Mortgage for company title security

Anyone knows which lender can do loan for "Company title" property?
It's a acreage land with 2 bedder cottage on it.

 

Depending on the size and location of the land, does the cottage have mains power?
The issue is not the company title as such, quite a few lenders consider that bit.

 

NSW.
3 acre
yes. cottage has mains power.

 

Pretty straight forward then, correction, should say some lenders won't consider but there are many that are fine with it, some even give OO rates if living there but owned in company name.

 

Good point Rolf, I ASSumed due to the security type it was the latter

 

Currently 2 directors in company each having 50% shares. One owner wants to sell his part.
After purchase I own 50% shares.
The whole property is one lot. It is not subdivided.

 

So its a company which owns the title ? Therefore one party wants out. That may not be easy. You may need to find someone who wants to co-own as 50% shareholder in a company. The lender may need to release on Director guarantee and take on another, So the company is the owner and that wont change ? This could also pose a liability risk eg One Director cant pay so the other is stuck with debts. Its a bit like a partnership. Only thing that changes is who one shareholder is. A bit of legal advice involved to this. If its new residential premises the new shareholder may also need to consider the accrued GST liability as it affects value.

The lack of control etc in a 50%/50% shareholding isnt as solid as many think. Could end up in a costly supreme court hearing if both cant agree to all things ? Perhaps the other has a casting vote which may also not work well.

May not be the most liquid way to own a portion of property. hence price could reflect things. Its like me asking if anyone else wants to co-own with my wife.

 

Could also be dutiable. Some states, some property. Despite no change of legal ownership.