Frequently Asked Questions

  • Q: How much can I borrow?
  • A:

    Minimum loan amount is $150,000.

    The amount you can borrow will depend on the level of security you can offer and the amount of earnings you have. We can lend up to 75% of the registered valuation, depending on the type and location, of the security being offered.

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  • Q: Can I repay my loan early?
  • A:

    Yes, you can choose to prepay either the full loan or part of the loan early. We charge no early repayment fee.

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  • A:

    We always provide you with a fixed quote for legal fees in our Letter of Offer. Typically, for a standard loan secured over a single residential property, this will be $1,200 plus GST and disbursements. This amount is generally tagged on to the loan so you do not have to pay anything upfront.

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  • Q: What fees do I have to pay?
  • A:

    There is an application fee of 2% plus brokerage. This amount is generally tagged on to the loan so you do not have to pay anything upfront. There are no other hidden fees such as a minimum lending fee or an early repayment fee.

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  • Q: What interest rates can I borrow at?
  • A:

    Given the short term nature of the borrowing, we generally offer only fixed interest rate options which means your interest rate will not change during the term of the loan.

    Our current base rate for borrowing is 11% p.a. This rate will be applied to loans that we consider to be of very low risk. A margin may be applied to this base rate to reflect the level of risk they represent.

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  • Q: How long can I borrow for?
  • A:

    You can borrow from 1 month up to 12 months. In some circumstances we will also lend for longer than 12 months. If the loan has been conducted satisfactorily, we will generally offer to roll over the loan on maturity, if requested by the client.

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  • Q: What types of loans are available?
  • A:

    We offer loans for any purpose as long as they are secured by either residential or commercial property.

    We offer you complete flexibility in structuring your loan. You can choose between:

    Interest only – Pay interest only on a regular basis based on the payment cycle you choose

    Part Interest only – pay only part of the interest on a regular basis based on the payment cycle you choose. The balance of the interest can be paid at the end of the term of the loan

    Principal and Interest – regular payments of both interest and principal based on the payment cycle you choose

    One Lump Sum Payment – Pay all interest and principal at the end of the loan

    Payment cycles can be monthly, quarterly, 6 monthly or simply one lump sum payment at the expiry of the loan.

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