Funding
Updated
by
Caroline Pollard
Funding are a short-term lender that provide 1st & 2nd registered mortgages to consumers, companies, and trusts.
We are specialists in the following areas:
• Maximum 65% LVR, 3-24 month loan term, $25k-$10m loan amount
• Bridging Loans (Zero Clawback). Exit can be sale of property or refinance to another lender if the 'bridging' requirement was due to serviceability.
• Construction loans (65% of Land & 65% of Build Contract)
• Non Resident & recent arrival borrowers (All types of VISAS are acceptable)
• Land banks
• Development Sites
• Partially Completed Properties (House and/or Townhouses)
• Coded & Non-Coded
• 1% commission, paid at settlement
• We can settle deals within 2 weeks or sooner if an urgent deadline
• For deals with a 'sale' exit strategy and interest capitalised, servicing not required for both regulated and non-regulated loans. For deals with a 'refinance' exit strategy, servicing can be based on future income for both regulated and non-regulated loans (comfort needs to be gained around these future income levels to satisfy this requirement).
• Interest Rates start from 7.99% per annum for 1st mortgages & 17.99% per annum for 2nd mortgages
