Will Mortgage House Accept a Converted Warehouse as Security for a Mortgage Loan?
The Australian housing market provides several opportunities to savvy homebuyers and investors. Australia continues to see the addition of new accommodation types. The converted warehouse is one new type. Cities often have both residential and industrial zoning. They’re kept separate, but cities need both to thrive.
The industrial zoning areas provide tax revenue for the services provided to the residential areas. Since the economy runs in cycles, industries experience lulls that lead to empty warehouses and other spaces. We know that empty warehouses cause unwanted issues for cities, so investors have started turning them into lofts and other living spaces.
Financing a warehouse conversion is a challenge because lenders see it as high risk. Zoning, location, and safety play a role. Using it as collateral poses a challenge, too. Rest assured that at Mortgage House, we’re forward-thinking lending professionals who are happy to partner with entrepreneurs and investors. We’re willing to work with you on projects that have a promising future. Our tools allow us to evaluate opportunities promptly. As non-bank lenders, we have the freedom to take on higher risks than banks.
If you want to present a converted warehouse as collateral to secure another loan, we’ll take your application and assess the situation.
Converted Warehouse Conclusion
At Mortgage House, we work with clients interested in using a converted warehouse as collateral to secure a home loan. It’s a proposition we’re willing to consider and evaluate. Once we reach a decision, we communicate the details with you. For more information, contact our loan specialists.