Are there any lenders flexible enough for this...?

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Hi,

Here are a couple of lending scenarios that I am currently exploring...

Scenario 1:
I have an unencumbered freehold vacant block of land (owned in a discretionary trust w/corporate trustee) and am wishing to use this as security to setup a LOC in my private name. I believe this should be feasible, but the challenge is that I require a lender flexible enough to accommodate the following:

• Accept low-doc (or no-doc) application
• Accept rural location (Clifton, Qld; postcode = 4361).
• Provide at least 60% LVR (prefer 70%+, if rate/fees are reasonable)
• Size of the land is 10.031ha (about 24.8 acres)

Scenario 2:
I also have a freehold commercial property under contract in the same town. This particular purchase will be my first experience seeking commercial finance. Can anyone suggest a competitive lender that could provide an IO loan, based on the following:

• Accept low-doc (or no-doc) application
• Accept rural location (Clifton, Qld; postcode = 4361).
• Provide at least 70% LVR
• Land is commercial zoning, size is 2,023m2 (half-acre)
• Improvements: 4 x Shops + 1 x Residence + 2 x Sheds
• Purchaser/Loan Applicant to be a Pty Ltd company.

I have spoken to a couple of mortgage brokers and also directly to a handful of lenders, but haven't come up with an ideal solution as yet... Does anyone have any suggestions for either scenario above?


Jason.

 

[Qlds007]

Jason

Clifton isnt acceptable post code to Gemworth and vacant land is on application to PMI so that rules many nodoc/lodoc lenders out.

SGB will not accept 4361 so why not try Latrobe / Liberty.