Servicing and personal guarantee

Discussion in 'Loans & Mortgage Brokers' started by JohnPropChat, 9th Feb, 2020.

Join Australia's most dynamic and respected property investment community
Tags:
  1. JohnPropChat

    JohnPropChat Well-Known Member

    Joined:
    10th Sep, 2015
    Posts:
    2,293
    Location:
    Middle Earth
    Which lenders exclude a personal guarantee as director of a company trustee from servicing in personal names? I think worstpac doesn't care. Any others?
     
    JohnPropChat, 9th Feb, 2020
    #1
  2. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    10,653
    Location:
    Gold Coast (Australia Wide)
    Depending on the overall A&L and the REAL nature of the guarantee ( for eg a trust running a quality tenant in a commercial property with more Net passing rent than total cost) many lenders will make a business decision on the facts rather than just policy per se.

    ta
    rolf
     
    Rolf Latham, 10th Feb, 2020
    #2
    JohnPropChat and Terry_w like this.