Finance

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From: Mike .


Refinancing a serviced apartment
From: Anna
Date: 03 Jan 2001
Time: 11:18:22

I am looking to refinance a serviced apartment in an inner suburb in Melbourne. It has a 15 year commercial lease and all our goings are paid by the leasee. The rent more than covers the interest.

When I purchased the apartment in early 1998 my bank happily financed it to 80%. Their policy in regards to financing serviced apartments has now changed to 60% and I want to refinance to a bank with an 80% LVR. Does anyone know which banks would be able to help me out?

 

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Rolf

Reply: 1
From: Mike .


Re: Refinancing a serviced apartment
From: Rolf
Date: 03 Jan 2001
Time: 18:29:04

Hi Anna

RAMS will pick up Serviced apartments on a case by case basis at up to 80-85 % LVR. There are a heap of conditions to be met some of which include that the operators are a known and experienced group etc etc, but this looks like better than 60 %

If you would like more info you can get me on:

[email protected]

Regards, Rolf