| CLIENT PROFILE - CAVEAT LOANS |
Caveat loans are generally taken out by people who need access to cash quickly and over a short period of time. Generally no longer than 3 - 4 months.
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| PRODUCT DESCRIPTION |
Caveat Loans can genuinely be settled within 48 hours, as we do not require sworn valuations. They are generally taken out by people who need access to funds very quickly (over a short time of generally no longer than 3 to 4 months). Money is lent for any worthwhile commercial or investment purpose. In addition, we are able to lend money on property located anywhere in Australia!.
t the applicants income or credit history is not looked at... we simply look at the equity in the real estate being offered as security. We will lend for any worthwhile business or investment purpose, as long as there is enough equity in the property (our max LVR is 75%), and as long as there is an Exit Strategy. (i.e.: sale of the property, refinance, or payment from a trade debtor, etc) |
| REQUIREMENTS |
You must have equity in a piece of real estate. With our loan added to other mortgages and caveats that may be on the title, the LVR (Loan to Valuation Ratio) needs to be 75% or less.
You need to have an EXIT STRATEGY. This means, you need to be able to show how you plan to pay the loan back within a period of no more than 3 months. (Eg: through the sale of a property or refinancing, etc)
Caveat Loans must be for genuine Business or Investment Purposes.
Best of all, with the short term Caveat loans, you don't have to make monthly interest payments. The interest is paid back in one go at the end of the loan term, along with the principal.
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| CLIENT PROFILE - 2ND MORTGAGE |
2nd Mortgages are generally taken out by people who need access to cash quickly and over a medium period of time. Generally no longer than 12 - 24 months. |
| PRODUCT DESCRIPTION |
2nd mortgages can usually be settled within 4 weeks of receiving all relevant information. This is because we do need a sworn valuation and approval from the 1st mortgagee. They are generally taken out by people who need access to funds very quickly (over a medium time of generally no longer than 12 - 24 months). Money is lent for any worthwhile commercial or investment purpose.
The applicants income or credit history is not generally looked at... we simply look at the equity in the real estate being offered as security. We will lend for any worthwhile business or investment purpose, as long as there is enough equity in the property (our max LVR is 80%), and as long as there is an Exit Strategy. (i.e.: sale of the property, refinance, or payment from a trade debtor, etc)
|
| REQUIREMENTS |
You must have equity in a piece of real estate. With our loan added to other mortgages and caveats that may be on the title, the LVR (Loan to Valuation Ratio) needs to be 80% or less.
You need to have an EXIT STRATEGY. This means, you need to be able to show how you plan to pay the loan back within a period of no more than 12 - 24 months. (Eg: through the sale of a property or refinancing, etc)
2nd mortgages must be for genuine Business or Investment Purposes.
You are required to make monthly interest payments along the way. |
| INTENDED USE |
Investor or Business purposes only |
| LOCATION |
All metro and category 1 areas. |
| BORROWERS LEGAL EXPENSES |
At Borrowers expense |
| LENDERS LEGAL EXPENSES |
At Borrowers expense |
| VALUATION EXPENSE |
$440 payable on application |
| APPLICATION FEE |
3% plus GST or $3,000 whichever is the greater. |
