Low Doc Rural Loan Facilities

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

LVR:
Up to 60% LVR

Terms:
1-15 year loan terms – Commercial Rural
Interest Only for up to 5 years followed by P&I for up to 25 years – Rural residential

Rates From:
7.99% to 10.25%

Zoning:
Rural Residential are defined as Less than 100 Acres and not income producing
Rural Securities are from 100 Acres + being income producing

Geographical Limitations to:
The Eastern Seaboard of Australia

Borrowing Entities:
Companies and Trusts for Commercial Rural
Individuals and Companies and Trusts for Rural residential

Qualifying Rate Stress:
2% Above Effective Rate

Purpose:
Purchase / Refinance / Consolidation
Business or Investment

Servicing Requirements:
Accountant’s Letter (click here) & 6 months bank statements + 6 months repayment history on all credit facilities being paid out or not

Clawbacks:
Not Applicable as no trailer income is paid

Credit Impairments:
On a case-by-case basis

Lenders Settlement:
1-1.25% from settlement
Union Fidelity:
1.1% from settlement. 0.1% of loan amount Processing Fee. (min $1050)

Introducing Broker:
1.1% from settlement

Valuations:
Valuations will be undertaken on the basis of land + fixed non-specialised buildings excluding chattels, crops, irrigation, water allocation.
All valuations will be undertaken on the basis that the property is readily salable within a 6 month period.

Legal Fees
Std Fees From $800 with no existing mortgage