3 unit/ 1 title for ageing borrowers

Discussion in 'Loans & Mortgage Brokers' started by MC1, 11th Jun, 2021.

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  1. MC1

    MC1 Well-Known Member

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    Hi All,

    Who is the go to for 3 unit development, applicants will hit retirement age in 20 years, want a 30 year term, exit strategy is not an issue?

    Cheers
     
    MC1, 11th Jun, 2021
    #1
  2. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    NAB, Bankwest, BoQ
     
    Jess Peletier, 11th Jun, 2021
    #2
  3. Lindsay_W

    Lindsay_W Well-Known Member

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    Many options available, suggest they speak to a good broker.
     
    Lindsay_W, 11th Jun, 2021
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    MTR likes this.
  4. MC1

    MC1 Well-Known Member

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    Cheers Jess,

    Was looking at NAB, lodged one there a while ago we we had a bit of kick back with age, even though they had a easy exit strategy. Will look up policy. Cheers
     
    MC1, 11th Jun, 2021
    #4
  5. Tony Xia

    Tony Xia Structured Loan Advisor Business Member

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    Sign up to Wikibroker. Just about all bank policies are there.
     
    Tony Xia, 12th Jun, 2021
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  6. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    If they're INV, just selling off at retirement to clear remaining debt should be enough of an exit strategy. I can't see it being an issue, especially if only 10 years past. If 5 years until retirement, maybe different story, but 20 working years left is heaps.
     
    Jess Peletier, 14th Jun, 2021
    #6
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  7. MTR

    MTR Well-Known Member

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    For sure
    I am still sourcing finance, am a senior gal, but you got assets it helps as lenders see an exit strategy
     
    MTR, 14th Jun, 2021
    #7