Thanks Paul (and Shahin).
I believe that the unit block, being on a single title is a single aquirable asset. We have no intention of strata titling the units down the track, so they will remain on a single title. It appears that our lender is ok with this. I don't suppose there's a link...
Thanks Terry W. Have emailed my SMSF guy but I wasn't of the opinion that I would be in breach, as we weren't planning on strata titling them. I just might sleep a little better now while I await his reply. :-)
Thanks Shahin. There are 6 in a line and forgot to mention (and just to complicate things), it's being purchased in our SMSF. All good with the LVR (65%) .From your experience, what 'product' would St George be likely to use? Docs state it's a 'business loan' and it will be secured by the...
Hi all, and especially mortgage brokers with commercial loan experience :-).
We are purchasing a block of units in a line (one title) and have been told that the loan needs to be on commercial terms although the units are residential units. We are going through St George and my question is...