A chattel mortgage is similar in arrangement to a hire purchase but with specific GST benefits. In certain circumstances a chattel mortgage will allow the entire GST proportion to be claimed in the first BAS period after purchase.
With a Chattel mortgage, the loan structure can be tailored in a similar fashion to a CHP or finance lease.
Can i get a Chattel Mortgage using Low doc policy?
It is possible to get a chattel mortgage using low doc policy. This can only be found with a hand full of lenders, and it is not well known that this product does existing.
When taking out a Chattel Mortgage, should i speak to my accountant before hand?
If you were to approach us for a chattel mortgage, we strongly advise you or any potential borrower to discuss the finance product with your accountant before they apply! This is because your accountant should know what best tax benefits will work for you using a specific finance product. At Mortgage Providers, we know which lenders offer the best and most competitive products, but we do not advise which finance option to take.