Looking around, its hard to get a loan for a Rural property, ie the loan amount is usually about 70%-80% nothing higher.
Any suggestions of lenders ?
Regards,
Arty.
[
]Hi arty,
I went through Bank of Melbourne (rocket repay)… with insurance through CGU.
Cheers
rArty
Not sure of which State you are referring to.
In Qld we use Heritage B/Society. If you want to let us now what size the land is and approximately where would be happy to try and point you in the right direction.Cheers Richard
[email protected]There is no such thing as a problem. Just a solution waiting to be found
Richard Taylor | Australia's leading private lender
Thanks all, im in Victoria.
We are looking for our PPOR to start with about 10-20acres. Modest for this one as we dont want a huge debt to repay for our home, and we can spend more on IPs.
Regards,
Arty.
[8D]Arty what’s the postcode?
[
]
MelMelanie around woodend 3442 to kyneton 3444.
[
]Arty, your postcode just makes the GEMICO list, category F! Lenders using this mortgage insurer should lend you up to 95% on houses for loans up to $300K in this postcode, land is not so clear cut – because I don’t know that part of Vic, I recommend talking to a local broker eg Stuart at Prosolution, or try CBA directly. [
]Cheers,
MelMelanie how did you find the %, “GEMICO list” ?
When we tried some time back for a house in Kyneton 20acres but the price was $395, we could only get 80% on the loan because it was rural zone 2. Since then we know that the
** Yay ! I got my 2nd[
][] star.Regards,
Arty.The Newcastle branckh of the ANZ been fantastic!
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