Property Types
Types of Properties We Finance at OzBroker
At OzBroker, we specialise in aligning your unique property with the ideal lender.
Streamlined Specialist Property Home Loans!
Each financial institution has their own criteria for the property types they finance. The key to a successful application is choosing a lender that aligns with your property’s profile.
OzBroker’s Expertise in Home Loan Approval
Unlike typical mortgage brokers, we’re seasoned in securing approvals for a broad range of properties. If you’re looking to finance a service apartment, company title unit, duplex, rural property, or even a flood zone property, we’re here to navigate the best lending options for you.
Diverse Property Financing Options
- Inner city units
- Studio apartments
- Vacant land
- Specific postcode areas
- Units purchased off the plan
- Owner-builder constructions
- Warehouse conversions
- Heritage properties
- Multiple unit properties
- High-end residential properties
- Hotel to residential conversions
- Properties in mining regions
- Student housing
- Properties with rental guarantees
- Flood zone properties
- Various title types including company and stratum titles
- Renovation projects
- Second mortgages
- Countryside homes
- Duplexes or dual occupancies
- Dual key apartments
- Large rural estates
- …and many more!
Bank Assessment Criteria
Banks assess properties based on factors like Loan to Value Ratio (LVR), saleability, value stability, and legal complexities. At OzBroker, we understand these criteria deeply and prepare your application to meet these expectations.
LVR Considerations
The LVR, or the loan amount relative to the property’s value, varies based on the property’s risk profile. We guide you through the possibilities, whether it’s a standard property or a unique one requiring a lower LVR.
Saleability and Value Stability
Properties that are harder to sell or fluctuate in value pose a higher risk to lenders. Our expertise lies in presenting these properties in a manner that aligns with lender expectations.
Navigating Legal Complexities
Some properties, like company title units, may have unique legal considerations. We excel in presenting these cases compellingly to lenders.
Address-Specific Lending Policies
Provide us with the property address you’re interested in, and we’ll tailor our search to identify the most suitable lender and their specific policies for your property.
Two Types of Property Valuations
- In Scope: A quicker valuation method preferred by banks for residential properties.
- Out of Scope: A more detailed valuation, often used for commercial properties and residential properties with unique features.
Valuation Methods and Considerations
- Highest and Best Use: Focused on the property’s potential based on current zoning and planning rules.
- Market Evidence and Comparability: Relies on actual sales data of similar properties, adjusting for differences.
Need OzBroker’s Expert Assistance?
Our team, with backgrounds in various financial institutions, is adept at securing loans for unique properties. Reach out to us online, and let our mortgage brokers assist you in finding the perfect loan for your property purchase.