Looking to buy 6 units and the CBA has told me I can only get the loan under a Pty/Ltd or company trust. They wont lend to an individual for commercial residential loans?
Is this the same with all banks or just a CBA thing?

Hi Paul, every Lender/bankhas it’s own policy rules pertaing this type of transaction.
Get in touch with a broker who can do the research and advise you.
Feel free to contact me on 0415742092 or louis@homeloansinaus. com.au
Regards
Louis

Hi Paul,

Interesting to hear that CBA are forcing you down the path of using a company/trust to complete the transaction - I would think that since this is a commercial transaction in nature, the bank is trying to push it down the unregulated path.

Every bank does have it's own policy and process on how they look at it, so other lenders might not necessarily have the same outlook as CBA.

If you would like to discuss further please don't hesitate to contact me.
omazkovoi@lendperspective.com.au
0412 261 310

Regards,
Oleg

I can give you some options as well.

Hi Paul,

From the bank's perspective (albeit not CBA!) it shouldn't matter if you want to purchase these units in your individual name or a trust as you'll be on the line personally either way if you default.

The question should be, what is the main reason why you want to buy it in your individual name? I would suggest getting advice from an accountant on this but in the meantime, I've actually recently written an article on this subject which was published by the Australian Property Investor Magazine - http://www.apimagazine.com.au/property-investment/to-trust-or-not-to-trust-purchasing-property-in-your-individual-name-vs-via-a-trust-structure.

Moving forward, if you want to have a deeper chat about this, give me a call.

Tim Russell
Call: ✆ (0400) 530 868
Email: ✉ tim@multipartfinance.com.au
Visit: ☛ https://multipartfinance.com.au