Is Community Title Acceptable As Security By Mortgage House?

To finance a home purchase, lenders ask applicants to provide a 20% down payment. When the down payment is not available lenders like Mortgage House do accept collateral to secure the financing. Property titles are a form of collateral. Sometimes, Mortgage House accepts a property title as security. Among the title types we consider is the community title.

Three factors that make up a title are ownership, occupation, and right of possession. Our loan specialists check the title status before accepting it as collateral. 

A community title means that one document covers two or more lots connected by a shared driveway or land used for recreation. This title also covers a plot of land with several residences or retail outlets. Community titles became more common in Australia after 1989. They have staying power and credibility behind them.

Real estate offers several benefits, and there are also inherent risks. Our job is to assess the risk posed by an applicant and their collateral. Our forward-thinking mindset and innovative tools allow us to give each application the attention it deserves. We’ll evaluate the title and the application and deliver a decision promptly.  

If the community title is not enough collateral, we’ll explore additional possible solutions with you.

Community Title Conclusion

Mortgage House works with clients who require alternative ways to secure home loan financing through mortgage choice. We accept a community title as collateral. One of our loan specialists walks through the process with you to ensure there is enough value in the title’s property. For more information, contact us today.