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Viewing 6 posts - 1 through 6 (of 6 total)
  • Profile photo of LeilaLeila
    Member
    @leila
    Join Date: 2004
    Post Count: 63
    November 7, 2004 - 11:11 am

    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!

    Profile photo of oziozi
    Member
    @ozi
    Join Date: 2004
    Post Count: 262
    November 7, 2004 - 11:31 pm

    Hi Leila,

    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…

    Regards,
    Ozi

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    November 8, 2004 - 2:08 am

    I have done a few loans for hybrid trusts.

    Terryw
    Discover Home Loans
    Mortgage Broker
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of Mobile MortgageMobile Mortgage
    Member
    @mobile-mortgage
    Join Date: 2003
    Post Count: 913
    November 8, 2004 - 5:34 am

    Hi Leila,
    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.

    Regards
    Steven
    Mortgage Broker

    [email protected]
    http://www.mobilemortgagemarket.com.au
    Ph:0402483216
    Ph:1800 820 500
    VICTORIA

    PLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.

    Profile photo of wilandelwilandel
    Member
    @wilandel
    Join Date: 2003
    Post Count: 761
    November 8, 2004 - 12:57 pm

    Hi Leila,

    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…

    http://www.prosolution.com.au

    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…

    Regards,

    Del

    Profile photo of LeilaLeila
    Member
    @leila
    Join Date: 2004
    Post Count: 63
    November 11, 2004 - 8:27 am

    Hi guys,
    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]

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