In particular we focus on getting the loan structure right the first time, choosing which lenders to use in the right order (yes this is important) and finally getting our clients the best deal possible.
The lender will take rent into account if you purchase a property but don’t intend to live it in, as it will be an ongoing expense.
But if you’re purchasing a property to live in, once the loan settles you will move into it, so they don’t need to factor your rent payments in anymore as an ongoing expense.
Its essential to provide accurate information to your broker and lender during the mortgage application process including your intent to live or not live in the property as this will affect how they evaluate your financial situation and determine your eligibility for the loan.
