Product Summary
The following is intended only as a guide to our product and should be viewed as indicative. We reserve the right to quote terms and rates on an individual application basis.
Loan Amount
- Minimum $500,000
- Maximum $10,000,000
- Submissions outside these amounts will be considered on their merits.
Purpose Non-Regulated Only
- Construction
- Bridging
- Refinance
- Purchases
LVR
- 1st Mortgage Maximum 75% of Gross realisable value of security.
- General Guidelines for 1st Mortgage Lending:
- Residential 75%
- Commercial 75%
- Construction up to 75% of Gross Realisable Value
- Vacant Land 50 – 70%
- Specialised Security On its merits
Terms
- 6 – 24 months Interest only
Fees
- Establishment Fee 1.25% to 2%
- Legals Included in Establishment Fee (excluding Govt costs)
- Management Included in interest rates quoted
Security
- Registered mortgages over Freehold Real Estate i.e. Land and/or Buildings.
- If a corporate borrower, Fixed & Floating Charge over the company.
- Directors guarantees.
Time Frames
- Assessment - We can usually give an indication over the phone as to the likelihood of the loan being approved. Following that, we can provide a letter of offer within 48 hours of receiving all relevant information (see Application Information for information required).
Settlement – General - Documents within 72 hours from initial instructions. Settlement from 7 days of final approval (typically up to 14 days).