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  • Profile photo of kevsgnkevsgn
    Participant
    @kevsgn
    Join Date: 2013
    Post Count: 15

    Anyone know any financial institutions allow us properties pledging borrowing with in us or internationally? The properties are fully paid without loan

    Want the application to be done without going there

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,018

    Hi Kev

    Would you like to spell that out in English and we can assist.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
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    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of Colin RiceColin Rice
    Participant
    @fms
    Join Date: 2011
    Post Count: 338

    Rephrase please. I think I know what you are saying but better to clarify a little, or a lot more. 

    Colin Rice | CDR Finance
    http://cdrfinance.com.au/
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    Perth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]

    Profile photo of kevsgnkevsgn
    Participant
    @kevsgn
    Join Date: 2013
    Post Count: 15

    The properties are fully paid located in united states

    Need to find some banks for loan using the the properties

    But need not go to united states for application

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,190

    No Australian lender would be willing to lend based on overseas security. It would be a legal nightmare to lodge mortgages in a foreign jurisdiction and even worse to enforce if you stopped repayments.

    Terryw | Structuring Lawyers / Loan Structuring Pty Ltd
    http://propertytaxbook.com.au/
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    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of Arun BhutaArun Bhuta
    Participant
    @arun-bhuta
    Join Date: 2014
    Post Count: 41

    Dear kevsgn,

    In Australia a mortgage broker can not put application to bank unless then have done personal checks. Known as KYC.

    Similar requirements will be there in US. Hence you could not avoid going to US that is my understanding, but you need to verify with mortgage brokers with US.

     

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,190
    Arun Bhuta wrote:
    Dear kevsgn,

    In Australia a mortgage broker can not put application to bank unless then have done personal checks. Known as KYC.

    Similar requirements will be there in US. Hence you could not avoid going to US that is my understanding, but you need to verify with mortgage brokers with US.

     

    Another post which makes no sense!

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

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of jmsracheljmsrachel
    Participant
    @jmsrachel
    Join Date: 2012
    Post Count: 711

    Terry you need to read the post after you’ve consumed a slab of beer. It then magically becomes crystal clear.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,190

    A person wants to know if they can borrow against property located in the US. I am not sure what KYC has to do with it- no not a form of lubricant, but Know Your Client (i imagine). So I guess he is saying that the potential mortgagor must go to the US to get a loan because Australia has a KYC policy and therefore Arun presumes the US must also have one.

    Arun are you a new broker?

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

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,018

    No you certainly do not need to go to the US to lodge an application with a US Bank.

    Cheers

    Yours in Finance

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

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

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