I'm a little confused about NIB's advance limits on their LTV offering, on their site one of the conditions states
Code:
Borrowing is subject to 40% of net income being available to meet other capital and interest loan repayments, and is subject to a 2% interest sensitivity test.
Does this mean that your repayments (if you get the loan) must be no more than 60% of your Net Income?
I'm a little confused about NIB's advance limits on their LTV offering, on their site one of the conditions states
Code:
Borrowing is subject to 40% of net income being available to meet other capital and interest loan repayments, and is subject to a 2% interest sensitivity test.
Does this mean that your repayments (if you get the loan) must be no more than 60% of your Net Income?