Business | Genuine savings can be a challenge

By Olympia Andronicos
November 17 2019 - 1:23pm
ALTERNATIVES: While most lenders have clear definitions around what constitutes genuine savings, there are options which an experienced finance broker can explore.
ALTERNATIVES: While most lenders have clear definitions around what constitutes genuine savings, there are options which an experienced finance broker can explore.

If you apply for a home loan, particularly if the loan is for more than 80 per cent of a property's value, you'll probably have to prove to lenders you have a satisfactory amount of savings, demonstrating your ability to funnel a portion of your income into repayments.

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