All Topics / Finance / Getting finance for a company

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  • Profile photo of fredo_4305fredo_4305
    Participant
    @fredo_4305
    Join Date: 2009
    Post Count: 336
    January 10, 2010 - 6:25 am

    Hi all, 
                I am looking for a potential development site and I wish to now develop properties through a company trust setup. 

    Is it as simple as providing personal funds from using equity to put down as a deposit to get the ball rolling for the company?

    Ie Purchase Price 100K,  I give pers funds of 40K from personal equity to Company the bank gives the company the remainder?

    Or is it alot more complicated than that.

    Is it easy to get banks to fund this?

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    January 10, 2010 - 8:45 am

    Yes its that simple. You will need to prove your personal income though – ie person behind the company.

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

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of fredo_4305fredo_4305
    Participant
    @fredo_4305
    Join Date: 2009
    Post Count: 336
    January 10, 2010 - 9:31 am

    Thanks Terry.  What sort of LVR will they offer due to it being a company?

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    January 10, 2010 - 9:35 am

    You would still get 90-95% but not all lenders will offer you the interest rate discounts you would get if buying in your own name or have a personal Trustee.

    Richard Taylor | Australia's leading private lender

Viewing 4 posts - 1 through 4 (of 4 total)

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