Applicants were looking to rerual residential property in the hunter valley. They had incurred a credit card default of $24,000 due to their child being injured resulting in large medical bills. Additionally they required cash out to upgrade their kitchen. The Applicants confirmed the non-income producing nature of the property and advised it was on owner occupied home with a large shed housing chickens. Both applicants are PAYG and employed locally.
Solution: Loan was approved under our residential-Rural Full Doc product at 75% LVR with default paid as part off settlement proceeds.
