TEL: 1300 55 17 30

Our Caveat Loans.... sometimes known as 2nd Mortgages


•  We require a completed Application Form, a rates notice and a recent mortgage statement.

• Once received, we will issue an approval with 2 working hours.

• Once the approval letter is signed and all the conditions are met, and the small acceptance fee is paid, we
  will complete the due diligence and then instruct our in-house legal person to prepare loan contracts.
These take around 2 working hours.

• The client must sign loan contracts in front of their own solicitor.

• Original signed loan contracts must be dropped back to our solicitors (in the applicable state), then
  settlement can take place.

• We TT funds directly into the clients bank account.

• Interest rate: 4% pcm. (no hidden monthly fee's or "from's". We just tell it like it is. No ticks, and no traps)

• Max LVR is 75% for residential. 65% on commercial. Rural 50%.

• We lend in all states.

Things you need to know….

• We can’t pay loan proceeds into a 3rd party account.

• Loans must be for genuine business or commercial investment purpose. Evidence of the purpose will be required… in accordance with new laws introduced in 2010.

• Borrowers have to have an exit strategy that we can verify. (this means, how you will pay the loan back)

• We can’t go behind a current 2nd mortgage or caveat... however we can pay a 2nd mortgage or caveat

• All people on title must sign loan contracts.

• We must be able to pay any mortgage arrears and body corporate or rates arrears (if applicable) out of
the loan proceeds.

• We do not accept Powers Of Attorney.

• If we can’t get a firm handle on the property value, we may need to do a valuation at the borrower’s expense. This
  is rare, but will happen if sales are low in the area.

• If a property is cross-collateralised, we must take all properties that are crossed

Apply Today & Settle Tomorrow

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