Increase Mortgage Borrowing Capacity

Written on the 4 April 2011 by G. Dean McKinnon

The value of obtaining comprehensive financial advice before commencing any strategy to achieve your objectives may be the key factor in ensuring you obtain those objectives.

We recently completed a mortgage finance assessment for a client wanting to purchase their first home, but their existing debts limited their borrowing capacity to a maximum of $162,000, which was well short of the money they needed to purchase the house they wanted.

We were able to develop a strategy that enabled them to increase their maximum borrowing from $162,000 to $266,000, with the same amount of deposit and a significant decrease in the interest they were paying on their existing debts.

By increasing their borrowing capacity the clients were able to now afford the home they always wanted.

If your thinking about obtaining a home loan, or if your existing home loan does not suit your current circumstances, please Contact us for a free assessment.

Author:G. Dean McKinnon
McKinnon Financial Planning Pty Ltd ABN 74 155 233 784 Australian Financial Services Licence 417488 | McKinnon Financial Services Pty Ltd ABN 82 056 817 648 Australian Credit Licence 392173 | General Advice Warning: Information contained in the pages of this website is of a general nature only and has not taken into account your particular circumstances. You should consider whether any strategies and or investments mentioned in this website are suitable for you and seek personal advice from a licenced investment adviser before making any investment decision.
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