Alternative Income Residential Loan Facilities

Who is this for?
Uncoded Loans – Business Purposes – Non NCCP Loans

LVR:
Up to 70% LVR

Terms:
Up to 12 months

Rates From:
7.95% p.a.

Zoning:
Residential Zoned Security Properties and Vacant Land

Geographical Limitations to:
The Eastern Seaboard of Australia risk category 1&2 only

Borrowing Entities:
Companies and Trusts

Purpose:
Purchase / Refinance / Consolidation / Equity Takeout
Business or Investment

Servicing Requirements:
Provision of Accountant’s Letter Only

Clawbacks:
Not Applicable as no trailer income is paid

Credit Impairments:
On a case-by-case basis

Lenders Settlement:
1.1% from settlement

Union Fidelity:
1.1% from settlement. 0.1% of loan amount Processing Fee. (min $990)

Introducing Broker:
1.1% from settlement

Valuations:
Valuations will be undertaken on a cost basis through PRP or Corelogic
All valuations will be undertaken on the basis that the property is readily salable within a 6 month period.

Unacceptable Securities
Petrol Stations and Service Centres, Contaminated Sites, Schools, Places of Worship or Religious Connotations, Childcare Centres,  Marinas, Nursing Homes

Legal Fees
Std Fees From $TBA