No Doc Loans

If the Borrower is a Company or Trust they can apply for a No Doc Loan for Commercial Purposes.

This type of loan is known as an asset lend because the lender is primarily relying on the value and sale ability of the security. You can use the funds from the loan for commercial property investment purposes, equity out for investment in shares or for business purposes including working capital, development finance, land banking, development sites and land subdivision.

Applicant type Companies, Trusts (If the purpose of the loan is regulated under the National Consumer Credit Protection Act (NCCP) then this loan is not available).
Location Case by Case but Generally Capital City and Major Regional Population Areas.
Income: required proofs Asset Lend – No proof of income required – Interest & Fees Capitalised up to maximum LVR
Loan amounts $250,000 up to $100,000,000
Purpose Working Capital
Business Use
Land Subdivision
Development Sites
Land Banking
Non Residents Foreign Investors (with FIRB approval)
Completion Finance
Equity out on Residual Stock for Developers
LVR Residential > 75% LVR (including Capitalised interest and Fees)
Commercial > 65% LVR (including Capitalised interest and Fees)
Vacant Land > 55% LVR (including Capitalised interest and Fees)
Acceptable securities Residential, Commercial Property and Vacant Land.
Credit related issues Considered case by case
Variable, fixed or both Fixed
P&I, I/O, or both Interest Only
Loan Term 1 – 3 years Asset Finance
Establishment Fee TBA (depending on lender)
Brokers Fee Yes
Lenders Legals At Cost
Valuations At Cost
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