In this financial climate, is it possible to get a 50% LVR loan to buy an existing business?
I was reading BayView's topic where the bank wouldn't lend with business as security.
I checked the contract of sale and it does say lot #, subdivision etc. But the units are in a new estate, and every block (including house blocks) has a lot # and has subdivision.
There must be some where that it says conclusively what sort of title (whether it's strata or separate or...
According to my solicitor, he said because there is no owners corporation, that means there is no common land, but the townhouse I bought is sharing a wall with the one next door?? It's like a duplex.
And I didn't do any due diligence. I was too excited about buying my first PPOR. Yes I know...
I have just bought a townhouse in a complex of 20, but there is no body corporate (owners corporation).
I need building insurance for the home loan, but whenever I select strata title on the insurance online quotes, they won't offer building insurance.
Are there any insurance companies...
@Aaron: I'm not registered for GST but yes have 2010 Notice of Assesment though it shows a bit lower income than this year. Can you recommend a bank?
@Rolf: Thank you, I will try Westpac. Hopefully there will be less hoops to jump through.
@Aaron: Thanks for the form, appreciate it. 28 Days is a long time to wait though, as in middle of subject to finance now.
@Rolf: Yes I am doing 80% LVR, but Homeside still want the full Income Tax Return! What bank can do this?
Are there any banks that will take the 2011 and 2012 Notice of Assessment instead of wanting the full tax returns that were submitted to the ATO?
I did it through etax and don't have it anymore. Any ideas?