A consortium is a company of two or more persons that contribute finances to complete a project.

Generally a consortium will finance a housing development and gain approval for the NRAS on all properties within the development. Investors then buy those properties from the consortium.

However, depending on the consortium that you are buying the property off, you may have difficulty obtaining a loan.

How much can I borrow?

This largely depends on the structure of your consortium. However, we know major lenders that will allow you to borrow up to 90% of the property value!

Note that lending guidelines change on a regular basis and some lenders have strict lending criteria.

To find out if you are eligible for an NRAS mortgage for up to 90% LVR, contact us on 1300 885 102 or enquire online today!

Which consortiums are accepted by the banks?

We know major banks that will allow you to finance the purchase of your NRAS from various consortiums. Most will allow you to borrow up to 90% of the property value.

Approved Non-Entity Joint Venture Consortiums

The following consortiums can be accepted by one of the major banks:

• Affordable Management Corporation (AMC)
• Yaran
• Quantum Housing Group (QHG)
• Aspire
• Questus
• Ethan Affordable Housing.
• 4 Walls Ltd
• Questus
• Urban Affordable Housing Association (UAHA)

To find out whether your application will be approved, please call us on 1300 885 102 or enquire online and speak to one of our mortgage brokers who will help you with your NRAS loan application.

Approved Head Lease Structured Consortiums

If this is the legal structure of your consortium, some of the major banks may accept your loan when purchasing from the following consortiums:

• Queensland Affordable Housing Corporation (QAHC)
• Brisbane Housing Company (BHC)
• Providence Housing Pty Ltd

Some banks will allow you to borrow up to 90% of the property value, when buying an NRAS approved dwelling from these consortiums.

Contact us today!

To find out how you can get approval to finance the purchase of a property under the NRAS, call us today on 1300 885 102 or enquire online and our expert mortgage brokers will contact you to discuss your situation.