a small savings history for about 3 to 6 months for your best chance. Best of Luck
(24 October, 2008)

Hi I'm currently thinking about purchasing land and building a house. So I would require a loan. I have been working at my current job for over 3 years fulltime. My income is 48,000 a year. I have no debts or credit defaults. I am eligible for the FHBG. I have savings of 10,000. what i want to know would I qualify for a loan to purchase a house and land of around 300,000. I have elderly parents and a sister, whom do not work, but contribute $660 a fornight for their rent. This will continue if I purchased a house,as they will move in. I have no other commitments except paying the rent where I currently live. Do you think any banks would offer a 100% loan, using some of the FHBG for a deposit and buying cost or should I keep saving for more of a deposit. Do you think I can get a loan on my own and on my salary.
(Tracey, Pascoe Vale, Australia - 29 October, 2008)

Yes I think you would have a good chance of obtaining a construction loan and possibly even 100% depending on the location. I would use the FHBG and your savings to put towards the purchase though. If you would like to do a pre-approval please email info@donationhomeloans.com.au and we can start the application process for you. Best of Luck
(29 October, 2008)

i own my own home outright, i owe money on my land rates, im in debt up to my eye balls. im unemployed and have unpaid defaults and bad credit. what are my options?
(tracey, east maitland, australia - 29 October, 2008)

You may have some options available to you, but we would require more information. For instance the value of your property and how much do you require to clear all debts? If you would like assistance please email info@donationhomeloans.com.au.
(29 October, 2008)

Hi,

I am a sole parent of a 11yo, and hope to build a new home in the future (<12mths). I am eligible for the Government Grant and stamp duty concessions.

I have been self employed (part time) for the past 4 years averaging $500 per week and in receipt of the Sole Parent Pension plus Family Allowance (approx $750 per fortnight combined). I also receive approx $4100 child support annually.

Over the past 2-3mths I have managed to save $1500 for the purpose of establishing a savings history, and intend to continue adding to this as much as possible.

I have 2 credit cards - one I owe $9000 (limit $17100) and paying off fortnightly at above minimum repayment ; and the other owing $0 (limit $10500). I currently pay $240 per week rent and have just finished paying off my car loan early (freeing me of repayments of $270 per month).

I have an excellent credit history with no defaults/blemishes!

Questions:
Are there any lenders that will utilise the Government Grant ($21000+) towards a deposit and fees?

As I complete my own tax returns (ie. do not use an accountant), I assume I can only apply for a low-doc home loan - correct?

Are there any lenders offering 100% low-doc loans - if not, are there lenders that provide 95% loans?

How likely am I able to obtain a loan for $200-250,000?

(ps. I sent this directly to your email noted in previous answers but haven't had a response to date)
(Michelle, Berwick, Australia - 30 October, 2008)

Response emailed directly to x_mk_x@smartchat.net.au
(30 October, 2008)

I read through the questions other's had asked and although similar, did not quite match my situtation. I have two paid defaults on my credit file (both finalised in 2006). I recently discovered that one default although finalised in 2006 has only recently been updated on my file, at my request. I spent a few weeks trying to pay the bill before I was advised I had paid it over 2 years earlier. I earn $3600 net per month, have no debts or credit cards. Rent is $640 per week. I have a detailed budget plan drawn up which shows my monthly savings allowed of approximately $1200. This amount is determined after ALL bills and other necessary items including entertainment. I have a vehicle which is valued at between $3500 - $5000 (unencumbered) which I am prepared to use as security if necessary. Are there any lenders who would provide a personal loan for $5000 on a term of 12 months? I am not eligible for a credit card (nor do I want one) due to my paid defaults but I would like to be able to take a holiday and start my investment plan.
(Melinda, Sydney, Australia - 05 November, 2008)

For a personal loan you are best to see your local branch bank manager. If the paid defaults become an issue be prepared to show that the default was paid over 2 years ago however only updated at your request to show it was paid. Generally smaller defaults paid over 2 years ago will be ignored. Best of Luck
(05 November, 2008)

Hoping you can help i would like to buy a home i am not entitled to the first home owners grant as i have owned 3 homes before however thru a business that went belly up i am a discharged bankrupt from the year 2000 and was discharged in 2003 i have since had a car loan of 20,000 which is now complete and did not miss a payment over the 5 years and have had some interest free loans also with no payments missed and they are now finished i have no bills at current but have no deposit but have a income of $65,000 per year am i able to get a 100% loan or a 106% loan for a home at a reasonable interest rate?
(Debbie, Adamstown, Australia - 05 November, 2008)

You are better off at least saving to cover your costs to show a good savings history to support your application. There are still a few 100% loans available, however as your bankruptcy will still show on your credit report you may some difficulty obtaining a 100% loan. Best of Luck
(05 November, 2008)

Hi ,

I am an Australian Permanent resident , My husband is here on the spouse visa 309. we have a daughter who is Australian citizen. we want to apply for the government shared equity scheme. Will we be eligible? and are we eligible for the first home owner grant? My husband is the sole income earner. how difficult is it to get a home loan with banks if we dont qualify for Keystart?
(chandhini, perth, australia - 10 November, 2008)

For information regarding Shared Equity Loans in WA see the following: http://www.keystart.com.au/key/FirstStartv2Brochure.pdf
You would be best to call 1300 KSTART to see if you are eligible.
You would be able to borrow for a home as long as you both are on the title and the loan however you would need at least a 5% deposit plus costs.
Best of Luck
(10 November, 2008)

hi im looking to get a personal loan of about $5,000 but i only receive new start from centerlink i also have a defacto partner who recives disability support pension. i have an unpaid credit default of over a $1000 and we have been forced out of our rented property at short notice we have to move out right now, the money is to be used for paying the default and bond+moving cost. my defacto partener will be getting $1400 on december the 8th but we need the money now so we want to put that money towards the personal loan we are in a bad way at this moment can anyone help us please
(cj, adelaide, south australia - 10 November, 2008)

You will find it difficult to obtain a personal loan without paid employment. You may be best to seek support from your local housing support community group to assist with the move. Best of Luck
(10 November, 2008)

i need a car vloan am on a single mothers pension can you help ?
(natalie, cloverdale, australia - 18 November, 2008)

Sorry we are unable to do car loans on a pension alone. Best of Luck
(18 November, 2008)

our home is currently under vendor financing and we wish to refinance it into our name. the past 12 months have been hard due to illness but we now feel we are back on track and able to meet this commitment. we have been unsucsessful in gaining a loan with one finance company due to a paid default and because of the time off work. They state we will not be able to get finance.we know we are capable of paying our loan as we have been regular under the finance terms with the vendor and at a higher rate!! please will some one give us a fair go.
(Jean Marie, Kelso, Australia - 18 November, 2008)

It will depend on the nature and how much the unpaid default is for. Also how long you have been back in paid employment. Is there any probation period to be completed? With this information we would be able to assist you further. If you would like more information please email info@donationhomeloans.com.au
(18 November, 2008)

Hi there, I am recently separated from my husband of 5 years and is staying with my folks. I have 3 very young preschoolers and is currently receiving about $600 per week from the government. I am also having child support from my husband at $300 pw. I used to work with my husband on the family business and my last ITR was $70K. However, as he took away my car and i need a car urgently for my 3 kids to go to school, i am applying for a personal loan of $20 000. I am lucky to have found a casual work which gives me about $747 pw part time. I am unsure after reading all the entries here if I will be successful with my loan application. If not for the separation, I will still be earning 70k pa. I found a high paying job immediately after the day i left him. What are my chances in gtetting my loan approved? Thanks.
(Nicole P, Kingsford, Au - 25 November, 2008)

Your application will be based on your current situtation. But if you are doing the same type of work you were in your husband's business you can prove a continuity of employment. As the nature of your employment is casual you may find it more difficult and will have to show a longer period of employment with that employer. Best of Luck.
(25 November, 2008)

Hi There.... I have been declined for many credit applications, so I obtained a copy of my credit history. I have one unpaid default for $346 with Optus.
I'm 27, employed full time (been at current job for 4mths now and my previous job for 8mths) living at same residence for 13months.
I would like to obtain either a personal loan or a car loan and don't want any one to go Guarantor either.
Is there any way I can obtain a loan with this small mark on my file?? Also i was informed that applying for a few loans/credit is reflected negatively when lenders look at your application - is this true and why?
Thanks so much
Sarah
(Sarah, Sydney, Australia - 28 November, 2008)

You are best to clear the default first. Having many enquiries show on your CRA can be viewed negatively as it shows someone being unable to obtain credit from many and varied lenders and they wonder why. Or alternatively if the loans are not disclosed and have been taken up according to the enquiries why haven't you mentioned the loans in your application? Once you have the default cleared up and a good explanation as to why the default occurred you will find applying for finance much easier. Best of Luck
(28 November, 2008)

Hello, I am currently under a part 9 agreement (Feb 2007 - due to end Feb 2010) for $15000. I am looking at borriwng $6000 to make some large purcahses. I currently earn $1389 pfn (after tax) in stable employment. Would this be possible?
(Catherine, Aitkenvale, Australia - 03 December, 2008)

Unfortunately we do not know of any lender that will be able to help you out with a personal loan. Best of Luck
(03 December, 2008)

Im a single mother who just recently lost her job im wondering is there any way i could get my mortgage and personnel loan combined to one bill. The only form of income is pension
(jennifer, mansfield, vic - 03 December, 2008)

If you have a very low loan to value (value of home) ratio you may have the ability to combine the 2 loans. If you would like more information please email info@donationhomeloans.com.au Best of Luck
(03 December, 2008)

Hi I am wondering if you can give me some advise? My husband and I are after a no deposit home loan but he has 1 paid credit default on his file which is from Onetel for about $1500. It has been paid since Jan 2007 and due to come off his credit rating in Aug 2010 but we don't want to wait that long. We both have stable full time jobs, he has been with the company for 8 years and I have been with my organistation for over 3 years. He earns about $650 a week (more depending on bonuses and overtime) and I earn $550 a week. We also have 1 dependent who is at school. What are our chances of getting a loan for $250000 - $280000 with no deposit? We are eligible for the FHOG.
(Danielle, Ipswich, QLD, Australia - 08 December, 2008)

It would most likely be extremely difficult to obtain a 100% loan with a default even though it is paid. However if there is a very good explanation for the default and it was paid very soon after it was listed we could make argument to have it ignored. If you would like to apply please email info@donationhomeloans.com.au. Best of Luck
(08 December, 2008)

Hi, my dad is on the disability pension and my mum is on the carers pension so they can't work and get money off the government. They have two kids living at home, one paying money each week. Would they be able to get a home loan?
(Hazel, QLD - 08 December, 2008)

As long as you can service the loan you would be able to borrow up to 80% of the value of the property. Best of Luck
(08 December, 2008)

Hi, I would like to purchase my first house towards the end of this year (2009). I earn $75,000 before tax, and am in a professional occupation. My issue is that I have around $30,000 in credit card debt, and one paid default of $2,000. And no savings history. What are my options? Would I be eligible for any type of home loans? Many thanks.
(Diana, Melbourne, Australia - 06 January, 2009)

You would be best to have a savings history of 6 months. Having a default makes 100% loans very difficult so you are best to save a deposit. Best of Luck
(06 January, 2009)

Im currently in a part 9 debt areement which is finished being paid of at the end of 2009. Im trying to get out of the rent cycle and purchase my own home .I qualify for the (FHOG ) But i am findind it difficult to get a loan to purchase a house is there any chance of someone getting a loan to buy a house
(Michelle McIvor, Raby, Sydney - 07 January, 2009)

In the current market it will be difficult. But if you have a good deposit you may be able to borrow for a house purchase at 60% of the value of the purchase. Best of Luck
(07 January, 2009)

I am a single mum with a low deposit and am desparate to buy a home for my kids. Can you help me somehow I am sick of paying high rent and not getting anywhere.
(Helen, Brisbane, Australia - 07 January, 2009)

How much you can borrow would depend on your deposit and how much income you earn but it is possible.
(07 January, 2009)

I am currently bankrupt can I apply for a short term loan for $2000.00 for 3 months?
(Tammy, redcliffe, australia - 07 January, 2009)

Sorry we are unable to assist with unsecured short term personal loans. Best of Luck
(07 January, 2009)

I am here on a spouse visa and would be getting my PR in two months my wife has a PR and already appliedd for citizenship. We both together earn about 110K a year ,We have singed contract for a house for 320k I have applied for FIRB approval as well.Homestart sa finnace have rejected our loan applicaaion because i dont have PR.will it be possible for us to get loan .We can only pay 5% deposit and our contract expires on last week of feb.Help me with some information
(joseph mathew, whyalla Sa, Australia - 12 January, 2009)

Yes there are some options for you as a non PR. However they do require a minimum 10% deposit.
(12 January, 2009)

Hi..
I am in receipt of a disability pension ($1368 per month), have no debt, own my car, eligible for the First Home Owners Grant, currently renting $600.00 per month . I would like to buy my first home, land ($50,000.00) and kit home ($50,000.00) over 25-30 years, would I be eligible for a loan. Also I have heard about first start shared equity loans, can you tell me more about these loans?
Kind regards
Diane
(Diane Buckler, Kingswood, Australia - 12 January, 2009)

First Start Shared Equity loans is a scheme offered by the Western Australian Government. For more information please see :-http://www.keystart.com.au/key/FirstStartv2Brochure.pdf.
Yes you can borrow for a home loan as long as you can service the loan on your pension. However portable kit homes can sometimes prove difficult to borrow against.
(12 January, 2009)

my partner has securer job i am on family ass and parent payments we both have a little bad credit and have about 20000 deposit we r after a 200000 or 220000 first home loan.Is it possible
(sandra - 12 January, 2009)

If you have any outstanding debts they do need to be out. You would be best to clear these debts and show a good savings history before applying. Then it will depend on what the bad credit was as to how much you will be able to borrow. If you would like more information please email info@donationhomeloans.com.au
(12 January, 2009)

hi i am a resident of australia and my wife is on a temporary spouse visa until augast then she become permanent resident,can we borrow early to avoid missing the double fhg, i need to include her income i think.she is working in aged care .thank you
(stuart, melbourne/mooroolbark, australia - 14 January, 2009)

Yes you can borrow as one of you is a permanent resident. However you will require a 10% deposit and a genuine savings history.
(14 January, 2009)

Hi, I hold (2years) working visa at mining consultancies company. I have been in australia for 6 month. Do you know any financier able to lend $10,000 for 18 month? I need to send the money back to my country for my parent's hospital expense and pay $2500 for my homephone bill as I made a lot of international call due to that reason. I have try numbers of Bank for both personal loan and credit cardbut none of them able to do that. I earn AUD 60.000 annually.
(Chris, Melbourne, Australia - 20 January, 2009)

Sorry we have been unable to find a lender for your purposes. Possibly you will have luck with Virgin credit cards. Best of Luck
(20 January, 2009)

I AM A DISCHARGED BANKRUPT.I WOULD LIKE TO HAVE A CREDIT CARD. I HAVE NO LIABILITIES AND VERY FEW ASSETTS HOWEVER I DO HAVE A JOB HAVE HAD FOR 4 YEARS. AND I HAVENT APPLIED TO BORROW ANYTHING IN THAT TIME. I WAS DISCHARGED LAST SEPTEMBER..
(IAN, MELBOURNE, AUSTRALIA - 21 January, 2009)

Sorry we don't issue credit cards however you may find it difficult to obtain a credit card. You may be lucky obtaining one with a small limit given you strong employment history. Best to try a branch where you can speak directly with a consultant.
(21 January, 2009)

Do you do home loans for lease hold land?
(trevena, mt magnet, australia - 23 January, 2009)

Yes we can. It will depend on what it is and where the property is located.
(23 January, 2009)

Hi,

My partner and I would liek to purchase our first home and we earn $100k together. Unfortunetly I am a discharged Part 9 and he has a paid judgement and these were from 4 years ago. Would we still qualify for a home loan and if so how much deposit should we aim to have? Thanks
(Kirsten, Sydney, Australia - 23 January, 2009)

Depending on how long you have been discharged you would be looking at an 80% loan. So you would need to cover a 20% deposit plus costs. Best of Luck
(23 January, 2009)

we are in the course of obtaining permanent residency for australia and will be moving to brisbane . Can you tell me what deposit is required for a mortgage and do we need to rent for a period of time to build up credit rating first?
(colin eke, uk - 27 January, 2009)

You will need a 10% deposit plus costs for your purchase. Also a strong employment history and not be in a probationary period. Best of Luck
(27 January, 2009)

My son who has been on a centrelink long term pension is now working on temping assignments. i am also on a Centrlink pension Together we have about $20,000 deposit. our combined income is about 2,200 fortnightly and we are paying rent $275 a week. We would like to own our property. My son would be the main buyer so he may benefit of the first home grant. Is there anyone who may be able to lend him the required amount.
(Desiree, St Helens Park, Australia - 27 January, 2009)

It would be extremely difficult at this point as permanent employment is required. Contractors or temping employment will be considered if it has been consist for a minimum 12 months. Best of Luck
(27 January, 2009)

Hi im writting to ask about getting a mortgage for my partner and i. My girlfriend has an Australian passport and i have a defacto spouse visa for 2yrs and we are wondering if we can both apply for mortgage and was wondering if there would be any complications in getting a mortgage can anyone advise please thanks! We are planning to move to aussie very soon!
(Jason Sharp, Perth, Australia - 28 January, 2009)

As long as one applicant is a permanent resident of Australia you can borrow up to 90% of the value of the purchase. You will need to cover the 10% deposit plus costs. Best of Luck
(28 January, 2009)

Hi, My fiance and myself are first home buyers and are applying for a joint home loan to purchase a unit for $475000. I earn $56000 pa and she earns $17000 pa. Together we are receiving gifts of $65000 towards a deposit and I have saved $9000 to put also towards the deposit. Unfortunately on a credit check my fiance discovered she had a telco default of $361 that she paid and finalized 2 years ago . What are our chances of getting a home loan, to potentially borrow $380000? And with which lenders would this be possible?
(Adrian, Sydney, Australia - 29 January, 2009)

Not a problem. Telco defaults under $500 and paid over 2 years are generally ignored. You should have no problems at all.
(29 January, 2009)

Hi. I am perm casual earning 45,000k a year, 6 years at same job. One year on work cover a year ago. I have 1 child and a bankrupt fiance on family payments. I am wondering what kind of no deposite devine home and land packages i can get, if any. Thanks in advance.
(Chris, Adelaide, Aus - 05 February, 2009)

Sorry I am not sure what Devine is offering but you would be able to apply for normal 100% loan as long as you were the only applicant. Best of Luck
(05 February, 2009)

Hi

I am a Temporary Resident on a spouse visa and was wondering if I could obtain a loan to purchase a vehicle?

Thanks
Vicky
(Vicky, Melbourne, Australia - 05 February, 2009)

We are now finding that this is difficult. Your best bet would be a car yard with their own finance.

Best of Luck
(05 February, 2009)

I am a single mother of 3 that is on a centrelink pension. I would love to buy a house for me and my boys in the country. I have 25,000 deposit and was wanting to know what the maximuim would be that i could borrow. The property that i was looking at is worth 180,000. This property has 2 dwellings and i have a friend that is interested in knowing wether the loan could be put in joint names. The other person has no deposit but is elligible for the FHOG. Would i be better of trying for the loan on my own or taking my friend up on their offer.
(Kim, Swan Hill, Australia - 06 February, 2009)

How much you can borrow depends on your income and number of other debts such as credit cards or personal loans. You can apply for the loan in 2 names however to obtain the FHOG both you would have to qualify for it. If you would like more info please email info@donationhomeloans.com.au
(06 February, 2009)

Hi,
My husband and I have recently moved to Adelaide on a 457 Visa that is valid for 4 years. We both work and our combined income is $125000. I would like to buy a new car, but was told by the dealership that we have to put down a 50% deposit on a $22000 vehicle? Is this correct, or is it possible to get a vehicle loan on a minimum deposit? Is this true or is there any way around this in order to buy without having to put down a big deposit?
Thanks for your help.
(Laetitia, Adelaide, Australia - 06 February, 2009)

It is very difficult to obtain a loan if you are not a perm. resident. So yes you may find that in order to obtain finance for a car you are required to provide more of a deposit than ususal. Best of Luck
(06 February, 2009)

Hi,
I have been discharged from bankruptcy for 6 months, I am a single mother of 2 earning 75k plus super (as a credit manager ironically) My bankrupcty was due to a separation and half his huge debts were in my name. Can you please advise if i would be able to borrow $300k using the 14k first homebuyers grant plus $6K in savings as a deposit. I have no debts, pay 1500 a month rent with 2300 a month spare, last year I saved and purchased a car 13K.
Kind Regards.
(Deborah, Sydney, Australia - 09 February, 2009)

You will find that most lenders will require a 20% deposit and 2years discharged bankrupt. Best of Luck
(09 February, 2009)

We're a discharged part 9 approximately 4 months, with 2 dependants under 5. Hubby works full time, I'm on parenting payments and family tax benefit.
We have no deposit, no equity nor anyone to offer equity, what are our chances of securing a loan? Thank you :)
(Dale, South Grafton, Australia - 09 February, 2009)

In the current market you will need a saved deposit given your past credit history and you would more luck after being discharged for at least 12 months. Best of Luck
(09 February, 2009)

Hi there,
we are temporary residence in australia on Student visa as my husband was doing PhD. We have applied for Permanent residency at August 2007 and hoping to get the PR soon.
I have about 4 years work experience in Australia and my spouse has started working recently (a month ago), our total income is 140K+, and we are wishing to get a home loan of about 720K to buy a 30 year old house (not a brand new). I'm wondering if we can get such a loan (95% of the price)?
Thanks,
(Mehrnoush, Glen Iris, Vic, Australia - 16 February, 2009)

To borrow 95% you will need to be Perm. Residents. You are best to save until such time as you have been granted PR status. A savings history of 3-6 months will be best for you.
Best of Luck
(16 February, 2009)

Can a credit company force you to go to court for an outstanding credit card debt with a bank and then the court force you to sell your home in New South Wales?in order to pay them the bill?
(maxene - 16 February, 2009)

I can not offer legal advice but there are options such as entering a payment arrangement with the credit card lender or refinancing a home loan to payout the credit card.
(16 February, 2009)

Hi
My partner and i are wanting to buy our first home he works fulltime for the last 4 years earns 36,000 i am on centrelink benfits ftb a&b which i get about 700.00 a week plus im a sub contractor which i get 300 per fornight for we have no credit cards or loans we do have four depends and we are paying 270.00 a week in rent we are entilled to fhbg we want to use it as a desopit can you tell what loan i hsould be looking at and who may give us a loan Thanks
(Amy, Cranbourne Vic, Australia - 17 February, 2009)

You haven't mentioned if you have a deposit saved so I am assuming not. You will need a 100% loan. Depending on the purchase price the FHOG may only cover the costs or you may have some left over for a deposit as well. Government charges such Stamp Duty vary with the purchase price of your property. To make it easier to obtain a loan a savings history of a least 3 months is an excellent start. Best Of Luck
(17 February, 2009)

My husband and me earn $2900 pfn after tax, have 2 kids, have a personal car loan of $14000, and together $26000 in credit card debts. Would we be able to obtain 100% home loan as we have no savings but are eligible for FHOG (would probably look into getting a new property for $300000 which would qualify for $24000 FHOG).
(Barbara, Sydney, Australia - 23 February, 2009)

You would need to decrease your credit card debt and have one applicant employed full-time perm. in the same job for a minimum 12 months. Lenders will view you more favourably if you have a savings history. A minimum 3 months.
(23 February, 2009)

Thank you for your quick response. I'm the same person as from previous question. Would you be able to tell me how much to save over 3 months - does it have to be substantial amount like few thousands e.g. $8000 or anything like $100-$200 weekly is enough? Also, are any lenders offering 100% home loans at the moment?
(Barbara, Sydney, Australia - 25 February, 2009)

Yes are still a few lenders offering 100% loans. Try and save the as much as you can each month and not redraw the funds.
(25 February, 2009)

I am a single mother of four and would like to know if there is any chance i could get a home loan?
(brenda lyons, cranbourne, australia - 26 February, 2009)

Yes you can. Of course borrowing will depend on a number of factors. Are you employed? Do you have deposit? Where is the property you are hoping to purchase? How much is the purchase? Do you have a clear credit history? If you would like more information please feel free to email info@donationhomeloans.com.au
Best of Luck
(26 February, 2009)

I have one small unpaid default which i am currently paying off and i also have 5 credit cards which most are in arrears. i wish to consolidate these debts and have one easey repayment. i work fulltime. i wish to do this by myself without my partner. there will be no property as an asset. i have tried numerous debt relief and banks but no one can help unless i have a co signer or asset for security. is there anyone who could help my situatio without me going to a loan shark....times are desperate...........i am getting no where.
(debbie, moree, australia - 26 February, 2009)

Sorry I do not know of anyone at the moment that could assist. I understand NAB are doing personal debt consolidation at the moment but once again they may require a co-signer.
Best of Luck
(26 February, 2009)

i am a single mum, 3 kids, 2, 9 and 13, get around $600 pw centrelink but will work cleaning toilets if necessary to get finance. I want around 30k to build a unit in the back yard (have 10k excess in my homeloan, payments are 200 f/n), used to be a draftsperson so know the ins and outs of dual occupancy. my home valued at 220k, 39 k left to pay, 2k on visa and no other debts. I would rent the unit to my ex husband as he is pretty much homeless and would be good to have him close for kids. would charge $100 pw rent and free when loan paid off, would 100 cover the loan payments. Also i want it unsecured not an equity loan. I have excellent credit and would not get loan until planning permit agreed and would have it built to lock up by builders.
cheers
(kristine, cranbourne, aus - 04 March, 2009)

You would find it difficult to service a loan increase of $30,000 on your current income. You would be best to have another source of income to support your application. Best of Luck
(04 March, 2009)

hi, i am a single mother with a 3 year old daughter... and only recently found out i will be expecting another towards the end of the year. i am looking to obtain a loan for rural land. is it possible to obtain such a loan having only my soel pension and family tax a & b as income?
(Lacy, coonabarabran, australia - 05 March, 2009)

Yes it is possible to buy rural land but you will need a large deposit. How much they will lend against the property is limited by the rural zoning, the postcode, size of the property and whether or not it has a house on it. Best of Luck.
(05 March, 2009)

We have a family owned business going into our 33rd year. We recently purchased an existing lawncare business and are in need of working capital. Credit is a problem. Do you handle business loans and if not do you know who could be of help to us?
(Lisa, Cincinnati, USA - 06 March, 2009)

Sorry we are unable to assist with finance outside of Australia. Best Of Luck
(06 March, 2009)

Hi, my husband and I have found out that we qualify for the FHOG and that we could borrow around $400,00. However we are currently living and working in WA and we want to use the FHOG to put towards our deposit to build a property in QLD. Do you think that any of the banks/lending institutions would allow this?
(Tina, Kalgoorlie, Australia - 10 March, 2009)

That is OK. However to qualify for the FHOG you must reside in the property for a continuous period of 6 months within the first 12 months.
(10 March, 2009)

i AM PRESENTLY EARNING 1000 A WEEK AND HAVE RELOCATED TO AUSTRALIA FOR ALMOST A YEAR BUT AM ON A 457 VISA. i REQUIRE A LOAN OF ABOUT 9000 AND WILLING TO PAY OFF 900 A MTH SO I CAN SETTLE MY CREDIT CARD WHICH WAS USED WHEN I WAS SETTLING IN. I HAVE A PROPERTY IN SINGAPORE AS WELL BUT LITTLE SAVINGS...HOW CAN I GO ABOUT GETTING A LOAN?
(ROBERT, WISHART, AUSTRALIA - 10 March, 2009)

Sorry but personal loans are very difficult for non permanent residents. You may have luck at a credit union or your local bank branch. Best of Luck
(10 March, 2009)

Myself and my partner are looking at buying our first home. I earn approx. $60000 per year ($1600f/n after tax) and she earns approx. $48000 per year ($1400f/n after tax). After paying rent ($1800 per month) and expenses we save approximately $2000 per month. We have $5000 in savings and $10000 in shares. We are also FHOG eligible. I have 1 cleared default for approximately $3000 (cleared in early 2008). We are looking to borrow approximately $375-400000 for a 2 bedroom apartment. Will my cleared default affect our ability to borrow?
(Kent, Brisbane, Australia - 11 March, 2009)

As you would be looking to borrow 100% for the purchase yes the default will affect you. 100% loans do require clear credit. You would be best to increase you savings (6 months history is best) so you have a greater deposit and hence do not require a 100% loan for the purchase. Best of Luck
(11 March, 2009)

my husband and i have bad credit ratings. all defaults paid out. we rent. we commence our business in september ahve a bit of cash flow problem. need working capital can we can a loan .and from whom.
(lori cosentino, Brisbane, australia - 12 March, 2009)

You haven't mentioned when the defaults occurred or when they were paid out and for how much. Do you have good Business Plan? Do you have land, buildings or equipment you can use as security? There are a lot of factors involved in business finance. If you would like more information please feel free to email info@donationhomeloans.com.au
Best of Luck
(12 March, 2009)

Hi, Iam currently an undischarged bankruptcy can i get a loan for a car, I work full time and get a part pension as well. My net earning are approx 580 per week. and who do i contact to help with the loan if I can get one.
(Jacqui, Sydney, Australia - 23 March, 2009)

You would be best to try a caryards finance department directly. You may find they are willing to accept the bankruptcy given a strong employment history. Banks will not accept your application until after you are discharged. Best Of Luck
(23 March, 2009)

Husband and I are both discharged bankrupts (almost 5 months now ).We have no other debts,credit cards or loans,however we would like to get a small personal loan (hubby is working f/t long term employment loan would be in his name).The loan is for upcoming financial needs such as car repair,white goods replacement and bond down payment.We would be seeking a loan of around $5000.We would also hope that prompt repayment of this would help to improve our credit rating.Is there any chance for us to access such a loan? Thanks
(Jan, perth, australia - 24 March, 2009)

Personal loans such as this are difficult at a bank. You may have a better chance with obtaining a credit card with a $5000 limit. Best of Luck
(24 March, 2009)

My parter and I have just moved to QLD and have found a house that has been moved to a block of land. It is very large and had heaps of potential we would like to know if you could help us with a solicitor that deals with rent to buy contracts.
(Vanessa Sanger, Dalby Queensland, australia - 26 March, 2009)

Sorry we don't know anyone that would be able to assist you. Best of Luck
(26 March, 2009)

Hello,
My partner and I are 2 years discharged from bankruptcy, we are able to get first home buyers and have a $10,000 deposit and we make $90,000 a year. We also have a co signer that is willing to go guarantor on home loan for us. We have a car loan that is for $20,000 into our second year out of five and we make more then the min payment. We have no other loans, or credit cards no defults. Do you know of someone that would be willing to lend to us? We would like to build a new home.
Thank you for your time.
(Kellie, Melbourne, Australia - 30 March, 2009)

You will find it difficult to obtain more than 80% of the value of the land and construction being 2 years discharged. Hence you would need a 20% deposit plus costs. Costs vary depending on the purchase price of the land.
Best of Luck
(30 March, 2009)

I declared bankruptcy in 2003 over a $17,000 debt from a bad business decision and it will be removed from my credit report in July 2010. I am eligible for a first home owners grant, I have no other debt, own $12,000 car, home contents about $50,000 saved $10,000 wanting to obtain a loan for a house/land package for around $300,000. This will be in a rural area (Officer Victoria) so grant should be around $29,000 and the builder is offering $10,000 cash back also. I have worked in the same industry for 18 years and just started a new role 3 months ago. Not on any probation. Earn $70,000 pear year. Any chance of me getting a loan for house and land?
(Karin, Berwick, Australia - 30 March, 2009)

You will need to be a discharged bankrupt for 2 years. Once this date is reached most lenders will allow you to borrow up to 80% of the value of the purchase or land and construction costs. Hence you will need to have a 20% deposit and costs which can be made up of the FHOG. Best of Luck
(30 March, 2009)

I have unpaid defaults, no deposit and have a very well paid permanent job. I have a person willing to go gaurantor for me as I will be housing 3 generations in the one home. Is there any place to go where they are willing to give you the chance to prove yourself as unforeseen circumstances allowed you to go into default. I am also eligible for the FHOG
(Kelly, Brisbane, Australia - 09 April, 2009)

You do have options. However you will need to make sure all defaults are paid before applying. Secondly the person going guarantor would need to be able to provide a property that can be used for 20% equity in your purchase meaning you are borrowing 80% against your purchase. Best Of Luck
(09 April, 2009)

I'm a single parent of 4 on a sole parent pension. My rent has increased to $300 a week. Would i b able to get a home loan with repayments of $200-$250 a week?
(rebecca, nsw, australia - 27 April, 2009)

Repayments on a $200,000 loan at 5% pa would be $1,074 per month. Hope that helps you out.
(27 April, 2009)

Hi, Can my husband submit his application to apply for PR in Australia without taking Ielts?
Thank you.
sa'diah
(sa'diah, singapore, singapore - 27 April, 2009)

I am not sure you would be best to check with the Australian Embassy. Best Of Luck
(27 April, 2009)

my husband and i turned 65 and was supposed to receive the old age pension, as we have been on the invalid pensions for many years in australia, when we got in touch with them they told us that we will be staying on the invalid pensions, as we have been on it for so long,does that mean that when the old age pensioners get a rise we will not, they told us we will be better of on the invalid pensions, and if things change they will be in touch. i just cant understand it, why we can not go on the age pensions. i am australian citzen could you please give me some advice about this question thanks
(yvonne dalli, malta - 20 May, 2009)

You would be best to ask them to give them a comparison on the rates you would recieve. Best of Luck.
(20 May, 2009)

im a single mother of 4 on centrelink benifits. would i be able to get a loan to help with bills and help get a good mark on my poor credit history
(kasey, redbank qld, australia - 03 June, 2009)

You will find it difficult to obtain a loan. However you may find a friendly local bank branch that will lend for personal use. Best of Luck
(03 June, 2009)

We are in a cooling off period (that we are now asking for an extension on) it has been with the banks now for 9 days, we have great jobs 100k but my husband had default listing (we didn't know it was there until appltying for finance last year) we paid it immediatly and that was 6 moth ago, we have been saving the same amount EVERY thursday for a very long time now, what i want to know is why on earth are the banks taking so long when we have given them our "contract of sale" and are we wasting our time?
(renae - 23 June, 2009)

You are not wasting your time if you want to purchase the home. The type of default and how much you want to borrow will determine the banks response. Hang in there it can happen. Best of Luck
(23 June, 2009)

We were declined, DEVASTATING!! we used a broker and were talking to the lady at the bank while it was going through, she was very sure we would get approved and wanted us to come back and see her if we were declined so that is the stage we are up to now, however i'm quite sure if the broker couldn't do it the result will be the same again. The bank said yes but the problem is with the LMI. What should be our next step?
(renae - 24 June, 2009)

Getting past the LMI can be very difficult. You may try a different lender that uses a different LMI or increase your contribution to the purchase making the deal more attractive to the LMI. Best of Luck
(24 June, 2009)

Due to circumstances beyond our control, my husband and I had no choice but to enter into a Part 9 agreement late last year. A very upsetting time but we made it through and our life and finances are back on track. Only problem is, our car is on its last legs and with two young dependent children, we need a more reliable car. Is there anyone that will help us obtain a loan? My husband works full-time and I work part-time, we've both been with our employers long-term. Many thanks.
(Ally, Vic,, Australia - 24 June, 2009)

Difficult to obtain finance but you may find a caryard that has it's own finance department that may be willing to offer finance. Best of Luck
(24 June, 2009)

I am 28 and currently looking to purchase a parcel of land in Tasmania to build on sevral years down the track. The property is for sale at an asking price of $45000 for a sizeable block (10-20 acres). I am currently looking for someone who would be willing to lend what would be argued as such a small amount (i was told by my bank that there wouldn't be enough equity in such a property for them). Ideally I would like to pay this loan off within 5 years, I have a personal loan with a remaining balance of $2100 (I expect to have this paid off before the end of July, possibly within the next week), I have two credit cards with a combined limit of $5500 (no outstanding balance on either of them) I my income for the last 2 financial years has been in the 90-110K bracket, and I have one paid default of $436 due to come off of my credit record in November (amount was paid shortly after listing). Unfortunately I do not have any deposit saved (although could produce a 10-15% deposit in a 60 cooling off period), are there any suitable loans that you folks could think of?
Thanks
(Adam, Kensington, Australia - 29 June, 2009)

Very difficult as the property I am assuming is zoned rural?? Also the loan amount is so small many lenders won't lend that small an amount. However there are possibilities but you would need a deposit saved.
(29 June, 2009)

I recieve money from centrelink in the form of family tax benefits and i was wanting to know can i claim that as income on a home loan or would i be classified as a dependant
(Fiona Jones - 29 June, 2009)

Family A & B payments will be classified as income by some lenders however not all will accept it as the only income source and it depends on how old the children are.
(29 June, 2009)

I am on student visa and I am going to buy a house do I get some grant and do I have to pay stamp duty how much
(vaneet, Blacktown, Australia - 02 July, 2009)

There are a number of qualifying questions you need to answer in order to qualify for the First Home Buyers Grant. If you are not an Australian Perm Resident or Citizen you are not eligible. To see an application you can visit: http://www.sro.vic.gov.au/sro/SROnav.nsf/LinkView/5DDB2062AAC1EFCECA2575D1002B2B1B62AE8FFFC6A03A7ECA2575D100049B29/$file/FHOG-Form-2.pdf

And yes there will stamp duty payable.

Best of Luck
(02 July, 2009)

I have a nab loan owing 197k my home is on 5 acres valued by real estate at 320k but bank valuer would not come at that figure.i have outstanding credit card debt of80k is there anyone either a company or private lender willing to talk to me .
max.
(max wadley, scottsdale, tasmania - 09 July, 2009)

Yes there may be another lender that will look at the refinance or a private lender. With a private lender of course the loan will be much shorter and the repayments higher. However any lender will require an acceptable registered valuer valuation. If you would like more information please email info@donationhomeloans.com.au
(09 July, 2009)

Hi,
I'm looking to buy a brand new house in which the First home buyers 24k grant applies. My partner is looking to buy with me but what we want to know is would he also receive the first home buyers 24k grant even though we're going in together to buy the 1 property?
(Charli, NSW, Australia - 09 July, 2009)

One house one grant. Not one grant for each person. Best of Luck
(09 July, 2009)

i am a working single mother of 1. i am desperatly wanting to buy a hoome i dont have a deposit as i am currently renting paying $1500 a month. i earn over $800 mostly my own income but part is centrelink payment. other than rent my only commitment is car payment of 320 a month. do you think there is anychance of me being approved for a home loan??
(JOANNE, croydon north, melboune, australia - 31 July, 2009)

You would find it very difficult in the current market to obtain a 100% home loan. The least you could have is a 3% deposit plus costs for the purchase. You would need to save this up. Best of luck
(31 July, 2009)

hi i was just wondering me and my husband has been married for 4 years and immagration has been taking there time to decide on my husbands status we have applyed for a loan to buy a house and land package.but now to apply for the first home buyers grant they want prof of permanent residency.is there anyway we can still apply for the loan and the grant.
(debbie okorom - 03 August, 2009)

As long as one of you is a PR you can apply for the FHOG. You may find the Bank will require you both to be PR, however there are some lenders that do allow a non-PR as secondary applicants on a loan. If you would like more information please feel free to email info@donationhomeloans.com.au
(03 August, 2009)

I am living in rented accomodation and working on a 457 visa. I want to borrow enough money to buy a car and a house. I am earning sufficient money I believe to cover the repayments but finding a lender might be my problem. I have been hee only 2 months and my company will sponsor me for PR after 2 years.
(James Stratford, Freemantle, Australia - 03 August, 2009)

Very difficult if you are the only applicant. You will find that for a car loan you would be best to try your local bank or credit union branch or the Motor Vehicle Seller may have in-house finance. You will find though that lenders currently require you to have PR status to purchase a house.
(03 August, 2009)

Hi,
I was wondering if its possible to get a joint home loan but only have one of the applicants names on the title of the house. Is this possible.
(Emily, Perth, Western Australia - 04 August, 2009)

You will find that most banks will want to understand the relationship between the applicants because why would someone want to pay for a loan if they have no stake in the property? In some cases a husband and wife will only want a particular property in one name but of course both be on the loan. Here the marriage means both applicants have a vested interest. So Yes it is possible but you will need to explain why.
(04 August, 2009)

I am a single mum of 2 children who works part time - as well as my wages and government subsidies i receive child support - is there any one who takes child support as income? Thanks for your help
(Jen, moore park, australia - 07 August, 2009)

Yes there are lenders that take Child Support but generally they will ask that it is court ordered and you will need evidence of that to confirm the amount being paid.
(07 August, 2009)

Thanks for ur earlier response. How would i find which lenders do accept Child Support payments as acceptable income? Thanks again
(jen, moore park beach, australia - 10 August, 2009)

We are able to send you a list of possible lenders
(10 August, 2009)

hi, Im a single Mum of 4 and i am looking to get a personal loan to pay my other debts which are apersonal loan valued at 5000 but with 1900 left to pay, HSBC valued at 2600 with 700 to pay and flexirent valued at 2300 with about 1700 to pay. i need to borrow another 5000 to pay these off and only recieving centre link benefits totalling 1430 plus child support of 140 a fortnight, i need to move house as my family has grown quite a bit in the past 6 and a half years but i need to get rid of all these debts and put them in to one, i got my loan with commonwealth bank without a job but i cant seem to get another to consolidate, is there any lenders out there who will as it is immportant for me and my family to be financial stable in order to move. i also use to have a mastercard which has now been paid out but i think i got a default for not paying on time last year due to a financial crisis in the begining of 2008. please help me.
(Christie, Koonawarra, Australia - 17 August, 2009)

Personal debt consolidation is very difficult. You best bet would be a local Credit Union rather than the big 4 banks. Best of Luck
(17 August, 2009)

Jst one question IS THERE ANYBODY WHO CAN GIVE ME GIVE AWAY 40000 DOLLER TO BUY MY FIRST HOME SO I CAN HAVE GOOD TIME WITH FAMILY
(vijay, ringwood, australia - 24 August, 2009)

Sorry not even the FHOG is $40,000. Best of Luck
(24 August, 2009)

I am currently on a 457 visa and I just want to know if there is any financioal institution that can provide me with a personal loan to consolidate my debts.

Cheers!


Roberto
(Roberto, North Willoughby, Australia - 10 September, 2009)

Very difficult. You may have luck with your local Credit Union Branch. Best of luck
(10 September, 2009)

Hi,
I am in a difficult sittuation and hoping you can give some advice.
My ex partner and I own a home in the country that my father and his wife rent from us.My father is 71 and on a disability pension.
I was in an extremely violent and controlling relationship with my ex,and he is still trying to bully me.
He wants me to either pay him out or he will sell the house and have my father removed.
My father only pays $120pw in rent and cant afford to move out and pay higher rent.
The house is valued at $220,000 and the outstanding loan is $78,000.

The problem is I am on a single parents pension with 2 children aged 5 & 6 I also receive carers payment for my son and I also receive $230 a week from child support.
I have defaults of about $6000 on my credit file due to my ex insisting on everything being in my name and then refusing to help pay any of the bills. He had control of finances.
With the equity in the home and the above problems, can you see anyway of me obtaining a loan to pay him out ?
Thanking you,
Kerryn
(kerryn baker, wangaratta. vic, australia - 23 September, 2009)

You might have a chance of refinancing the current loan but would not be able to raise more funds out of the home given the unpaid defaults on your credit file. Best of Luck.
(23 September, 2009)

I am retired my partner is still young , and still working. we would like to borrow roundabout $200000 for house in nsw. what change do you think we have ? we have $35000 cash. thank you.
(johannes winter, The Range, QLD australia - 07 October, 2009)

Really it will depend on how much your partner earns and if they can service the loan on that income. If you would like to do a pre-approval to ascertain how much you are able to borrow please email info@donationhomeloans.com.au

Best of Luck
(07 October, 2009)

Hi i just came to australia on a business visa,it is valid for 5 years and after 2 years i can apply PR, i am interested in buying a Supermarket and wanted to know if i can get a Business loan, if yes from where and how much.
(Rahul, Geelong, Australia - 12 October, 2009)

It will depend on what sort deposit you have and the type and location of the supermarket. If you would like more information please feel free to email info@donationhomeloans.com.au
(12 October, 2009)

Hi
I am a teacher earning in excess on $80k/year.

I don't own a house (used to) but have an excellent credit rating - have never defaulted on any loans.

My son and his partner live in Darwin and want to buy a property and I am keen to help them out.

I can provide them with a deposit. They qualify for FHOG. I am prepared to co-sign their home loan and help pay the mortgage.

If I cosign the loan can I keep my name off the property deeds? If I cosign and can keep my name off the property deeds/title would they still qualify for FHOG?

I realise I by not having my name on the preprty title/deeds I cannot claim the property as an investment and I am the one taking the greatest risk.

My son & his partner are both in full-time work and are financially responsible with an excellent credit rating.

Thanks
(Susie Bedford, Exmouth, Australia - 02 November, 2009)

It would be very difficult to have you on the loan and not on the title. You would be best to see if they qualify on their own so as to obtain the FHOG. If you are on the title they will not qualify for the grant.
(02 November, 2009)

Hi, i am 24 and a single mother of four young children. my sole income is a centerlink single parent pension. Due to the sale of our last rental property we have had to re - locate and are currently stopping with my grand - parents, I would love to be able to buy a home for me and my children so we can settle down and say goodbye to the rental cycle. What i would like to know is are their lenders that loan to someone like myself who receive only a single parent pension ???
(Tenille Jensen, Horsham, Australa - 16 November, 2009)

Yes there are lenders out there that will lend based on Centrelink payments alone, however you will require a good savings history and at least a 20% deposit plus costs. If you would like more info please feel free to email info@donationhomeloans.com.au
(16 November, 2009)

hi im 26 and my mrs is 24.. we have been searching for a house to rent.. but kept getting knocked back.. so we dont know what the go is..

now we are looking at buying our first home... i earn $30k+ a year as a casual and my mrs earns $30k+ a year full time... i have been with my work for 6 months.. but previously i was with him for 12 months at my work... before leaving for other job it didnt work out... so i went back to my previous work but as a casual again.. been there for six months

so i applyed for a anz home loan for $300.000 to buy a house for $249.000.. and what ever is left i can pay of my small debts.. i got pre approved for up to $400.000 with me and my mrs...

her brother which he is full time aswell.. and earning the same money as my finance cause they work at the same job.. he wants to move in and help pay for the house aswell so that him and his kids and gf have somewhere to live..

so my question is will i be able to get approved for the home loan i have no deposit

i applyed for anz 4 days ago and have heard nothing back yet
(raymond, windsor, australia - 19 November, 2009)

You will find it very hard without a deposit and genuine savings. What you need to do is setup an account that everyone can put money into on a regular basis and show a pattern of genuine savings for the next 3 months. You will need a deposit plus costs to purchase the property.

Best of Luck
(19 November, 2009)

I am currently in talks with my finance broker but seem to have stumbled on a problem. We have been approved $1.2m for the property we are interested in buing. We ahve $115k in the bank to cover 5% deposit and stamp duty. We were unaware of the mortgage insurance. So I am wondering if you can advise if you approve loans for property value =$1.2m + stamp duty. We can come up with the 10% deposit in order to bring the amount of mortgage insurnace down.

Please advise as a matter of urgency.

Kind Regards
Daniel
(Daniel Green, Hall, ACT, Australia - 07 December, 2009)

You will find that the best we are able to do is 90%. So you will be required to have a 10% deposit plus costs. The Mortgage Insurance can be capitalised on top of the loan. If you would like more information please feel free to email info@donationhomeloans.com.au Best of Luck
(07 December, 2009)

Hi. I have temp residency (sponsorship 457 visa), working for the same company for the past 2.5 years in full time employment. Able to apply for PR in sept. 2010. I am trying to obtain a 20,000 personal loan but am having trouble getting that amount due to my residency status with certain banks i have contacted. Any suggestions?
(Angela, Melbourne, Australia - 10 December, 2009)

Sorry we are currently haven't been able to source anyone that will do Personal Loans for non-residents. Best of Luck
(10 December, 2009)

I AM A DISCHARGED BANKRUPT THROUGH NO FAULT OF MY OWN(BUSINESS PARTNER COMMITTED FRAUD) AND HAD TO SELL BOTH OF MY HOUSES , I ALREADY HAVE A CAR LOAN I AM PAYING OFF (AFTER BANKRUPCY) AND HAVE ESTABLISHED A GOOD CREDIT RATING BUT CANNOT SAVE THE DEPOSIT NEEDED FOR A SMALL HOUSE , ANY SUGGESTIONS?
(TERRY, SYDNEY, AUSTRALIA - 27 January, 2010)

You will find that you will have to to have at least a 20% deposit plus costs to purchase. Also the majority of lenders will only consider a loan once you have been 2 years discharged.
Best of Luck
(27 January, 2010)

hi there i was a student in sydney the i got my temporary residency and have applied for permanent residency in 2009, just complied 1 year in jan. , now its been 4 year here and now i want to get in some business like some gas station i got some money with me and gonna have some business loan but the matter is that i m short of about 50k for that can i get a personl loan if yes then how...
(amit, rootyhill, australia - 11 February, 2010)

Large unsecured personal loans for Non PRs is difficult. Once you have PR it will be much easier to apply for a business loan. Best of Luck
(11 February, 2010)

I have recently been discharged bankrupt, have a job earning $40k plus super that I have had for five months now, passed probation etc and work 32 hours per week permanent.

No defaults since I filed, kept a visa debit card and my utilities, and have been at the same address for two years now.

What are my chances of getting a car loan? Ive been told I can try for the second chance type car loans, but unsure how much to apply for or what will be approved.

Im looking to make around $100 a week in repayments which I currently put away each week in a seperate account.

I filed bankruptcy myself over credit card debt when I left my job due to health problems. I had sold my car and home prior to any repossesions etc.

Im quite scared to put in an application in case it looks bad on my credit file, but my twenty year old car really needs replacing.

Thanks Kindly
(Jane, Victoria, Australia - 24 February, 2010)

Yes you can borrow for a car. You will find that the car dealership finance will have the best chance of obtaining finance for you. Best of Luck
(24 February, 2010)

I am a single parent and receive a centrelink pension.
Can I borrow a certain amount of money?
Is there an option to borrow money in this situation?

Thank-you
Regards
Diane
(Diane, Sydney/Haberfield, Australia - 24 February, 2010)

Yes you can borrow funds as long as you can service the loan based on your income. If you are purchasing a home you will require at least a 20% deposit plus costs.
(24 February, 2010)

I NEED TO REFINACE MY RESIDENSE
vALUE$550,000.00 NEED 52000.00 AT 5% FOR 10 YEARS.
(ROBERT DAILEY, LAKE OSWEGO, USA - 04 March, 2010)

Sorry we are unable to assist with loans outside of Australia. Best of Luck
(04 March, 2010)

i am a on a 4yr 457 visa in australia, and I need a personal loan for $10, 000 over 1 year. earning +$160K per annum
(john m, perth, australia - 15 March, 2010)

Your best bet will be either BankWest in Perth or a local Building Society branch. Best of Luck and enjoy your stay.
(15 March, 2010)

i bought a home with a man and we are no longer together and i need to refinance i have llow income and poor credit but i am honest bill payer he was the problem i have 2 children and i would love to keep our home and my vehicle and still afford to have the necesities can you help me i've tried everyone
(kim ashlock, attica, usa - 14 April, 2010)

Sorry Kim we are unable to lend funds in the USA. We are Australian based only. I hope things work out for you. Best of Luck
(14 April, 2010)

how do lending organisations view temporary (but ongoing) employment when reviewing home loan applications? My husband works full time in a permanent job and I have an ongoing temporary teaching position. We earn together approximately $6000 per month net.
(janelle forrest, ashfield, nsw - 21 April, 2010)

Most lenders will ask for between 1-2years of proven income history in the same industry and take the average of that income over that period. If this is the case you should have a good case to apply for a home loan.
(21 April, 2010)

I am going to sell my house in 3years it is worth $500000 I own it outright. I am looking at a block of land it is worth $135000. I thinking about useing the equity in my home to pay for it. Should I wait till I sell my house in 3years or buy now.When my house is sold I will build on the land. I intead to downsize and pick up $40000 to Put in my Super. As I like the area where the block is for sale. I have a part -time job and earn approx $30000 per year and have no debts
(John, Teesdale, Australia - 01 June, 2010)

If you want the land and have the ability to buy it now there is no harm in planning for the future. Also the block may not be available in 3 years time. If you would like more information about bowworing to buy please feel free to email info@donationhomeloans.com.au. Best of Luck
(01 June, 2010)

I am not a permenat resident of australia would I still be eligable for a personal or debt consolidation loan?
(erika - 07 July, 2010)

Very difficult for non-residents. You may have some luck with your local Credit Union. Best of Luck
(07 July, 2010)

I am looking to be a guarantor for a nonresident student who needs $10000 for uni fees. Where should I start looking? CBA and NAB both reject the idea. Thanks
(mick, melbourne, australia - 21 July, 2010)

Very difficult if you are trying to do as a personal loan. Your best bet might be to try your local Credit Union. Best of Luck
(21 July, 2010)

as a single parent on the pension can i lend a small personal loan
(Amanda, port maquarie, aust - 22 July, 2010)

It will depend on your income (how much the pension is) but your local bank branch would be able to assist you. Best Of Luck!
(22 July, 2010)

My brother and I bought a house together in 2009 since then we have had a fall out and no longer speak. I live in the house with my 2 children and am on a single parent pension is there any way i can buy him out as i would like to keep my home. Thankyou
(Rowena Huggins, Wee Waa,NSW, Australia - 28 July, 2010)

Your borrowing capacity will depend on your income. If you would like an idea of how much you can borrow please feel free to email us at info@donationhomeloans.com.au and we will assist you.
(28 July, 2010)





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Denise and I were tentative about the whole borrow/invest journey. We were sceptical about whether it worked and not very willing to trust people. ..

P & D Buckley