| PURPOSE |
Investment, debt consolidation, refinancing and a wide range of business purposes.
All loans must be non coded.
No mortgage insurance
No Construction |
| LOAN TERM |
2 to 5 Years |
| LOAN SIZE |
$100,000 - $5,000,000 |
| L.V.R. |
75% in most metro areas, 70% regional centres |
| INTENDED USE |
Investor or Owner-occupier |
| REPAYMENT OPTIONS |
Interest Only (IO) |
| ACCEPTABLE SECURITY |
Residential, commercial, retail and industrial real estate in metropolitan, outer metropolitan
areas and major regional centres in all states.
1st mortgage only.
1st party mortgagor/borrower preferred.
Directors’ guarantees to support company borrower.
Group guarantees to support company borrowers where appropriate.
Floating charge from company borrower may be required if security is owner occupied.
Some properties of a specialised nature eg. hotels, motels and retirement villages are not acceptable security. |
| ACCOUNT KEEPING FEE |
No Monthly Account Keeping Fee |
| ADDITIONAL REPAYMENTS |
Principal repayments may be made during the term. Repayments other than at maturity or as agreed on approval will be subject to prepayment fees. |
| SPLIT LOANS |
Yes, maximum of 3 splits |
| LOCATION |
All metro and category 1 areas and regional centres. |
| STATEMENTS |
1/2 Yearly |
| REQUIRED BORROWING INFORMATION |
Serviceability should be demonstrated and evidenced from one or more of the following:
– Taxation returns
– PAYG statements
– Financial statements
– Cash flow projections
– External accountant assessment of borrower’s debt servicing capability
For loans where repayment is to come from sale of the security property or other identified and
acceptable sources, and where regular cash flow will not support borrowings, interest retention for the term of the loan may be considered. Interest retention is invested in the borrower’s name in the Mortgage Trust Fund, |
| OUT OF THE BOX |
Child Care Centres - Purpose built (60% LVR)
Child Care Centres - Not Purpose built (70% LVR)
Service Stations (Clear EPA Report (60% LVR)
Sepp 5 (unique to NSW delevopers stock only) 70%LVR
Residual Stock Loans - Units/townhouses/commercial/Industrial 65% LVR |
| UNACCEPTABLE SPECIALISED PROPERTIES |
Rural Properties, Quarries, Retirement Villages, Vineyard/Wineries, Tanneries, Funeral Parlours, Brewies, Schools, Service Stations, Abattoirs, Company title, Brick works, Saw Mills, Places of Worship, Mills, Ice Works / Cold Stores, Transport Depots, Clubs, Gasworks, Marinas, Roadhouses, Theatres/Film Studios, Theme Parks, Laboratories, Foundaries, Contaminated Sites, Time share. |
| BORROWERS LEGAL EXPENSES |
At Borrowers expense |
| LENDERS LEGAL EXPENSES |
At Borrowers expense |
| VALUATION EXPENSE |
At Borrowers expense |
| ESTABLISHMENT FEE |
1% plus GST or $1,500 whichever is the greater. 0.22% Admin fee per annum paid 6 monthly |
