Banks are tightening their lending criteria, and home loans are getting harder to get. One must remember that if you borrow more than 80% of the value of the property, most loans will need to be Mortgage insured. It is at this stage that loan applications are falling over. The Mortgage Insurers are really watching who they insure after no doubt taking a big hit in the recent GFC.
Have you recently lodged an Application for a home loan only to be rejected by the Bank for reasons such as - not enough savings or deposit, bad notations on your credit file, self employed or irregular contract work, casual employment, not in your job long enough. These are all reasons that make it hard to get a Home Loan in today's market.
Don't give up! There are other ways to buy property without even walking into a Bank. The team at Carver Lawyers have designed a Home Ownership Program ideal for people who can't get a bank loan.
Over the years I have found that the standard real estate transaction and buying process does not work for everybody and there are other ways to buy property. Don't be locked out of the property market just because you cant get a home loan.
The dream of home ownership is possible using other strategies rarely know by others in the industry. The standard buying process needs to change to make home ownership viable in one way or form to many not just a few.
There are many people that don't comply with banking guidelines including the self employed, contract workers, casual employees and cash earners. The Carver Lawyers can help people that just can't seem to get a Bank Loan.
If you would like more information on the Home ownership Program designed by Carver Lawyers, call (02) 9773 4550 or www.ozihome.com
