Hi All,
I am looking to purchase a property that is a company title but my bank will only lend me 80% of the value of the property. Does anyone know what the maximum is?
Regards
D
Transfer of ownership is at the discretion of the other company directors. So if the other directors don’t like you, a prospective purchaser or tenant, they won’t grant consent to sell or lease.
They have more power than Body Corporate.
Hi D,
If you know how company titles works then that's great but if you don't please ask away.
To answer your question re the finance side of things, due to the risk (resale) associated with company titles many lenders will go up to 80% as the maximum LVR however St George will do 85% on company titles.
Regards
Shahin
TheFinanceShop | Elite Property Finance
http://www.elitepropertyfinance.com
Email Me | Phone MeResidential and Commercial Brokerage
A couple of lenders will do 85% at varying interest rates and charges.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Thanks Shahin – I sent an email to you this morning did you get it?
Hi Dale,
Apologies for the delay in responding but this time of the year is pure chaos. I have just responded to your questions.
Regards
Shahin
TheFinanceShop | Elite Property Finance
http://www.elitepropertyfinance.com
Email Me | Phone MeResidential and Commercial Brokerage
A couple of lenders can go up to 95% for company title however you must meet very strict criteria. Clear credit, 5% genuine savings minimum, 2 yrs + in job, must be a purchase, must be in a capital city and the valuer must like the property that you are buying. Otherwise 85% is the max
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