- LeilaMember@leilaJoin Date: 2004Post Count: 63
I am about to seek finance for my first investment property to be purchased on behalf of a trust.
A friend who has some experience with borrowing has indicated that some mortgage brokers and financiers don’t know much about trusts (hybrid trust in my case) and this slows down the process.
I’m looking for personal recommendations of mortgage brokers in Vic who are experienced in sourcing finance where trusts are involved.
Any recommendations or advice you may have would be greatly appreciated.
Thanks!oziMember@oziJoin Date: 2004Post Count: 262
There are several Mortgage Brokers on the forum – I’d search through the forums, I’m sure you’ll find a few.
I had a chat to Steven (username ‘Mobile Mortgage’ on the forum) on the weekend. He seems very knowledgable and was quite helpful. He mentioned ‘trusts’ and said it wasn’t a problem for finance. He is in Victoria.
I’d speak to a few different ones though, as different people have different opinions, expertise, etc…
OziTerrywParticipant@terrywJoin Date: 2001Post Count: 16,213Mobile MortgageMember@mobile-mortgageJoin Date: 2003Post Count: 913
These days the majority of lending Institutions dont have a problem with Trusts, However there are certain lenders who do not provide no doc/low doc finance to Trusts.
PLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.wilandelMember@wilandelJoin Date: 2003Post Count: 761
We were in your boat a year or two ago, not knowing which broker to turn to… For us it was a frustrating battle, but in the end it worked out !!!
I can say without reservation that Stuart Weymss at Prosolution is a very professional broker, (and Chartered Accountant) and he is also a nice guy… He has saved our bacon a couple of times…
He is based in Melbourne. He was also a finalist in “Mortgage Broker of the Year” last year….[biggrin] He also helps out many on this forum…
DelLeilaMember@leilaJoin Date: 2004Post Count: 63
Thanks for all the suggestions. I really appreciate you taking the time to assist, and will research your suggested brokers/ leads. Today has been a really terrible day for my husband and I (issues outside of investing), and I’ve been feeling very disillusioned. Your willingness to help a complete stranger reminded me of the silver lining of life …
Thanks again [biggrin]