Caveat Loans 

• You must have equity in a piece of real estate.   With our loan added to other mortgages and caveats that may be on the title, the LVR (Loan to Valuation Ratio) needs to be 75% or less.
• You need to have an EXIT STRATEGY.  This means, you need to be able to show how you plan to pay the loan back within a period of no more than 4 months.   (Eg: through the sale of a property or refinancing, etc)
• Caveat Loans must be for genuine Business Purposes  - We can no longer lend for "Investment Purposes", EXCEPT when the borrower is a Company or Trust.

Best of all, with short term Bridging or Caveat loans, Funds can be available in 24 hours after approval and you don't have to make monthly interest payments.  The interest is paid back in one go at the end of the loan term, along with the principal.
 

Amount

$20,000 > $250,000 (Loans over $250,000 will be assessed on a case by case basis)

Restrictions

Up to 75% LVR  (maximum 4 months)

Application Fee

0.5% > 1% of Loan (depending on Funder)

Valuation

At Cost - If required

Conditions

Must have exit strategy i.e: sale of the property, refinance, payment from a trade debtor etc

Coded, non-coded, or either

Non coded Only

Documents Required for Processing

1) Completed Application Form
2) Rates notices for security property
3) Recent (2 months) Mortgage statement and copies of all statements where the loan is secured by the property
4) Photo ID
5) Documents to support exit strategy e.g Copy of contract or sale agreement etc
6) Real Estate Market Appraisal (one can be obtained from your nearest Real Estate agent the same day at no cost)