How the mortgages work?
The product is very easy and straightforward and can be summarised as follows:
- Loans settled within days, not weeks or months (similar to most short term lenders).
- Loan amounts from $10,000 upwards
- LVRs are 55-80% depending on security.
- Sydney Metro, Wollongong, Newcastle and Penrith areas.
- First mortgage security only.
- Lending on industrial all the way through to residential. This includes construction/rehabilitation.
- Interest rates of 9-17% per annum (Interest rates are well below that of other bridging financiers).
- No upfront fees to do an initial inspection of your security.
- Due diligence fee of minimum $550 plus valuation costs. This is not refundable.
- Loan terms of 3 months to 15 years.
- Interest can be paid monthly or pre-paid and capitalised.
- Please note that loans are not available to private individuals or owner occupied residential properties.
* Settlement times may vary depending on restrictions of valuation and documentation provided by the borrower.