Help with Student apartment finance

Viewing 7 posts - 1 through 7 (of 7 total)

ijazaziz
Member
@ijazaziz
Join Date: 2003
Post Count: 5
October 20, 2010 - 4:20 am
Can anyone advise if there is any lender willing to lend on Student Housing apartmmnet of about 26 sq meter in Box Hill. I have tried all the major Banks with no luck. I have to settle with my own funds but still looking for mortgage. Ijaz
Richard Taylor
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@qlds007
Join Date: 2003
Post Count: 12,024
October 20, 2010 - 6:17 am
What lvr are you looking for?
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
ijazaziz
Member
@ijazaziz
Join Date: 2003
Post Count: 5
October 20, 2010 - 9:29 am
Hi Richard
Would prefer 80% but will accept anywhere between 60 to 80%. I signed off-the paln about one and a half year ago for purchase price of $171,800. It has setled now with my own funds.
ANZ took it to the last step then said they have decided to not do student housing anymore. It got rented straight away. Rent is $230 per week. Will wellcome your help. Ijaz
ijazaziz
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@ijazaziz
Join Date: 2003
Post Count: 5
October 22, 2010 - 12:26 am
Is it no luck there Richard?
duckster
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@duckster
Join Date: 2004
Post Count: 1,674
October 22, 2010 - 7:08 am
check out this site
http://www.firmfinance.com.au/
Was originally advertised in Herald Sun
ijazaziz
Member
@ijazaziz
Join Date: 2003
Post Count: 5
October 22, 2010 - 11:31 am
Thanks Dukster, I shall call them on Monday.
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
October 22, 2010 - 12:17 pm
Sorry for the delay in coming back to you the number of applications and enquiries today has been ridicolous.
You wont fund it through a traditional lender and as Duckster as indicated will purely be a non conforming or private lender.
I have just done one in Melbourne at 60% but it was done at 9.75% thru private money so certainly not cheap.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender