HELP - Westpac home loan to Corporate Trustee!?


I signed a contract today for a house. It will be purchased in the name of a trust with a corporate trustee.

I rang up Westpac to organise a bank loan.

They have sent me an application form. It is a BUSINESS FINANCE REQUEST form????

Has anyone here ever got finance from Westpac for a discretionary trust with corporate trustee??
Westpac do their company/trust applications through their business banking. The product isn't quite the same, but you should essentially get the same rate. It's a pain in the neck, but every lender has their 'quirks'.
Several of the major lenders wont offer you the same package rate as they would if the property was being purchased using a Personal Trustee or in your individual names so if Westpac arent giving you the applicable discount shop elsewhere.

For many lenders a Pty Ltd Company ATF is standard loan transaction.
What do the big banks require from a family trust in order to get a decent product, is personal trustee enough or do they want a guarantor when the trustee isn't earning much income or doesn't have other assets? Assuming the trust has a 20% deposit but little other assets. (And of course a lot of liabilities to beneficiaries in unpaid distributions!)
Hi Jonathan,

The personal trustee would need to either be the borrower or a guarantor for the loan. If they did not have sufficient income to service the property, another guarantor may need to be brought in to provide income support.


Cameron Perry
Perry Financial Strategies
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We bought 1 property just in a Trust (xxxx family trust) with me & wife as trustees, that was OK still resi, fairly easy.

Bought some other stuff in Trust with PTY LTD as trustee and that sent us off to the business banking section, NOT good, the resi section of westpac is heaps easier to deal with. The business banking section makes you feel like your bent over with a bit red hot poker sticking out of some where unpleasant. Ummm, not nice.

So have dealt with CBA and Westpac, with a simple family trust it seem nice and easy.

Thanks for your advice.

I had an appointment with a Westpac Business Manager. He asked how the existing NAB home loan in the name of the trust was organised. I said they treated it just like a normal resi loan as I provide a personal guarantee. So the Westpac business banker was like "well we can do that to". I passed their servicability test so unconditional finance should be approved in 2 weeks.

Hiya ]
Obviously your loan is at 80 % or less, u wont ever require an loc and from memory offset doesnt work too well either, theough they may have fixed that in biz banking

if you are after a fixed rate or a bog basic IO loan the Biz bank at 80 % lvr wbc is ok