SMSF Finance in Melb

Viewing 10 posts - 1 through 10 (of 10 total)

cjgs276
Participant
@cjgs276
Join Date: 2002
Post Count: 3
February 2, 2010 - 11:05 am
Hi, can anyone recommend a SMSF lender in Melb that don't require a Pers Guarantee.
Looking to buy prop via SMSF in Inverloch asap.
email at [email protected] if need be
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
February 2, 2010 - 11:38 am
There is only 1 lender that doesnt at the moment require a PG.
Would need more details to let you know whether it would fit their criteria.
Richard Taylor | Australia's leading private lender
MikeF
Participant
@mikef
Join Date: 2008
Post Count: 60
February 3, 2010 - 4:09 am
cjgs276 wrote:
Hi, can anyone recommend a SMSF lender in Melb that don't require a Pers Guarantee.
Looking to buy prop via SMSF in Inverloch asap.
email at [email protected] if need be
The only lender not doing personal gtees that i know of will not do smsf for postcode 3996. Someone mentioned that Bendigo Bank may now be doing them without PG's but have not been able to confirm this.
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
February 3, 2010 - 5:10 am
Mike Bendigo do not require PG's.
Settled one with them last week.
Richard Taylor | Australia's leading private lender
YoungInvestor
Participant
@younginvestor
Join Date: 2003
Post Count: 377
February 4, 2010 - 7:14 am
Depending on serviceability and LVR, I might be able to do a SMSF lend without PG's.
PM me if you are still interested.
Regards,
Steve.
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
February 4, 2010 - 7:26 am
YI
My advice was irrespective of the LVR NAB always requires PG even if the lvr was less than 50%.
Done a few with them and very low lvr's.
Happy to be proved wrong but that comes from the top of Qld Credit.
Richard Taylor | Australia's leading private lender
YoungInvestor
Participant
@younginvestor
Join Date: 2003
Post Count: 377
February 4, 2010 - 12:24 pm
Hi Rich,
I wasn't going to go into too much detail (hence the request to PM for more info), but I did one last week without PG's.
They are assessed on a case by case basis, and the PG requirement can be waived in certain circumstances.
Regards,
Steve.
WhatIfWeFinance
Participant
@whatifwefinance
Join Date: 2009
Post Count: 58
February 11, 2010 - 10:14 am
Richard NAB Credit says the same thing in Victoria. They require a personal guarantee regardless of LVR. Would be interested in understanding what are the conditions NAB has for no PG?
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
February 11, 2010 - 10:22 am
WWF
Young Investor works for NAB so hopefully he might anwer your question.
Every deal i have done with NAB here in Brissie they have asked for PG's.
Richard Taylor | Australia's leading private lender
MikeF
Participant
@mikef
Join Date: 2008
Post Count: 60
February 11, 2010 - 10:33 am
Qlds007 wrote:
WWF
Every deal i have done with NAB here in Brissie they have asked for PG's.
Hi Richard – same here in Sydney PG’s always required. Another negative with NAB is that no mater how many times you provide the same Bare Trust documentation they still want to amend/change. Why…..because they can.
In fact one document provider now refuses to provide Instalment Warrant/Security Custodian deeds to prospective NAB SMSF borrowers because of this fact.