September 29, 2019
Loan product alert – Sept 2019
Up to 75% LVR under 5% p.a…no way!
We have recently seen a significant shift in the non-bank capital market with compression of non-bank rates trending downwards towards traditional banking pricing for investment debt.
– Loan size: from $1M up to $7.5M;
– LVR: up to 70%-75%;
– Interest rate: 4.70%-5.10%; and
– Term: up to 3 years
– Servicing requirements: Debt service ratio of 1.50x (serviced directly from financed property or wider group income at actual rates).
– Recourse: Non-recourse option available
– Acceptable securities: Commercial, retail, office, industrial, owner-occupied properties and acquisition/site finance (pre and post DA)
– LVR well above what banks can offer
– No annual review or line fees
– Flexible and commercial loan terms
– Quick turnaround time, low documentation
– Lease up risk accepted on short W.A.L.E transactions
Please get in touch for more details about this quality non-bank product.