getting a mortgage when new in business
Aug 26th 2007, 7:54 am
#1
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getting a mortgage when new in business
Does anyone know of any companies that would be willing to give a mortgage to someone who has been here 9 months and in business for 6? The business has been established for years and is very profitable. I've been offered a mortgage if I put 30% down but this would leave things a bit tight. I have $100,000 to put down so I'm surely not a big risk? I need about $250,000. Any ideas?
Aug 26th 2007, 8:38 am
#2
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Location: Aarschot Belgium
Posts: 355
Re: getting a mortgage when new in business
Not quite sure as I don't live there, but I've posted a similar post, and I've come to the conclusion that your better off finding a mortgage broker.
Otherwise RAMS has popped up a few times there aswell, but not too sure now with the problems in the US.
Goodluck, What business you in and did you start it from scratch or did you take it over?
Otherwise RAMS has popped up a few times there aswell, but not too sure now with the problems in the US.
Goodluck, What business you in and did you start it from scratch or did you take it over?
Aug 26th 2007, 9:56 am
#3
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Location: Gold Coast, Queensland
Posts: 269
Re: getting a mortgage when new in business
Does anyone know of any companies that would be willing to give a mortgage to someone who has been here 9 months and in business for 6? The business has been established for years and is very profitable. I've been offered a mortgage if I put 30% down but this would leave things a bit tight. I have $100,000 to put down so I'm surely not a big risk? I need about $250,000. Any ideas?
You shouldnt have a problem, however I would try a Broker as they search 10-15 companies for the best deal. Unlike the UK you dont have to pay a Broker. Im not sure about "business" loans however you can take a "low doc" loan where as long as you have 40% your okay, maybe not as much with a business loan. Good luck
Aug 26th 2007, 12:20 pm
#4
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Re: getting a mortgage when new in business
could one get a loan from the UK to purchase property in Sydney? I am sure the answ will be no
Aug 27th 2007, 5:37 am
#5
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Location: Bull Creek
Posts: 164
Re: getting a mortgage when new in business
Does anyone know of any companies that would be willing to give a mortgage to someone who has been here 9 months and in business for 6? The business has been established for years and is very profitable. I've been offered a mortgage if I put 30% down but this would leave things a bit tight. I have $100,000 to put down so I'm surely not a big risk? I need about $250,000. Any ideas?
What is your visa status? If you've got PR you can readily borrow 95% of the property value. Without a permanent visa you'll be limited to 80% or less.
Cheers
Bob
Aug 27th 2007, 7:28 am
#6
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Re: getting a mortgage when new in business
I have my PR, getting a loan from Oz is no major issue but I love to get a loan from the UK at a lesser interest rate.
Aug 27th 2007, 8:44 am
#7
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Re: getting a mortgage when new in business
I do have pr and I could get a 95% mortgage if I had a regular job. It's the fact that I am self-employed that is the bug-bear.
Aug 28th 2007, 5:38 am
#8
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Location: Bull Creek
Posts: 164
Re: getting a mortgage when new in business
To contact a Mortgage Broker look in the yellow pages, google or just pm me or email me on bobj at mortgagestoday dot com dot au
Cheers
Bob Johnson
Mortgage Broker
Aug 28th 2007, 6:32 am
#9
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Joined: Jun 2007
Posts: 8,913
Re: getting a mortgage when new in business
Does anyone know of any companies that would be willing to give a mortgage to someone who has been here 9 months and in business for 6? The business has been established for years and is very profitable. I've been offered a mortgage if I put 30% down but this would leave things a bit tight. I have $100,000 to put down so I'm surely not a big risk? I need about $250,000. Any ideas?
