Basic Product Terms
· Minimum loan $50,000 Maximum loan $1,000,000
· Minimum term 1 month - Maximum term 9 months
· 1st or 2nd Mortgages & Caveat Loans
· Max LVR - up to 80% for municipal residential property;
- up to 70 % for commercial or industrial property
· Rates are determined by loan size, LVR, property type and location. Indicative rates are as follows;
- 1St Mortgages from 1.5% per month
- 2nd Mortgages from 3% per month
- Application Fees (paid on settlement) .
- $50,000 to $100,000 = $2,500
- $100,000 to $250,000 = $5,000
- Over $250,000 = Minimum 2% of loan amount
- Legal fees $1650 plus disbursements
- Valuations at cost
- Other terms and conditions may apply depending on the structure of the deal. There may be times we will look outside these terms.
Easy Qualification Process
1.Tell us why you want the money?
e.g. bridging, tax debt, development or debt consolidation
2.How will it be repaid?
e.g. Sale of Property, Refinance or Sale of other assets
3. What security do you have?
For Scenarios please call 1300 654 355 or email us or complete an application form and supply the below documentation
Documentation Required
· Signed Application Form
· 100 points ID
· Recent Rates Notice or copy of Certificate of Title
· 2 utility bills to the borrower(s) home address(es)
· For commercial loans a copy of the Company Registration Certificate
· 6 months most recent mortgage statement - all security properties
· 3 months most recent bank statement for the borrower's everyday account for each applicant
· PROOF OF EXIT
o Letter of offer to refinance
o Contract of sale of property or other asset
Watch out!
There are lenders that charge up-front fees payable upon signing an Offer Letter. Be very careful. An Offer Letter is no guarantee of finance. If your client pays a fee and signs an Offer Letter they may lose the fee with no guarantee of finance. Once they sign an Offer Letter they may also be liable for other costs and the lender may be able to recover these by caveating the property. Responsible lenders do not charge large set-up or admin fees.
NO LOAN - NO FEE
Although we don't charge up-front fees, if an application is complex or borderline, we may request and administration fee to cover our time and cost of searches.