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The bank will only allow 35% of the gross income to be paid back fortnightly over the 25 year loan on the house.
35/100 x 3500 = $1225
$1225 x 26 fortnights x 25 years = $796250 mortgage
Conclusion
The ideal property for the client’s perusal to start building on would be option 1 as its closer to town, more block amenities such as power, water, sewerage, phone and bitumen road frontage...
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The bank will only allow 35% of the gross income to be paid back fortnightly over the 25 year loan on the house.
35/100 x 3500 = $1225
$1225 x 26 fortnights x 25 years = $796250 mortgage
Conclusion
The ideal property for the client’s perusal to start building on would be option 1 as its closer to town, more block amenities such as power, water, sewerage, phone and bitumen road frontage...
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