All Topics / Hotch Potch / IN REGARDS TO FINANCE

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  • Profile photo of dagsthedudedagsthedude
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    @dagsthedude
    Join Date: 2003
    Post Count: 26
    October 9, 2003 - 7:41 am

    In regards to financing an IP, do the banks/lenders look more favourably towards leding for a reno or the wraps scenario?

    Are there certain lenders that are happy to lend more-so for a reno IP than a IP that is to be wrapped?

    JUst another thought on my mind.

    dags nobody
    the hippie investor

    Profile photo of picja1picja1
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    @picja1
    Join Date: 2003
    Post Count: 144
    October 9, 2003 - 10:29 am

    Well, to start with, there is only a couple of lenders who accept wrap investors, so if you ask all the lenders about wrap investing, in regards to them lending you funds for it, they will generally show you the door. If they don’t then they probably, don’t diclose to LMI. But if they don’t have LMI and accept, well your right.

    So in regards to your question, I’m sure you will find more lenders being friendly towards reno.

    Profile photo of dagsthedudedagsthedude
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    @dagsthedude
    Join Date: 2003
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    October 10, 2003 - 12:16 pm

    thanks[:D]

    dags nobody
    the hippie investor

    Profile photo of bribiebribie
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    @bribie
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    Post Count: 67
    October 11, 2003 - 4:07 am

    Wouldn’t it depend on the particular situation and the amount of equity – LVR etc? If a reno was to add an additional bedroom or garage etc that may very well change the valuation and the rental prospects maybe more than just doing up the kichen and bathroom.

    bribie

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