Get hold of the contract to see if there is a registered finance institution on the title attached. Then approach that lender directly with the property address to see if they are interested in continuing their relationship with the property under another owner and loan.
Should of thought of this long ago. So simple it’s darn stupid!
Onwards….
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Hate to say it doesnt quiet work like that.
Each application is indivually assessed both as you as an applicant and the property as the security being offered.
Just because a lender has lent against a property once doesnt mean it will carry it on again.
Policies change and it maybe that the lender is not keen on taking new applications on that style of particular property any more irrespective of what has gone before.
Nice thought.
Cheers Richard
richard at castlewhite.com.au
Email me for details of our Qld wrap service.Richard Taylor | Australia's leading private lender
They probably would be interested. But what does that mean?? You still have to apply for finance, and everybody’s circumstances are different, so they may still not be able to lend on that property. At least it may give you an idea on where to start.
Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
I really don’t see any real benefit in doing this unless it is a tricky security type. All standard processes and costs would apply whether the property stays with the same lender or not.
Robert Bou-Hamdan
Mortgage Adviser
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