Hi All,
Scenario:
Person A is the sole director of a corporate trustee with a fixed unit trust (in which she owns all of the trust units).
The unit trust owns properties in which the "borrower" is the company but she provided personal guarantees for each of the bank loans.
When she applies for finance to purchase another property in her own name, would the corporate trustee's loans (in which she personally guaranteed) be visible to the banks eyes? Or are they seen as loans for a totally separate entity?
That's assuming this positive credit reporting is in place by the time she applies for the next loan.
Thank you.
Scenario:
Person A is the sole director of a corporate trustee with a fixed unit trust (in which she owns all of the trust units).
The unit trust owns properties in which the "borrower" is the company but she provided personal guarantees for each of the bank loans.
When she applies for finance to purchase another property in her own name, would the corporate trustee's loans (in which she personally guaranteed) be visible to the banks eyes? Or are they seen as loans for a totally separate entity?
That's assuming this positive credit reporting is in place by the time she applies for the next loan.
Thank you.
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