March 15, 2019
Loan product alert – March 2019
Competitive non-bank term debt (FINALLY!)
We haven’t seen non-banks being interest rate competitive with the banks since pre-GFC. Finally we are seeing some traction in this space.
Following our last product update, we have another highly competitive new non-bank investment/term debt product:
– Loan size: from $10M up to $150M;
– LVRs: up to 70%;
– Min ICR: from 1x (with < than 1x considered on a case by case basis pending asset strategy);
– Interest rate: from 2.5% p.a. above BBSY;and
Location: all capital cities and major regional areas considered nationally.
Who might be interested in this product:
Existing Bank Borrowers with upcoming loan expiries that are seeking refinance options or equity release via increasing borrowings;
Commercial property investors looking to acquire assets which are either low yielding, under rented and/or have major vacancies; and
Commercial property investors looking to acquire assets with loan requirements of greater than $10M.
Please contact us to discuss your scenario.