Best LVR Lender for Moiety Title?

[Anon_]

Hoping if anyone can give any recommendations on good lenders that will still loan a decent amount of the property is on a Moiety title? There is a $300k property I like, but alas the dreaded word.

 

[Aaron_C]

Max 70% with the St George group.

 

[geoffw]

I hadn't heard of it, but it has been covered in here, albeit a while back.
http://somersoft.com/forums/showthread.php?t=54113
http://somersoft.com/forums/showthread.php?t=50113 - with the interesting comment about somebody who buys these at a good price and converts them to community titles

Interesting that these showed up in Google but not in a board search.

From sa.gov.au

Moiety titles

In a moiety title, sometimes referred to as a cross lease, the ownership of a unit comes from being the registered owner of a share of the land the group of units sits on. The owner is leasing the right to occupy their unit, along with the right to use common areas, from the other unit owners.

Coverting (sic) company titles and moiety titles

Most company and moiety titles can be converted into either a community title or a torrens title. This can make the administration simpler and may increase the value of the property

 

[Corey Batt]

Yup, best to put this one to BankSA.