How much stability do you need to take on a mortgage?

[pixel]

if you have a blog or a website with a "Links" section, please consider adding a link to ASF,

Anyway, I don't want to take this thread off topic. Just wanted to thank you for your support, and let others know how they can help.

Done - actually, it's been there for years

 

[pixel]

Put up a donation fund

Let them prove their claims.

 

[Joe Blow]

Put up a donation fund

It's something I'm seriously considering. I know HC has done it and it may end up being necessary. ASF is subject to a lot of legal threats due to posted content and lawyers and barristers don't come cheap. It would be easy for me to simply remove all content that is complained about, and that would solve all of the legal problems, but it would compromise ASF's integrity and that's something I don't take lightly. I stand firm on the right of ASF members to post lawful content, even in the face of legal threats and intimidation.

Done - actually, it's been there for years

Many thanks Pixel! Much appreciated.

Let them prove their claims.

Well, this is what they have to do. The problem is the legal process is drawn out and complicated: claims, applications, defences, amended claims, court hearings, affidavits; the list goes on. Before you know it, you've spent tens of thousands of dollars just to defend yourself. Sadly, the process favours those with deeper pockets.

 

[RandR]

To the original poster...

3 years is a long time these days in a job.

But the more important question, what is the purpose for you taking on a mortgage? PPOR? IP?

We took our first mortgage out a couple of years ago. I was in a volatile industry as far as employment, my partner had just moved to a new job and was still in probation. If you plan well and purchase well within your means it will go a long way to making you feel more comfortable. For us, we had a 20% deposit and the repayments (P+I) less than 25% of our pay. We did that deliberately to ensure that if 1 of us did lose our income it wouldn't be a problem.

If it is an IP, are you looking for something neutral to positively geared straight away or happy to negative gear for the first couple of years?

 

[mabellemurphy]

Yes i agree with you. The mortgage can pay with the tenants.