Finance on smaller block of units

[Qlds007]

I have just sold one of my many units blocks being 18 units inline in Brisbane.

Not that i had a mortgage on the property but Anz Commercial fund all of our deals at resi rates.

For your standard mum & dad investor looking at a buy and hold SGB or CBA are your lenders of choice as Shahin mentioned.

St George are certainly still in this space,did a 4 pack with them during the week.

Cheers

 

[ritchie77]

Thanks guys and congrats Richard on cashing in!

Will look further into the SGB comments as I seemed to hit a stumbling block however will re-visit and reach out if any further questions...

 

[ritchie77]

Hi Richard, what are the approximate LVR's and interest rates going on these deals at the moment,,,,, in particular for a 4 block in the $1.5M region? (ie what did you get from SGB).

 

[Mick C]

Block of 4 at 1.5M -- 80% LVR ~4.20% - 4.39% Variable rate

Block of 4 at 1.5M -- 70-% LVR ~4.15% - 4.30% Variable rate

Range of banks including some credit union + your STG ( STG rate will be in the middle)

 

[Watson1]

Hi Richard, what are the approximate LVR's and interest rates going on these deals at the moment,,,,, in particular for a 4 block in the $1.5M region? (ie what did you get from SGB).

Cant comment of four, but we did 3 at 70% LVR with BoM/STG just recently.

1 mill existing debt under personal names for owner occupied and 600k under company (not under advantage package/pro pack).

We obtained a 1.30% discount which equates to 4.15% under BoM across all loans.

I would say that for 1.5m you would obtain 1.30%. Also, BoM/STG dont price on LVR so im pretty sure you would see obtain a 1.30%. BoM did change their pricing for investment loans last week, but so far we have seen much of a change in terms of owner occupied vs investment when seeking a pricing discretion.