When it comes to assessing your borrowing capacity, lenders will look at a number of factors including current/potential rental income and existing loans and associated liabilities. Through our extensive network, Launch Finance brokers have access to niche lenders that will make special considerations regarding these factors in order to help you maximise your borrowing capacity.
With this in mind, Launch Finance has access to:
- Lenders that allow 100% of rental income from residential properties to be taken into account as income, rather than the standard 80% of rental income that most banks allow. This offer is available on Loan-Value-Ratios of up to 80% and loan amounts up to $1.25M.
- Lenders that use actual repayments when assessing liabilities for debts with other banks, including interest only, without having to provide bank statements. Most lenders will use a higher repayment equivalent to calculate borrowing capacity.
- Lenders who will assess rental income and associated liabilities with other parties (ie mum, dad, partner in other properties) at actual share, rather than the standard 100% that most banks assess liabilities at. For example if you are a joint debtor on a current loan, our lenders can use only the true 50% share of the loan when assessing your current liability and ability to pay future loans, rather than 100% like most banks.
All of the above concessions that our niche lenders can provide will undoubtedly increase your borrowing capacity, so contact us today to chat to one of our friendly brokers.