There are many different types of loans available and most people can obtain a loan.
There are loans where you do not need to show any financials. There are loans where if you have 10% and costs you do not need to show savings and can obtain a normal competitive bank loan of 90% of the property value.

The secret is experience. Knowing how to put the loan together and knowing what the different lending institutes guide lines and procedures are; what they accept as income; what employment is acceptable etc?

Every time you apply for a loan they will normally stamp the credit register which records all transactions of people applying for credit.

It is not good to apply with many funders for the same loan due to this and some funders demerit or will not accept an application for 95% loans if 3 or more inquiries are made in the same month.

Therefore it is worth talking to a number of people or making sure you have all the information necessary prior to placing a loan application in.

Sherlock Home Loans have a number of different lending institutes, banks and
non-banks on their panel and are a great place to obtain the right information.

If you would like more information on this, contact us on 1300 88 00 18.