Financing question

Discussion in 'Introductions' started by Peter Paul, 11th Aug, 2017.

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  1. Peter Paul

    Peter Paul Member

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    10th Jul, 2017
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    Location:
    NSW
    Hi everyone
    After 6 months of going back and forwards with a mortgage broker, missing out on other loan opportunities due to policy changes, I have just been advised that I can't get a LOC against my investment property because it is 33sqm. Are there any reputable banks that will loan against a property this size especially as I have a lot of equity in this property.
    Thanks so much
     
    Peter Paul, 11th Aug, 2017
    #1
  2. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Gold Coast (Australia Wide)
    One bed or studio ?

    TA

    ROLF
     
    Rolf Latham, 11th Aug, 2017
    #2
  3. Peter Paul

    Peter Paul Member

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    Studio
     
    Peter Paul, 11th Aug, 2017
    #3
  4. Jess Peletier

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

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    Is it student accomodation?

    If not, CBA used to do studio's.
    Otherwise apparently TMB do, but I've never used them myself.
     
    Jess Peletier, 11th Aug, 2017
    #4
  5. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    St G used to be good for these, but I haven't done one for years.
     
    Terry_w, 11th Aug, 2017
    #5
  6. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    I'd prob give CBA a go.

    Get a good understanding from the broker/banker as to whether it's going to fly prior to submitting an application.

    Cheers

    Jamie
     
    Jamie Moore, 11th Aug, 2017
    #6
  7. Peter Paul

    Peter Paul Member

    Joined:
    10th Jul, 2017
    Posts:
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    Location:
    NSW
    Thanks to everyone for your replies. Very helpful, I'll contact the banks you've suggested
     
    Peter Paul, 11th Aug, 2017
    #7
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