Your borrowing capacity depends on your income, financial situation (any existing loans/ commitments), and the property used as security. VMG provides
loan calculators to assist in evaluating your borrowing capacity. The maximum loan amount is up to 80% of the property’s value (Loan-to-Value Ratio of 80%).
What are VMG’s interest rates?
VMG offers a range of interest rates tailored to individual circumstances. Each loan application is assessed by our team to determine the most appropriate rate. Factors influencing the final rate include:
Type of residential property used as security (owner occupied or
investment)
Source of income
Credit history
Loan-to-Value Ratio (LVR)
I have previous credit issues. Can VMG still help me?
Yes. VMG Specialises in flexible lending solutions and assesses loan applications with a forward-looking approach. We consider:
Paid and unpaid defaults
Late payments and arrears
Discharged bankrupts
Our goal is to help clients overcome past financial challenges and achieve their future financial objectives.
Does VMG allow unlimited cash-out and debt consolidation?
Yes. VMG permits refinancing of unlimited debts, including the payout of ATO debts, facilitating comprehensive debt consolidation.
Does VMG consider negative gearing in serviceability calculations?
Yes. We allow an add-back for interest charged on investment property loans, provided rental income from the property is included (typically add-back is
capped at 30%, subject to flexibility).
What financial information is required for self-employed borrowers?
VMG offers flexible documentation options:
Full Documentation: Income Tax Returns (ITRs), one year of financial statements, up-to-date tax portals, and three months of bank statements.
Alternative Documentation: Options include:
Customer declaration and accountant’s letter
Six months of Business Activity Statements (BAS)
Six months of business or personal bank statements
Flexible Options: Provide available documentation, and we will work with you to assess your application.
Will my company liabilities affect my personal borrowing capacity?
No. When assessing personal borrowing capacity, VMG excludes company debts from the assessment.
Are company debts considered in serviceability assessments?
No. Generally, VMG does not include company debt repayments when evaluating personal serviceability for home loans.
Who is VMG?
Victorian Mortgage Group is a family-owned mortgage lender with over 75 years of experience. We specialize in providing flexible home loan solutions, assisting borrowers in securing their financial future.
