- Ichiban33Member@ichiban33Join Date: 2012Post Count: 8
I am looking to purchase a property that is a company title but my bank will only lend me 80% of the value of the property. Does anyone know what the maximum is?
DScott No MatesParticipant@scott-no-matesJoin Date: 2005Post Count: 3,856
Transfer of ownership is at the discretion of the other company directors. So if the other directors don’t like you, a prospective purchaser or tenant, they won’t grant consent to sell or lease.
They have more power than Body Corporate.TheFinanceShopParticipant@thefinanceshopJoin Date: 2012Post Count: 1,271
If you know how company titles works then that's great but if you don't please ask away.
To answer your question re the finance side of things, due to the risk (resale) associated with company titles many lenders will go up to 80% as the maximum LVR however St George will do 85% on company titles.
ShahinRichard TaylorParticipant@qlds007Join Date: 2003Post Count: 12,024
A couple of lenders will do 85% at varying interest rates and charges.
Yours in FinanceIchiban33Member@ichiban33Join Date: 2012Post Count: 8
Thanks Shahin – I sent an email to you this morning did you get it?TheFinanceShopParticipant@thefinanceshopJoin Date: 2012Post Count: 1,271HomeLoanExpertsParticipant@homeloanexpertsJoin Date: 2007Post Count: 43
A couple of lenders can go up to 95% for company title however you must meet very strict criteria. Clear credit, 5% genuine savings minimum, 2 yrs + in job, must be a purchase, must be in a capital city and the valuer must like the property that you are buying. Otherwise 85% is the max