If you want to buy a company title apartment unit then a company title mortgage may be a suitable option for you. You may be able to borrow:
- up to 85% of the property value if you’re a first home buyer.
- up to 85% of the property value if you’re investing.
- up to 100% of the property value plus costs if you’re taking out a
- guarantor home loan.[/url]
- up to 60% of the property value if you’re taking out a low doc loan. If you have BAS statements to support your income then you may be able to borrow up to 80% of the property value.
Bear in mind that lenders tend to reduce the loan amount for company title properties. That's because these structures tend to have additional administration costs and there can be delays in the event that they have to sell the property to repay the home loan. There is simply less of a market for people who want to buy a company title unit.
Many modern-day company title apartment blocks may have fewer restrictions than older blocks from the 1960s. However, most Australian lenders still assess them in the same way.
If you want to learn more about this then call us on 1300 889 743 or complete our free assessment form.
Cheers,