Hi Sumeet - How much did you purchase the land for? Its worth much more than you paid for it, considering you have had it for almost 2 years. I have lenders who do not want your full tax returns as such - cant comment much more on here - but contact me if you wish to find a solution for you. Regards
Hi Sumeet, all of these brokers would be able to assist as they are all very experienced and have incredible dedication to what they do. Good luck with whoever you choose to work with. Kathy
Land is in personal name****my financials are not ready from 2017 and in 2016 income is not much. But company is 16 years old and operating since then and i am sole director.
Hi Sumeet, Firstly I would recommend to be very careful putting more applications in as this will definitely not look good on your credit file. Although you can explain what they are for you do need to be careful to ensure you put yourself in the best position to get finance. With the limited information I am unsure what the reasoning is for a low doc loan. If you do have financials for your company and are able to service the loan you would be able to look at a 80% lend without the additional LMI or risk fee associated with a low doc loan. kind regards, Kathy
Hello Sumeet, That sounds like a real challenge for you and I can understand your concern. The good news for you is that I specialize in these types of applications. You will find that all lenders will allow you to lend different amounts based on your income, being a business owner does not mean you have to go for a low doc. I have a number of lenders with some great policies around large rural allotments, we may be able to look at rates as low as 3.74% but I will need to get a greater understanding. Please drop me a line and It will be my pleasure to assist
Hi Sumeet, thanks for your question. I just want to clarify why you went to Rams. Was it that you are not happy with the rate or the LMI on the CBA loan? Unfortunately if you are borrowing on a low doc basis at 80% loan to value, you will either have to pay lenders mortgage insurance or a risk fee. Generally the rate will also be higher with low doc loans. I have other lenders who operate in this space but without knowing the full location details for the land, I can't tell you what the best offer is. You can contact me through my Hashching profile. Regards Allan
Hi Sumeet. Our company specialises in assisting customers in regional locations with acreage. I would like to discuss your situation further. Please advise when is a good time to chat and the best contact number. Regards Andrew.
Did you purchse the land in personal name or Company? Based on your answer, I should be able to guide you further
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Antony
Hi Sumeet. I am regionally based and still service the Gippsland area, have extensive experience in small acreage and would think you will have some options - however they will be limited. Please contact me if you would like to discuss. Cheers. Antony