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Loz | 09 Nov 2013, 12:18 PM Agree 0
We currently have a contract on a block of land in Queensland, we have the savings to cover a 10% deposit and all fees etc and i earn a good $100k+ income. We assumed the finance would be no issue however our mortgage advisor is telling me that the bank they are going to use (Commbank)may see the loan as unservicable due to the fact we are still renting and will need to pay out on the land also until we are in a position to build. Our plan is to subdivide the block (x4)and build a PPoR, renting the further properties out. We know we can afford it even though we may have to cut back for a while, can anyone reccommend an investment focussed broker who may be able to assist? We have put a lot into getting the right block and already have a surveyor and builder quoting for works. Thanks in Advance, Loz
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