SME Blog & News

Buy a property in the snow – your own piece of heaven!

It’s getting colder and that means it’s nearly the Snow Season.

Have you ever thought about buying a property in one of the Alpine Resorts?

With a Snow Lease property, you can buy your very own piece of the snow field action and potentially earn great income as well.

So, what is a Snow Lease Property?

All residential properties in Alpine areas of Victoria (and NSW) such as Mount Buller, Mount Hotham, Falls Creek and Thredbo are located on Crown Land.  Property ownership is held via Sub Lease (usually 50 years) from the respective Management Board such as the Mount Hotham Alpine Resort Management Board, Mount Buller and Falls Creek Resort Management boards etc.

These Boards effectively act as the local council providing the usual council services.

Ownership of the property via a Snow Lease is secure but not the same as the Torrens system of property ownership.

In periods where you’re not occupying the property a real estate agent can arrange for your property to be looked after and leased out on a short-term basis.

Can you secure finance?

Finding a Bank specialist to finance this sort of property is very difficult and some Banks don’t even lend against this type of property or only provide funding at a 50% or 60% LVR (Loan to valuation Ratio).

This often means that Purchasers have to provide extra security against their home or come up with 50% cash equity – making things much more difficult and complicated than they need to be.

We can help!

SME has lenders on panel who can assist with your snow property. Last year we found a great solution for one of our existing clients when we funded a purchase of a snow lease property for $1.5m at an 80% Loan to Valuation ratio (LVR).

Our client was wrapped and now enjoys a prime property at Mt. Buller each snow season.

Book a FREE consultation with our property expert Brendan Barry-Murphy:

Phone: 0424 919 193 / (03) 8825 8888

Email This email address is being protected from spambots. You need JavaScript enabled to view it.

 

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