Max Borrowing Capacity Lending Solutions Please

Hi,does anyone know if there are any other avenues of lending besides banks, non bank lenders and short term private lenders? We have 7 properties and would like to purchase more but everyone is saying no !

 

Tried Liberty?

 

That pretty much covers all the lenders out there but what about:
Related parties

e.g. Parents. They could set up a LOC against their main residence and then onlend to you.

 

It's getting tough - especially for those with multiple properties.

There's still a couple of "generous" lenders out there that might be able to assist. I don't know if it's a good idea to continue mentioning them on a public forum though. I'm not trying to be secretive but last thing we need is to lose them from our arsenal due to constant mentions on a popular property investing forum.

Cheers

Jamie

 

I think that is wise, I always thought there should be areas of the forum for members only, it also means they probably would not gouge and be so slow to get things done if not pumped up so much in public.

 

Thanks so much everyone for replying,that info has helped us a lot.Yes,we already have losns with Aussie,Pepper and and Liberty,not sure if there are any other non bank lenders who are as generous as these.I wish our parents could help but sadly not!Some so called property expert,Mark Rolton, is spruiking his seminars and saying that he knows how to get loans when banks ect are saying no,but I doubt it!

 

I believe you can always get finance for good properties if you buy well, but you have to decide if the loan cost/conditions are viable, and for many buys if they will be buy and hold long term, the options are not likely suitable.

Your not going to get major banks to change policy for retail market via regular retail channels as a normal regular buyer.

 

I don't.

Maybe in theory, if you pay 20% pa some private person will lend you some money, but in practice it doesn't work.

 

I know people who did exactly this, never went to a normal bank, but yes, they paid for it.

Rates were much higher then, I doubt it would be 20% now - or even if the same people are doing it now & I am not in any way saying it is easy nor suitable really for long term hold.

But lets just contain this to normal resi lending.

There is always a way, if you take first no as an answer and do not look into why or get other opinions or start looking at what you have to do. Then your relying on that person who said no to be 100% correct. Not everyone is 100% correct all the time.

 

I have known people who have done it too, but i have seen people who thought they could always get finance and then lost their deposits when they couldnt settle.

 

The person I know who was doing it, was too tight to loose anything, they never once lost anything that way that I know of. I lost quite a few days of my life I can never get back listening to moaning about rates and rolling such things over....lol.....

There is a difference between doing things using intelligence and just going to an auction and hoping you can settle with an overpriced, under valued property you bought at random.

Am always talking about doing things with thought & planning and purpose, not just random or going ahead when you have no plans in place, but due to this being an open forum, I guess I should not leave out parts I assume are taken for granted as not everyone is at the same level here, I know you know what I am talking about, but I do not want to mislead people into thinking there is easy solutions, that is/not my aim.

 

Yes I agree there are many ways a person can get finance - related parties, non related parties, vendor finance etc They just have to plan well in advance and not assume that they can always get finance. I find many people have equity and they just assume they can get finance because of this.

 

Yes, I know people like this too, then they get in a mess, will be discussing things in detail with someone soon who is in a mess re OTP even after they asked, and I said do not do it and why.

I would never advocate that, too much stress for no good reason (or return in many cases).

 

There must be a reason banks are no longer lending to you.

Perhaps it's time to take stock of your property portfolio and see if you are overleveraged.

 

I think there will always a limit on the loan

 

Sometimes it is not a lack of income it is a lack of serviceable income as the banks see it

 

RAMS Lo doc

 

Yeah, it always going to be about income doing things the standard way with normal job.

Or to be more precise.

Income, income sources and type and outgoings and what these outgoings are.

You could potentially have a pile of equity or very low or even zero LVR, and a lender may not want a bar of you.

 

Or a decent income but the lender won't count it for policy reasons

 

This might work in limited situations. Certainly not a cure all for those who have maxed out.