Highest LVR on duplex?

Discussion in 'Loans & Mortgage Brokers' started by klabat, 2nd Mar, 2017.

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  1. klabat

    klabat Well-Known Member

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    Hi guys,

    Was wondering which lenders offer a high LVR for a two dwelling under one title?

    Are there lenders out there that consider up to 90% geared
     
    klabat, 2nd Mar, 2017
    #1
  2. D.T.

    D.T. Specialist Property Manager Business Member

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    I have one at 90% with CBA, not sure if they still do it.
     
    D.T., 2nd Mar, 2017
    #2
  3. Redom

    Redom Mortgage Broker Business Plus Member

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    90% - a few do it. Of the top of my head, CBA, ST G, NAB, etc.

    Rules do vary slightly for construction of multiple dwellings, but most are comfortable with 2 units on one title purchases.

    Note may run into the insurer approval standards if loan amounts are more than 1mill.
     
    Last edited: 2nd Mar, 2017
    Redom, 2nd Mar, 2017
    #3
  4. klabat

    klabat Well-Known Member

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    Thanks Redom and DT

    Is 3 dwellings under the one title at those LVRs available or is that now pushing it?

    Currently in negotiation with the council in allowing either 2 or a 3 unit proposal which the council is very pro development, only thing is that the finance and capital to put into it changes things.

    In terms of servicing we are in a good position, just the lvrs.
     
    klabat, 3rd Mar, 2017
    #4
  5. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    technically to 95 Inc LMI for even 2 OOT even for a build,or 90 for 3 OOT


    Comp sales, In one line val haircuts, and total loan amount per security beyond in house lender approval are the usual sticking points.


    ta
    rolf
     
    Last edited: 3rd Mar, 2017
    Rolf Latham, 3rd Mar, 2017
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  6. Corey Batt

    Corey Batt Well-Known Member

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    95% LVR for duplex
    90% LVR for triplex

    Don't equate two on one title as a the same value as 2x standalone houses - generally these can be valued 20-30% below what the standalone properties would be worth, so you cop it in that regard.
     
    Corey Batt, 3rd Mar, 2017
    #6
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