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  • Profile photo of Simon PlummerSimon Plummer
    Participant
    @plummer
    Join Date: 2010
    Post Count: 44
    February 1, 2010 - 11:46 pm

    Hi All,

    I am about to apply for an Investment property loan with CUA. I am looking to hold the property under a trust structure, however they have told me they are unable to lend to me with this type of structure. From reading other topics in this forum I understood that most lenders were happy to do this. Do you guys think this is a mistake of individual operator or CUA's company policy.

    Thanks

    Plummer

    Simon Plummer | SP
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    Profile photo of Richard TaylorRichard Taylor
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    @qlds007
    Join Date: 2003
    Post Count: 12,024
    February 2, 2010 - 3:46 am

    Hi Plummer

    No it is not a mistake many institutions do not like lending to Trust structures. It is all about understanding what they are doing.

    Get your Mortgage Broker to give you some additional options because you should be able to get the combination of a competitive rate of interest, low fees and flexibility under a Trust structure even with a Corporate Trustee. 

    Maybe your Mortgage Broker is slightly inexperienced in this field.

    Richard Taylor | Australia's leading private lender

    Profile photo of Simon PlummerSimon Plummer
    Participant
    @plummer
    Join Date: 2010
    Post Count: 44
    February 3, 2010 - 1:52 am

    Hi Richard,

    I have not used a broker at this stage, I have just enquired personally. Would you recommend any Brokers in the Sydney City area?

    Ideally I am looking for a 95% LVR Loan where the property can be purchased in a Trust Structure.

    Thanks in advance

    Plummer

    Simon Plummer | SP
    https://www.sp.com.au
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    SP

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    February 3, 2010 - 2:25 am

    Hi Plummer

    I can think of a couple of lenders who would probably look at that but maybe they would want a P & I loan over say 30 years rather than IO especially at 95%.

    At that LVR will depend on the rest of the deal.

    Drop me a line if you need any other information.

    Richard Taylor | Australia's leading private lender

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