Finance on a block of 6 units on one title with residentail rates

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odedkor
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@odedkor
Join Date: 2012
Post Count: 3
March 29, 2012 - 4:13 pm
Finding quality lenders is really tough
odedkor
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@odedkor
Join Date: 2012
Post Count: 3
March 29, 2012 - 4:14 pm
This is great
InvestorMick
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@investormick
Join Date: 2008
Post Count: 55
March 29, 2012 - 8:38 pm
Hi Tito, I would prefer to PM any more to say about BW. PM if you are okay for that.
Tracey B
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@tracey-b
Join Date: 2009
Post Count: 158
April 12, 2012 - 4:03 am
The market seems to have changed from 12 months ago …… NAB has just offered to finance 7 of ours on residential terms. These are at the same location but already on separate strata titles. We couldn't find anyone who would do more than 4 when we purchased 12 months ago.
Surprise, surprise, ANZ is now re-thinking whether they have to have them as Commercial….amazing what they can do when they think you're going to walk.
Richard Taylor
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@qlds007
Join Date: 2003
Post Count: 12,024
April 12, 2012 - 4:27 am
Tracey oh i agree
I have a block of 18 here in Brisbane that i purchased some years ago (All in 1 line on single Strata)
We do all of our development finance thru Anz and when they knew i was buying to keep these they said we will have to do those at Commercial rates and terms. Thats easy i said NAB National Credit want out development business and they have said they will do them residentially.
Amazing how quickly Anz changed their tune.
Not that we owe that much on them these days (15% lvr post reno) but i can put up with 6.43% variable on a $375 Breakfee Annual fee.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender