Читать книгу The Female Investor - Kate Hill - Страница 37

Anyone who has been investing for as long as we both have can tell a story about the time a bank was going to lend them $1.7 million when they only asked for $700 000, or the time that they wouldn't give them anything at all, even though their numbers were fine (thanks, COVID‐19 pandemic). The reality of the situation is that the lending environment can, and does, turn on a dime because of a bunch of factors too lengthy to list here.

One month you may qualify for a loan and the next you may not, because of levers being pulled at the top of the food chain to speed up, or slow down, lending. This can depend on what's happening in the economy, or whether local property markets are deemed too hot to handle (like Sydney back in 2017).

Loan pre‐approvals generally only have a limited shelf life because of this relative fluidity of the lending environment, as well as your own personal financial circumstances.

Borrowing capacity is the amount of funds that a lender is prepared to offer you to finance a property, depending on your income, expenses, deposit size and a bunch of other variables best left to the finance experts to explain to you in more detail.

So we recommend meeting with a mortgage broker at the start of your journey — you can then understand how much your likely borrowing capacity will be if you were to purchase sooner rather than later.

A mortgage broker can also help you determine the size of deposit you will likely need to qualify for finance in a particular property price bracket.