I want to buy another property, (provincial NZ) through my LTC, with a new bank. It will be cashflow positive. Looking at spending $200-250K.
However, I would want the loan to stand on its own merits: I wouldn't want the bank to look too closely at my income/commitments as my income fluctuates. It's not your week-in, week-out, 9-5 salary/wages, so a big chunk of it isn't guaranteed and the other portion is only guaranteed for the next ten months (when a new contract will be signed.) Current earnings also only date back a month or so.
So are there any lenders out there who will just look at the loan as self-servicing without examining guarantors' income?
However, I would want the loan to stand on its own merits: I wouldn't want the bank to look too closely at my income/commitments as my income fluctuates. It's not your week-in, week-out, 9-5 salary/wages, so a big chunk of it isn't guaranteed and the other portion is only guaranteed for the next ten months (when a new contract will be signed.) Current earnings also only date back a month or so.
So are there any lenders out there who will just look at the loan as self-servicing without examining guarantors' income?
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