All Topics / Help Needed! / Banks that do not consider a directors guarantee as a personal liability

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  • charliefaddoul
    Participant
    @charliefaddoul
    Join Date: 2022
    Post Count: 0

    Hey everyone,

    I was wondering if someone could please provide a list of banks and lending institutions that do not consider a directors guarantee as a personal liability.

    All Big4 banks do not allow income to be recycled multiple times, because the directors guarantee is considered a personal liability.

    If someone could provide a list, it would be greatly appreciated.

    Thanks,

    Charlie

     

    Profile photo of Steve McKnightSteve McKnight
    Keymaster
    @stevemcknight
    Join Date: 2001
    Post Count: 1,763

    Hello Charlie,

    This has not been my experience, nor the experience of all other’s I know.

    I will do an update on the matter via a webinar soon.

    Remember that the structure only works for +ve cashflow property and you will need to use business bankers. Contact Chris Berry from http://www.PropertyInvestingFinance.com for more assistance.

    Bye,

    – Steve

    Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
    https://www.propertyinvesting.com

    Success comes from doing things differently

    charliefaddoul
    Participant
    @charliefaddoul
    Join Date: 2022
    Post Count: 0

    Hi Steve,

    I find this strange as I spoke to the business bankers of all Big4 banks. I also asked for there managers, which confirmed policy’s that a directors guarantee is a personal liability even for a positive cashflow property.

    All banks had similar reasoning, and when I explained to them that I do not have any loans (since the company that owns the trust does), they said that I still have a guarantee which is a liability, as even if it is positive cashflow, if something goes wrong, they will be chasing me. Perhaps this is a case of ‘who you know’, but certainly I am finding it very difficult to find a connection within the bank that will allow me to borrow this money.

    You also mentioned a webinar, would you please give more details on date and time, as I would love to join and hopefully resolve some of the obstacles I am facing.

    Kind regards,

    Charlie

Viewing 3 posts - 1 through 3 (of 3 total)

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