Residential Lending

In general, a traditional mortgage will use the purchased building as security for the loan, but in some instances, this isn’t always ideal. The property’s value, location, and condition are just a few of the factors that are important to consider. Most lenders will hire the services of a surveyor to evaluate the building, to see if there’s anything that could have a negative impact on the monetary value of the equity. As a result, there may be times where an investor will need more assets to be used as security, but we’ll be on your side to help you pick the best solution.

CASE STUDIES

Residential investment purchase in Melbourne.

Property details

Typical Suburban Street inner north of Melbourne central business district. three-bedroom one bath and a white picket fence.

What did the client want?

After the property was inspected for valuation, the report was sent to the lender, who offered less finance than anticipated. We were tasked with sourcing a new lender that offered a higher loan to value ratio.

What did we do?

We sent a copy of the valuation to numerous lenders and received suitable lending Terms.

Difficulties along the way

Re-applying with a new institution takes time and the vendor offering an extension.

The result

Because of our close relations with the lender, we settled on time which resulted with a pleased client.

Main street bank refuses finance for self-employed applicant.

Property details

The client was seeking to purchase an owner occupy property in the southern coastal areas of Adelaide.

What did the client want?

After meeting a representative from his Bank, the client was informed that they would use his last two years financials for servicing and not his current income. The client needed a lender to consider his current YTD (Year to date) income rather than his previous years income.