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Viewing 7 posts - 1 through 7 (of 7 total)
  • Profile photo of Ichiban33Ichiban33
    Member
    @ichiban33
    Join Date: 2012
    Post Count: 8

    Hi All,

    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?

    Regards

    D

    Profile photo of Scott No MatesScott No Mates
    Participant
    @scott-no-mates
    Join Date: 2005
    Post 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.

    Profile photo of TheFinanceShopTheFinanceShop
    Participant
    @thefinanceshop
    Join Date: 2012
    Post Count: 1,271

    Hi D,

    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. 

    Regards

    Shahin

    TheFinanceShop | Elite Property Finance
    http://www.elitepropertyfinance.com
    Email Me | Phone Me

    Residential and Commercial Brokerage

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    A couple of lenders will do 85% at varying interest rates and charges.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me

    100% Investment Finance now available on selected properties. Email us for further information.

    Profile photo of Ichiban33Ichiban33
    Member
    @ichiban33
    Join Date: 2012
    Post Count: 8

    Thanks Shahin – I sent an email to you this morning did you get it?

    Profile photo of TheFinanceShopTheFinanceShop
    Participant
    @thefinanceshop
    Join Date: 2012
    Post Count: 1,271

    Hi Dale,

    Apologies for the delay in responding but this time of the year is pure chaos. I have just responded to your questions. 

    Regards

    Shahin

    TheFinanceShop | Elite Property Finance
    http://www.elitepropertyfinance.com
    Email Me | Phone Me

    Residential and Commercial Brokerage

    Profile photo of HomeLoanExpertsHomeLoanExperts
    Participant
    @homeloanexperts
    Join Date: 2007
    Post 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

Viewing 7 posts - 1 through 7 (of 7 total)

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