who are our brokers and referrers?
Our loans are available only to Company Directors & Corporate Trustees of Family Trusts.
Not available to applicants who are recipients of Gov't benefits.
Not available to Directors mortgaging parent's owner-occupied home when Directors aren't already on the parent's title.
Company borrower's ideally should have a bank account statement verifying minimum 1 month of transactions.
Borrower's require 2 verifiable exit strategies i.e listing agreement for sale, uncon sales contract, loan approval etc.
Interest for the term of the loan is capitalised if accountant letter unavailable.
All loans must satisfy our fit-for-purpose test.
Brokers and Referrers can nominate their Fee up to 1.1% incl GST if no signed mandate or brokerage authority.
For Brokers and Referrers with a signed mandate or brokerage authority, the agreed amount is included in the Approval letter.
No fee's are payable upfront apart from valuation fee at cost if applicable.
Legal Fees are at cost & usually around $3,300 - higher if 24 hour funding is required. App fee of $2,950 and monthly management fees of 0.1% - 0.25% may apply and are included in the loan. Not payable upfront
When funds are urgently required to release equity behind an existing loan, and there's no time to seek consent - Settle on our Caveat!
Borrow up-to 75% of the property value(s) and choose to keep the existing bank or non-bank loan in place.
Ideal for when clients haven't sold their property and purchased a new property while still waiting for their property to sell.
When clients are about to lose their deposit and need urgent funds, this loan preserves their deposit and purchase.
When clients have 40% and more of equity in any property and need to access cash for any worthwhile purpose.
The perfect loan to bridge the gap. Three month's minimum loan term gets clients in and out fast!
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Funds avail 1st Mortgages as at 1/7/2024$m
Funds avail 2nd Mortgages as at 1/7/2024$m
Funds avail Fast Caveats as at 1/7/2024+
years Of exprience as at 1/7/2024Simply click this button or any of the apply now buttons on our website apply now and take a minute to complete the information we require.
You'll know we've received your application as an automatic email will be sent to you as confirmation.
Allow an hour or so during business hours for a manager to review the details in your app form and assess the loan for suitability.
You may receive a call to discuss additional requirements.
If our assessors are happy with the information provided, you'll receive an indicative loan approval.
Our loan applications require the following for each Director, each Guarantor and owners on the title(s):
Drivers Licence(s), Council Rates notice(s), Trust Deed(s) if applicable, bank or non-bank loan statements (can be from the internet) clearly showing borrower name(s) and loan balance(s) if applicable, Payout Amount(s) for loans or caveats that are to be paid from settlement funds if applicable.
Upon receiving your online loan application, generated when you clicked the apply now button, an assessor will review everything you have told us and if we can provide you with a loan, you'll be provided with an indicative approval letter that includes a list of items we now require to finalise our due-diligence.
Accepting our indicative approval offer letter let's us know you wish to proceed. Payment of a valuation(s) fee per property(s) offered as security will be quoted.
When you have provided the list of items requested in the indicative approval letter, our assessor will generate a conditional loan approval and send to you by email.
Often we receive requests for loan amounts less than our minimum. There is a $4,000 + GST minimum fee our loans.
The lender's legal fee is from $3,000 + GST + approx $880 in disbursements and whatever your broker charges.
It becomes expensive for lower loan amounts.
When your new loan is ready to be funded, your nominated Solicitor will be sent a loan agreement for Directors and Guarantors to sign and attend to settlement requirements.
Because its a privately funded Business loan, all Directors and Guarantors are required to have independant legal advice by a Solicitor.
Unlike home loans where you simply walk into any bank branch and sit with a manager or sign in front of any JP or Cdec, privately funded loans require a Solicitor that will fully explain the loan agreement.
The Solicitor will assist with the documentation requirements and certify identification and statements.
Your Solicitor liaises with the lender's Solicitor to finalise settlement requirements and send funds to your account.
During the term of the loan, we're here for you when you have questions or concerns about your loan.
Contact us or your lender for your loan statement requirements, variations to your loan i.e further increases in loan amount or additional loan term requirements.
When you're ready to repay the loan funds back to the lender, we'll send you our discharge request form for all Directors and Guarantors to complete.