It may be tougher to get finance for a property investment purchase, but it’s still possible to have one.
• As Banks become more cautious about deals, coupled with LVR restrictions, some investors find it very hard to get a loan.
• Property investors unable to borrow money from mainstream banks are turning to second-tier lenders to bridge the gap.
• Non-bank lenders & finance companies such as Liberty Financial, General Finance, Gold Band Finance & First Mortgage Trust are the places where investors turn to for they operate outside the Reserve Bank rules.
• However, APIA president Andrew Bruce urged caution for those who were determined to buy outside the bank rules.
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