Join Australia's most dynamic and respected property investment community

Mortgages for the rentals

Discussion in 'Property Management' started by JeflinJohn, 27th Sep, 2016.

  1. JeflinJohn

    JeflinJohn New Member

    Joined:
    19th Aug, 2016
    Posts:
    3
    Location:
    canada
    Hi there,
    I am looking for mortgages for rental apartments. Can I get one? I have planned to do business with rental apartments. What are the documents I have to produce to get the mortgage?
     
  2. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,140
    Location:
    Canberra and Sydney
    Can you get a mortgage? Maybe

    Depends on your borrowing capacity, deposit size, employment history -the list goes on.
     
  3. JeflinJohn

    JeflinJohn New Member

    Joined:
    19th Aug, 2016
    Posts:
    3
    Location:
    canada
  4. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,542
    Location:
    Sydney or NSW or Australia
    You can't mortgage what you don't own. Subletting may not be illegal but could breach your lease.
     
  5. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,091
    Location:
    Melbourne, Nationwide
    These are apartments in Canada and this is an Australian based property forum. Someone might here might have some experience in Canadian property and finance, but you're probably asking in the wrong place. :(
     
  6. Perthguy

    Perthguy Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    4,671
    Location:
    Perth
    No.

    Best read your lease agreement for the answer to this question.
     
  7. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

    Joined:
    18th Jun, 2015
    Posts:
    8,957
    Location:
    Sydney
    A mortgage is a form of security.

    I think you mean 'loan' - yes you can get a loan without giving a mortgage - personal loans, credit cards etc are unsecured.
     
  8. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,542
    Location:
    Sydney or NSW or Australia
    With an interest rate to match