240 - Audience Question: We have heaps of equity but bank wont lend to us because we don't have the ability to service the loan. with Louise Lucas
She Renovates
English - April 18, 2024 07:21 - 37 minutes - 34.3 MB - ★★★★★ - 2 ratingsArts Business home improvement bootcamp design profit reno renovating style tips training Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Tune in to our latest podcast episode where we dive into the world of finance and property with our legendary Wonder Woman broker, Louise.
Join us as we unravel the mystery behind getting finance when you're approaching retirement age or unemployed.
Discover insider secrets, including how to present yourself to lenders, leveraging reverse mortgages, and innovative strategies like renovating your way out of a mortgage.
Plus, uncover the hidden potential of credit cards and charge cards for financing your next project.
Don't let age or financial constraints hold you back—listen now!
“The initial problem is they have to justify their lending capacity to ASIC and APRA. If you're giving them a 30 year loan, do they have the capacity to repay that loan? And if they don't, what are you doing about it? And so we have to find a way to present your story to the lender in a way that makes it easy for them to say yes, because they have an excuse to give you the money and they want to lend to you, don't be mistaken. But some lenders are much easier than others in terms of age related. Policy but there are lots of things you can do to make yourself more appealing."
-Louise Lucas
EPISODE HIGHLIGHTS:
00:00 Introduction
02:47 Understanding Lender Concerns
04:55 Challenge Age Stereotypes
05:50 Investment Opportunities Beyond Age
06:54 Renovating to Erase Mortgage
07:51 Securing Financing Strategies
09:58 Unlocking Equity in Retirement
12:13 The Enriching Journey of Renovation
15:13 Interest and Offsetting
16:23 Costs of Borrowing
18:18 Renovation as Business
20:12 Persistence Pays Off
24:16 Alternative Funding Sources
28:21 The Broker Advantage
30:02 Access to Diverse Lenders
31:28 Ongoing Loan Review
32:40 Avoiding "Lazy Tax
34:57 Empowering Women in Property
Resources
Property Education
https://propertyed.com.au/
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The School Of Renovating
https://www.theschoolofrenovating.com
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