This week's loan scenario is a difficult one. Do you have what it takes to help out?
Have you got the know-how to fit even the toughest loans? Each week MPA brings you one stumper of a loan scenario, posted by our readers, and asks you for the answers.
Today a client in Queensland is looking for a loan with an LVR of 90% (+LMI) for a $220,000 property.
The loan is for an owner occupied property to be paid down within 10-12 years.
The applicants are aged 65 and 63, and their income includes Department of Veterans' Affairs Pensions only.
There is no other superannuation or investments.
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