With a company title home loan, 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 take out a guarantor home loan.
- Up to 60-80% of the property value if you need a low doc loan.
Lenders tend to reduce the loan amount for company title properties. This is because they may face additional administration costs and delays if they have to sell the property in case of default.
The sale process may also take longer than usual as there are fewer people who want to buy into this ownership structure.
Many modern-day company title apartment blocks have fewer restrictions than the older blocks from the 1960s. However, most Australian lenders still assess them in the same way. We know - it makes no sense!
Moreover, there are some potential complications with company title as there may be restrictive rules in the company constitution which may require you to have any new owner approved by the other owners if you are selling.
Please call us on 1300 889 743 or enquire online and find out how much you can borrow for a company title home loan.
Cheers,