Hi team, can a mortgage broker see your holdings or just your value? silly question surely its just the value no ? Thanks
Josue Houston: They cannot see either, you provide a statement of the value of your portfolio, and at the time of preapproval give a letter to the lender stating you will liquidate required funds. At least was the case for me…
Liam Hernandez: thanks mate
Beau Hubbard: Josue Houston: does the broker factor in CGT that might be due on said portfolio into their assessment? Regards
Josue Houston: Mine did not that I know of, but bare in mind this is only at the preapproval stage. Once it comes time to actually get the loan it may be factored in but I doubt it. A tax bill (if not getting a return) is nothing until EOFY which is when CGT is calculated.You could sell everything today and show the full amount in the bank without out it been factored in, also they do not know how long you have held said shares.
Josue Houston: Beau Hubbard:
Beau Hubbard: Josue Houston: my thoughts also. Cheers