All Topics / Finance / Lenders for student accommodation

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  • Profile photo of CRECRE
    Participant
    @cre
    Join Date: 2010
    Post Count: 1
    March 14, 2011 - 5:32 am

    Hi, Do any of the lenders out there offer loans on student accommodation anymore? I've heard they've stopped in recent times?

    I'm in Adelaide and really need to know. Cheers…

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    March 14, 2011 - 12:17 pm

    Do you want to give us a little more details about the property and when you say student accomadation how many are you referring to.

    If you mean a block of 18 bedsits then would be a different lender that for a 3 bedroom house all individually let to students.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Mick CMick C
    Participant
    @shape
    Join Date: 2010
    Post Count: 1,099
    March 15, 2011 - 7:23 am

    There are lenders that still look after student accommodation- but the loan needs to be massaged to suit the lender’s requirements.

    Need to know the following:

    How many squ meters?
    If it self contained?( ie shared Laundry/kitchen?)
    How many unit’s in the compelx?
    Is this off the plan? or existing?
    Is there a controlling agent ? ie SHA?

    Just be aware, the LVR would be around 65%, you must have good serviceability, the rent from this property will be only taken at 50%.

    Regards
    Michael

    Mick C | Shape Home Loans
    http://www.shapehomeloans.com.au/
    Email Me | Phone Me

    Same Banks. Better Rates. Served With a Passion.

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