Quick answer
Ownright Custom Finance is based in Knoxfield and arranges difficult home loans, private first and second mortgages, bridging, commercial and business finance for Melbourne borrowers. We cover the inner city, the south-east, the growth corridors and the Yarra Valley and Peninsula fringe, with a focus on deals that standard bank policy won't handle.
Key points
- Head office on Ferntree Gully Road in Knoxfield, in Melbourne's outer east
- Experience with self-employed, investor and developer cases across all Melbourne regions
- Bridging and second mortgages for auctions, settlements and short windows
- Industrial, retail and mixed-use finance for Melbourne's commercial precincts
- Office
- Ground Floor, Suite 6, 1488 Ferntree Gully Rd, Knoxfield VIC 3180
- Phone
- 03 7043 7233
- Suits
- Melbourne buyers, owners and businesses with complex or time-sensitive deals
- Australia-wide
- Yes
Why talk to a Melbourne broker about difficult finance?
Because Melbourne isn’t one market. It is a patchwork of inner-city apartments and terraces, middle-ring family suburbs, outer growth areas still being subdivided, industrial belts that feed the port and the airport, and semi-rural fringes where horse paddocks sit next to estates. Lenders treat each differently, and what one calls standard another calls out of policy.
Ownright Custom Finance works out of Knoxfield, in the eastern foothills of the Dandenongs, and director Trevor Scott has spent over 40 years in finance. We have a practical feel for how Melbourne deals unfold, and we’re comfortable working with the awkward ones. This page is about that.
What does each side of Melbourne throw up?
The inner city and inner suburbs
High values, tight auction timelines and a lot of self-employed buyers. Typical finance needs include bridging between settlement dates, equity release from a strong property, and refinance after a bank changes its view of a borrower. See bridging finance and self-employed home loans.
The south-east: Dandenong, Casey and the Knoxfield corridor
A large industrial base, many small and medium businesses, a lot of tradies and owner-drivers, and a mix of established and new housing. Our own backyard. Typical needs are commercial property loans, industrial property loans, trade and contractor loans and home loans for contractors.
The east and the Eastern Ranges
Established family suburbs, lifestyle blocks in the foothills and the Yarra Valley, and properties with sloping land, bushfire overlays or unusual titles that make some lenders nervous. See lifestyle and hobby farm loans and difficult home loans.
The north and west growth corridors
Fast-growing suburbs with new builds, house-and-land packages, small developers and owner-builders. Common needs include construction loans, land and construction loans and short-term funds while building. The guide on construction loan progress payments helps explain how drawdowns work.
The Peninsula and the fringe
Holiday homes, small farms, vineyards and hospitality businesses. Seasonal income and tourism patterns need careful presentation.
How do auctions and tight settlements work with private finance?
A Melbourne auction is unconditional, and the successful bidder usually needs to pay a deposit on the day and settle within a short period. That is fine when finance is in place and stressful when it isn’t. Common situations that lead people to us:
- A buyer’s own property hasn’t sold, and the bank won’t lend on both.
- A bank valuation comes in below the contract price, leaving a gap.
- A lender withdraws or delays just before settlement.
- A self-employed buyer’s documents don’t satisfy the lender’s checklist.
Each of these may have solutions, such as bridging, a fast second mortgage or a switch to a different lender. Time frames depend on the lender, the security and how quickly documents arrive, and we will tell you honestly if a date looks too tight. The guide on how fast private lending can settle goes into more detail.
What is the paperwork like?
Victoria’s land transfer duty is administered by the State Revenue Office. It’s a purchase and transfer cost, so it matters on buying, certain title changes and some separations. Titles are held on the Victorian register through Land Use Victoria, and mortgages and caveats are lodged electronically. If you want to learn more about caveats, see caveat loans explained.
Melbourne properties sometimes come with extras that lenders need to understand: owners corporation arrangements on apartments and townhouses, heritage overlays, flood or bushfire overlays, and unusual easements. Sharing the owners corporation certificate or planning information early speeds things up.
What commercial deals does Melbourne produce?
Melbourne’s commercial market spans CBD offices, suburban retail strips, large industrial estates in the south-east, west and north, and mixed-use buildings with a café below and apartments above. Lenders judge them on tenant quality, lease length, building type and alternative use. For owner-occupiers, the business’s trading record also matters. Our pages on retail property loans, mixed-use property loans, commercial construction loans and development finance explain the criteria.
Who this suits
Melburnians with a clear plan and a roadblock: self-employed owners, investors with portfolios that have outgrown one lender, developers with a first or second project, families with equity but patchy credit, and small businesses using property as security. If you can walk into a bank and get exactly what you want, you may not need us. If the bank has said no, or you suspect it will, a conversation is a good next step.
What lenders look at on a Melbourne deal
| Item | Detail |
|---|---|
| Security | Type, location, saleability, any overlays or owners corporation issues |
| Borrower profile | Income, trading history, credit conduct |
| Purpose | Purchase, refinance, equity release, construction or consolidation |
| Debt position | Existing loans, tax debts, arrears |
| Exit or repayment | Especially for short-term or private lending |
An illustrative scenario
A self-employed electrician in Melbourne’s south-east wants to buy a home. Their tax returns lag behind actual trading because of a recent growth spurt, and a bank has declined based on last year’s lower figures. A lender who accepts alternative documents, or a private first mortgage with a plan to refinance later, might be an option. Illustrative only: each file is different.
How does Ownright help?
We start with a proper conversation, then lay out the choices in plain English, including the downsides. Ownright is about finding solutions, including ones few brokers know exist. We then prepare the application so lenders see the strengths. If you’d like to see whether we can help, tell us about your deal.
What does a Melbourne owners corporation or overlay change?
Melbourne has an enormous stock of townhouses and apartments, and behind each is an owners corporation with its own budget, rules and sometimes a record of defects or large pending works. Lenders can ask for the owners corporation certificate, and some restrict lending on small apartments, certain developments or buildings with cladding or structural concerns. Special levies for major repairs can also affect the buyer’s cash position.
Planning overlays are the other quiet factor: heritage controls, bushfire management and flood overlays can limit what can be built or renovated, and they influence insurance and value. If you are buying, refinancing or building, it pays to collect the relevant certificate or planning information early, so a surprise doesn’t derail a settlement. Where a lender is nervous about a building, we can look for others who aren’t, or consider a private first mortgage with a plan to refinance once the position settles. Read what a private mortgage is if you’d like the fundamentals.
Does Melbourne’s rental and investor market complicate lending?
Melbourne has a large investor population, and many hold several properties across different suburbs and lenders. When one lender tightens, a portfolio can suddenly look overextended. A clear schedule of each property, its value, loan and rent lets us see where a refinance, a restructure or a short-term facility might relieve pressure. Investors with a vacancy, a major repair or a tenant dispute can also benefit from a short-term facility that carries them through while the property returns to normal trading. See investment property loans for more.
Mistakes to avoid
- Bidding at auction before the finance path is settled.
- Applying to several lenders and leaving multiple credit enquiries.
- Overlooking owners corporation costs and certificates.
- Ignoring a tax debt that will turn up in the lender’s checks.
- Waiting until a deadline is days away.
Documents to have ready
ID, recent bank statements, tax returns and assessments, BAS or accountant letters for self-employed borrowers, a schedule of assets and liabilities, the contract of sale or property details, and any lender correspondence.
Pop in, call or send details
We are on Ferntree Gully Road in Knoxfield and reachable on 03 7043 7233. If you prefer, send your details online and we will come back to you. If Ownright can’t find the solution, no one can.
How it works, step by step
- 1
Step 1
Call or send an enquiry with the basics: the property, what you need and by when.
- 2
Step 2
We review the options, from non-bank to private, and explain the trade-offs.
- 3
Step 3
We prepare and submit the application, with explanations for anything unusual.
- 4
Step 4
We follow the deal through valuation, contracts and settlement.
Frequently asked questions
Where is Ownright's Melbourne office?
Our head office is Ground Floor, Suite 6, 1488 Ferntree Gully Rd, Knoxfield VIC 3180, and the phone number is 03 7043 7233. Much of our work is done by phone, email and secure document sharing, so you can deal with us from anywhere in Melbourne without travelling.
Can you help with an auction purchase in Melbourne?
We can talk through finance options before auction, including pre-approval style conversations, bridging if a sale hasn't completed, and short-term finance. Auction purchases are unconditional, so planning the finance path beforehand matters. We can't guarantee approval, but we can be honest about what is realistic.
Do you finance Melbourne industrial and warehouse property?
Yes. Melbourne's south-east, west and north industrial areas have plenty of owner-occupied and investment industrial property. Lenders look at the tenant, the lease, the building and the location. We arrange purchases and refinances, and can look at short-term options where a quick solution is needed.
Is land transfer duty payable on a Melbourne refinance?
Generally no, because a refinance with the same owners isn't a transfer of the property. Purchases and some ownership changes are different. The State Revenue Office Victoria publishes the rules, including concessions, and your conveyancer can confirm how they apply to you.
What if I am self-employed with unfinished tax returns?
Many Melbourne tradies, consultants and business owners are in this position. Some lenders accept alternative documents such as BAS statements, accountant letters or bank statements, and others consider private lending. We help work out which route suits the paperwork you actually have.
Can you help with a home-and-land or development project?
We arrange construction and development finance, including for first-time developers. Lenders look at the builder, the plans, costs, pre-sales and the borrower's experience. Our development finance pages explain the usual criteria, and we can tailor the approach to your project.