All Topics / Help Needed! / Company Title Unit

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  • Profile photo of wishing_wellwishing_well
    Member
    @wishing_well
    Join Date: 2008
    Post Count: 1
    July 10, 2008 - 9:50 pm

    Hi All,
    I am considering the purchase of a Company Title Unit.  I have been reading up that it can be difficult to obtain finance and that some don't allow units to be rentals but thought that I would ask around to see if anyone else has purchased one and what they have experienced. I really want to purchase a unit in this particular area and obviously the purchase cost is considerable less for this type of unit. So…..do you or have you owned one and what to share your experience?  Thanks,

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    July 11, 2008 - 9:24 am

    WW

    Welcome to the forum.

    A Company Title Unit involves the ownership of shares in a company set up exclusively for the purpose of ownership of a specified property whereby the owner of shares in the company has right to occupy (or lease to a tenant) a specified unit or allotment with the overall property. Holders of company titles shares to not have the absolute right to ownership or a particular lot within the overall property. Their lot is assigned as an entitlement due to ownership of a specific parcel of shares.

    Yes this type of security can be difficult to finance even impossible with some lenders.

    Realistically you will be limited to 75-80% LVR with most lenders.

    Richard Taylor | Australia's leading private lender

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