Over 50's accommodation loans
Complexes catering for senior Australians have become highly sought after as our population ages. Investors have been quick to take advantage of the secure rent and long term demand for this type of accommodation.
Lenders on the other hand have been reluctant to lend with this type of property as security because of the perceived higher risk.
Manufactures home parks / caravan parks
No lender in Australia can use a manufactured home in a leasehold park, caravan park or over 50's village as security for a loan. Some people choose to use a personal loan however in most cases the loan is limited to $30,000 and the repayments are too high due to the shorter loan term. Typically the repayments for a $30,000 personal loan will be around $685 / month over 5 years.
You may be able to finance your purchase with a mortgage if you can use another property you own as security using our competitive equity loan or if you use a family member's property as security for a guarantor loan. In some cases the guarantor loan will be modified so that your relative obtains the loan and then on lends the money to you.
Where to from here?
- Take a look at our Frequently Asked Questions (FAQ).
- See if you meet our Lender Guidelines.
- Read about our popular equity loans or guarantor loans.
- Send us your full details to get an obligation free quote.
- Download our Transportable Home Finance brochure.
For leasehold land you need other real estate or a guarantor to qualify for a normal loan.
