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Non Bank Lender: 70% Low Doc Commercial Loan
Also suitable for Credit Impaired (Bad Credit) Applicants
Rates From 9.20% Variable, Fixed also available (call for current rates)
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DOES YOUR LENDER/BROKER PROVIDE YOU WITH THIS INFORMATION?
Our Fact Sheets provide in-depth information that is generally not available from any other source (INCLUDING the Lender).
They have been designed so that prospective borrowers have access to ALL of the information they need to make an informed
decision regarding the suitability of the loan to meet their requirements.
To properly evaluate a loan, we believe that full disclosure of the following information is critical to the decision making process:
- What are the loan features?
- How much will it cost to set up the loan?
- What are the interest rate options and ongoing fees?
- How much will it cost to discharge the loan?
- What documents will I need to supply to apply for this loan?
DOES YOUR LENDER/BROKER PROVIDE YOU WITH THIS INFORMATION?
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Features
FREE SERVICE - Rates, Costs and Fees are EXACTLY the same as if you had dealt with the Lender direct.
NO BAS STATEMENTS, BANK STATEMENTS or TAX RETURNS required.
Suitable for Commercial Purchases or Refinances (NON Specialised Security - ie: premises must be "multi-use").
ABN required for 6 months (GST registration required if income > $75,000). Must be self employed for at least 2 years.
Excluded Borrowers / Situations:
- Will not refinance any Loan that is subject to formal Legal proceedings.
- Will not consider undischarged Bankrupts or Borrowers in Part X arrangements.
- Will not consider Borrowers who are Directors of companies under External Administration.
"Cash Out" allowed (purpose needs to be stated, but evidence not usually required) - refer matrix below.
PAYG Co-Applicants allowed (must provide full income proof).
Postcode restrictions may apply (call if outside major Town).
Maximum loan amount in WA is limited to $500,000 per Security.
Land only loans are not allowed.
Individual Borrowers, Discretionary & Unit Trusts & Property Holding or Trading Companies.
Maximum loan Term - 2 years.
Default Policy:
- All outstanding Defaults must be paid or paid out from Loan proceeds.
- Telco / Utility Defaults (max of 2 totalling < $1,000) are ignored.
Mortgage Arrears Policy:
- Generally, no missed/late payments in last 12 months but will consider if a few days late on 1 or 2 occassions
(with written explanation).
Maximum of TWO "Splits" per Loan (more by negotiation - a fee may apply).
Funds for declared business purposes OK (not Working Capital).
Interest Ony: Always.
Other: Extra Repayments NOT allowed without penalty, Redraw NOT available.
No Genuine Savings requirements.
Minimal documentation requirements.
Fees
Valuation and Lenders Legals at Cost (Quote will be provided).
Application Fees of 1.25% of Loan Amount (Minimum $890).
No Lender's Mortgage Insurance or Risk Fees.
Ongoing Fees: $350 pa.
Government stamp duties and other government charges may apply.
Early Repayment Fees:
- $1,325 Flat Fee plus Solicitors Costs "at cost" (total should not exceed $2,250)
PLUS
Read Carefully!
- If the loan is repaid (for any reason) within the Loan Term OR a Principal Reduction is accepted prior to the
scheduled Term of the Loan, then a Fee calculated as 3 months interest calculated on the Principal reduction at the
time of repayment will apply (minimum of $300).
In all cases, Break Costs may apply if a Fixed Loan is repaid during the Fixed Term.
Paperwork you will need to provide to apply for this Loan
ALWAYS REQUIRED
A signed Income Declaration is always required.
An Accountants Letter is also required (we will supply). Accountant must sign off on an income figure.
It will ask for confirmation as follows:
- That Accountant has been your Accountant since xx/xx/xx and is your current Accountant.
- That you have applied for a loan of $x over x years with payments of $x per month at a rate of x.xx%.
- That you have stated an income of $x.
- That, based on your Accountants knowledge, you can repay the loan without substantial hardship.
- That you are a registered Tax Payer and that your Accountant assisted with most recent Tax Return.
JP Certified 100 point ID for each applicant (usually a Passport or Birth Certificate PLUS a Drivers Licence).
Full copy of Trust Deed (if applicable).
If reliant on rental income, current lease agreement OR recent managing agent statement OR letter from
real estate agent is required.
IF YOU ARE PURCHASING
Signed and dated Copy of the Contract of Sale.
Evidence that you have sufficient funds to cover the Deposit and Purchasing Costs (eg: Bank Statement).
IF YOU ARE REFINANCING
Latest Rates Notice(s) on the Property(s) being offered as Security.
Last TWELVE months Loan Statements on all Loans being refinanced. Latest statement CANNOT be older than
1 month. Some GENUINE bank statements are required (ie: cannot provide all statements as Internet printouts,
does not matter how old genuine statements are).
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CLEAR CREDIT
- Unlimited Credit enquiries.
- All outstanding Defaults must be paid or paid out from Loan proceeds.
- Telco / Utility Defaults (max of 2 totalling less than $1,000) are ignored.
- No history of Bankruptcy.
- No Mortgage arrears allowed.
MINOR CREDIT IMPAIRMENT
- Unlimited Credit enquiries.
- All outstanding Defaults must be paid or paid out from Loan proceeds.
- Telco / Utility Defaults (max of 2 totalling less than $1,000) are ignored.
- Defaults paid more than 2 years ago (less than $5,000 each) are ignored.
- 1 other Default (paid or undpaid): Max $5,000.
- No history of Bankruptcy.
- No Mortgage arrears allowed.
MODERATE CREDIT IMPAIRMENT
- Unlimited Credit enquiries.
- All outstanding Defaults must be paid or paid out from Loan proceeds.
- Telco / Utility Defaults (max of 2 totalling less than $1,000) are ignored.
- Defaults paid more than 2 years ago (less than $5,000 each) are ignored.
- 3 other Defaults (paid or undpaid): Max $15,000 in total.
- Discharged from Bankruptcy for at least 12 months.
- No Mortgage arrears allowed.
SERIOUS CREDIT IMPAIRMENT
- Unlimited Credit enquiries.
- All outstanding Defaults must be paid or paid out from Loan proceeds.
- Telco / Utility Defaults (max of 2 totalling less than $1,000) are ignored.
- Defaults paid more than 2 years ago (less than $5,000 each) are ignored.
- 4 other Defaults (paid or undpaid): Max $25,000 in total.
- Discharged from Bankruptcy for at least 6 months.
- No Mortgage arrears allowed.
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Product 1 - Commercial (Offices, Warehouses, Shops) Clear Credit with ABN 12 months+:
Owners Occupiers OR Investment.
Interest Rates (Variable) - Loans up to $750,000 with "Cash Out" limited to 10% of Refinanced amount:
- 60.00% LVR and less: 9.20%
- 60.01% to 65.00% LVR: 9.30%
- 65.01% to 70.00% LVR: 9.40%
Interest Rates (Variable) - Loans $750,000 to $1,500,000 with "Cash Out" limited to 10% of Refinanced amount:
- 60.00% LVR and less: 9.80%
- 60.01% to 65.00% LVR: 9.90%
Interest Rates (Variable) - Loans up to $750,000 with UNLIMITED "Cash Out":
- 60.00% LVR and less: 9.45%
- 60.01% to 65.00% LVR: 9.55%
- 65.01% to 70.00% LVR: 9.65%
Interest Rates (Fixed) - Call for Quote (available for 1 or 2 years).
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Product 2 - Commercial (Offices, Warehouses, Shops) Minor Credit Impairment with ABN 12 months+:
Owners Occupiers OR Investment.
Interest Rates (Variable) - Loans up to $750,000 with "Cash Out" limited to 10% of Refinanced amount:
- 60.00% LVR and less: 9.30%
- 60.01% to 65.00% LVR: 9.40%
- 65.01% to 70.00% LVR: 9.50%
Interest Rates (Variable) - Loans $750,000 to $1,500,000 with "Cash Out" limited to 10% of Refinanced amount:
- 60.00% LVR and less: 9.90%
- 60.01% to 65.00% LVR: 10.00%
Interest Rates (Variable) - Loans up to $750,000 with UNLIMITED "Cash Out":
- 60.00% LVR and less: 9.55%
- 60.01% to 65.00% LVR: 9.65%
- 65.01% to 70.00% LVR: 9.75%
Interest Rates (Fixed) - Call for Quote (available for 1 or 2 years).
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Product 3 - Commercial (Offices, Warehouses, Shops) Moderate Credit Impairment with ABN 6 months+:
Owners Occupiers OR Investment.
Interest Rates (Variable) - Loans up to $750,000 with "Cash Out" limited to 10% of Refinanced amount:
- 60.00% LVR and less: 9.50%
- 60.01% to 65.00% LVR: 9.60%
- 65.01% to 70.00% LVR: 9.70%
Interest Rates (Variable) - Loans $750,000 to $1,500,000 with "Cash Out" limited to 10% of Refinanced amount:
- 60.00% LVR and less: 10.10%
- 60.01% to 65.00% LVR: 10.20%
Interest Rates (Variable) - Loans up to $750,000 with UNLIMITED "Cash Out":
- 60.00% LVR and less: 9.75%
- 60.01% to 65.00% LVR: 9.85%
- 65.01% to 70.00% LVR: 9.95%
Interest Rates (Fixed) - Call for Quote (available for 1 or 2 years).
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Product 4 - Commercial (Offices, Warehouses, Shops) Serious Credit Impairment with ABN 6 months+:
Owners Occupiers OR Investment.
Interest Rates (Variable) - Loans up to $750,000 with "Cash Out" limited to 10% of Refinanced amount:
- 60.00% LVR and less: 9.85%
- 60.01% to 65.00% LVR: 9.95%
- 65.01% to 70.00% LVR: 10.05%
Interest Rates (Fixed) - Call for Quote (available for 1 or 2 years).
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Product 5 - Light Industrial (Factories) Clear Credit with ABN 12 months+:
NO Owners Occupiers.
Interest Rates (Variable) - Loans up to $750,000 with "Cash Out" limited to 10% of Refinanced amount:
- 60.00% LVR and less: 9.70%
- 60.01% to 65.00% LVR: 9.80%
Interest Rates (Variable) - Loans $750,000 to $1,500,000 with "Cash Out" limited to 10% of Refinanced amount:
- 60.00% LVR and less: 10.30%
Interest Rates (Variable) - Loans up to $750,000 with UNLIMITED "Cash Out":
- 60.00% LVR and less: 10.20%
- 60.01% to 65.00% LVR: 10.40%
Interest Rates (Fixed) - Call for Quote (available for 1 or 2 years).
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Product 6 - Light Industrial (Factories) Minor Credit Impairment with ABN 12 months+:
NO Owners Occupiers.
Interest Rates (Variable) - Loans up to $750,000 with "Cash Out" limited to 10% of Refinanced amount:
- 60.00% LVR and less: 9.80%
- 60.01% to 65.00% LVR: 9.90%
Interest Rates (Variable) - Loans $750,000 to $1,500,000 with "Cash Out" limited to 10% of Refinanced amount:
- 60.00% LVR and less: 10.40%
Interest Rates (Variable) - Loans up to $750,000 with UNLIMITED "Cash Out":
- 60.00% LVR and less: 10.40%
- 60.01% to 65.00% LVR: 10.50%
Interest Rates (Fixed) - Call for Quote (available for 1 or 2 years).
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Product 7 - Light Industrial (Factories) Moderate Credit Impairment with ABN 6 months+:
NO Owners Occupiers.
Interest Rates (Variable) - Loans up to $750,000 with "Cash Out" limited to 10% of Refinanced amount:
- 60.00% LVR and less: 10.00%
- 60.01% to 65.00% LVR: 10.10%
Interest Rates (Variable) - Loans $750,000 to $1,500,000 with "Cash Out" limited to 10% of Refinanced amount:
- 60.00% LVR and less: 10.60%
Interest Rates (Variable) - Loans up to $750,000 with UNLIMITED "Cash Out":
- 60.00% LVR and less: 10.60%
- 60.01% to 65.00% LVR: 10.70%
Interest Rates (Fixed) - Call for Quote (available for 1 or 2 years).
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Product 8 - Rural (100 acres +) Clear Credit with ABN 12 months+:
Owners Occupiers OR Investment.
Interest Rates (Variable) - Loans up to $1,500,000 with UNLIMITED "Cash Out":
- 50.00% LVR and less: 10.30%
- 50.01% to 55.00% LVR: 10.40%
Interest Rates (Fixed) - Call for Quote (available for 1 or 2 years).
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Product 9 - Rural (100 acres +) Minor Credit Impairment with ABN 12 months+:
Owners Occupiers OR Investment.
Interest Rates (Variable) - Loans up to $1,500,000 with UNLIMITED "Cash Out":
- 50.00% LVR and less: 10.40%
- 50.01% to 55.00% LVR: 10.50%
Interest Rates (Fixed) - Call for Quote (available for 1 or 2 years).
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Product 10 - Rural (100 acres +) Moderate Credit Impairment with ABN 6 months+:
Owners Occupiers OR Investment.
Interest Rates (Variable) - Loans up to $1,500,000 with UNLIMITED "Cash Out":
- 50.00% LVR and less: 10.60%
- 50.01% to 55.00% LVR: 10.70%
Interest Rates (Fixed) - Call for Quote (available for 1 or 2 years).
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60% LOW DOC LOANS
BANK LOAN - 6.80% Variable (option to transfer to 6.60%+ after 2 years of good repayment conduct (rate could vary upwards by as much as 0.20% depending on amount borrowed and LVR)
BANK LOAN - Loans $500,000+: 6.54% to 75% LVR, 6.69% 75.01% to 80% LVR
Loans $250,000 to $499,999: 6.59% to 75% LVR, 6.69% 75.01% to 80% LVR
Loans to $250,000: 6.84% to 75% LVR, 6.94% 75.01% to 80% LVR
NON BANK LOAN - Max 60% LVR: 6.83% Variable (6.73% Variable for loans $500,000+)
BANK LOAN - 6.56% Variable for loans > $250,000 and lodged by 29 Feb 2012 - else 6.66%
BANK LOAN - 6.90% Variable for LVR's over 60% (Rates from 6.71% if LVR is 60% or under)
BANK LOAN - Rates From 6.76% Variable, Fixed Rates available (1-5 Years)
BANK LOAN - 7.70% Variable
BANK LOAN - 7.74% Variable, Fixed Rates available (1-5 Years)
NON BANK LOAN - Rates From 8.65% Variable
NON BANK LOAN - Rates From 8.59% Variable
NON BANK LOAN - Rates From 9.05% Variable, Fixed Rates available
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80% LOW DOC LOANS
BANK LOAN - 7.30% Variable (option to transfer to 6.60%+ after 2 years of good repayment conduct (rate could vary upwards by as much as 0.20% depending on amount borrowed and LVR)
BANK LOAN - Rates From 6.76% Variable, Fixed Rates available (1-5 Years)
BANK LOAN - $500,000 and above - 6.87% variable
$250,000 to $499,999 - 6.97% variable
Under $250,000 - 7.57% variable
BANK LOAN - 6.90% Variable for LVR's over 60% (Rates from 6.71% if LVR is 60% or under)
NON BANK LOAN - 60.01% to 80% LVR: 7.08% Variable (6.98% Variable for loans $500,000+)
BANK LOAN - 7.74% Variable, Fixed Rates available (1-5 Years)
NON BANK LOAN - Rates From 8.65% Variable
NON BANK LOAN - Rates From 8.59% Variable
NON BANK LOAN - Rates From 9.05% Variable, Fixed Rates available
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COMMERCIAL LOW DOC LOANS
BANK LOAN - Rates From 8.69% Variable, 7.79% Fixed 1 Year
NON BANK LOAN - Rates From 9.20% Variable, Fixed also available (call for current rates)
RESIDENTIAL AND COMMERCIAL CONSTRUCTION LOW DOC LOANS FOR DEVELOPERS
NON BANK LOAN - Rates From 10.20% Variable
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