Stratum Title - Which Lenders ?

LCatubet on 12/09/2019 - 18:41

Hi, does anyone know which banks/ lenders do loans for Stratum title units in Victoria , as my bank NAB doesn’t even with 25% deposit.

Any help appreciated.

Thanks

Comments

sweefu on 12/09/2019 - 21:04

Broker here.

Just finalised a stratum title with ING. ANZ can possibly assist also.
- Catubet on 13/09/2019 - 05:27
  
  can i ask interest rate for ING,might pm you if you are broker
  - sweefu on 13/09/2019 - 08:41
    
    ING is at 3.23% variable
    - Catubet on 13/09/2019 - 10:51
      
      As have been reader of OzBargain but not member until yesterday i need to wait a day before i can PM you to discuss loan
PeterRabbit on 12/09/2019 - 21:08

I had the same issue with you before where a lender (HSBC) refused to process my loan application due to the “Stratum” title. I went with Suncorp and had no issue obtaining the loan, but be aware they would hike up the rate once you are no longer the “new” customer. Now I am with CommBank, happy with them so far.
- Catubet on 13/09/2019 - 05:30
  
  Thanks
Zippy135 on 12/09/2019 - 22:36

My friend is in the same position and is going through Bendigo Bank
- Catubet on 13/09/2019 - 05:30
  
  Thanks
Catubet on 13/09/2019 - 05:23

Thank you, will look at these lenders, Are rates competitive or do you pay premium for niche product?
- sweefu on 13/09/2019 - 08:52
  
  If a lender accepts a stratum title, they should not charge a premium for it.
  
  So it's really down to assessing the lenders that will accept the stratum title and comparing interest rates and fees.
  
  I would personally start with ING