- AndrewParticipant@andrew84Join Date: 2014Post Count: 2
We recently refinanced our home to take advantage of the lower interest rates and discovered we have around $150k in equity. I have found a positively geared property with a purchase price of $390k. I approached the bank we used to re-finance and they agreed to lend the entire amount plus costs but refuse to lend to a trust.
The second lender I approached will loan to a trust but won’t lend the full amount.
Any suggestions for a financier who might do both?
Thanks for any help.TheFinanceShopParticipant@thefinanceshopJoin Date: 2012Post Count: 1,271AndrewParticipant@andrew84Join Date: 2014Post Count: 2
Thank you for the reply.
We are using Adelaide Bank and it is a family trust with myself as the sole trustee.TheFinanceShopParticipant@thefinanceshopJoin Date: 2012Post Count: 1,271RischedParticipant@richedJoin Date: 2014Post Count: 1
Sometime you have more then one ways to do a task. Be confidante , I suggest bank is a right decision for you. Make sure about the plans and products of it . Don’t double minded , be clear and you will found good results.
Jamie MooreParticipant@jamie-mJoin Date: 2010Post Count: 5,069Richard TaylorParticipant@qlds007Join Date: 2003Post Count: 12,024
- This reply was modified 7 years, 8 months ago by Risched.
As has already been stated there are many lenders out there that lend to Trusts without any loading on the rate of interest or increased fees and charges.
Would need additional information of your requirements before making a suitable recommendation.
Yours in Finance