|LOAN NAME & TYPE||First Mortgage
|PRODUCT SUMMARY||Ideal for a situation where there is equity in several available security properties and
timing of settlement of a loan is urgent.
|TIMING OF SETTLEMENT||Where all certificates of title are available, whether clear or not, and current valuations
are held, settlement is possible within days of receipt of application.
|BORROWER PROFILE||To fund business or investment needs. Non NCCP applications only.|
|MINIMUM LOAN AMOUNT||$10,000|
|MAXIMUM LOAN AMOUNT||$10,000,000.00+|
|APPLICATION FEE||From 1%|
|SECURITY/RISK FEE||Subject to risk assessment upon application. Can be capitalized.|
|INTEREST RATE||From 8% PA|
|INTEREST PAYMENT||Interest only. Capitalization of interest possible upon application|
|LOAN TERM||Up to 12 months +|
|ROLL OVER FACILITY||Loan term may upon application be rolled over for a further term of up to 12 months.
Roll over fees apply.
|INTRODUCER COMMISSION||Introducer determines own upfront commission as an establishment fee – up to 2%
+GST. Depending upon the loan term, trail commission can be arranged.
|LOAN EXIT||An acceptable loan exit strategy to be presented and approved at assessment stage.|
|EARLY REPAYMENT||No charge. No refunds of security/risk fees.|
|LOAN PURPOSE||• Working capital
• Creditor payments (including ATO debts)
• Business investments/expansion
• Refinancing of existing debt
• Buying out a shareholder/partner
• Construction completion
|LOAN SECURITY||• Commercial property
• Residential property
• Vacant land
|LOAN TO VALUATION RATIO
(max on each individual
security property offered &
including capitalised fees)
|• Residential – 85%
• Commercial – 75%
• Vacant land – 60%
|BORROWERS||• Corporate borrowers
• Individual borrowers (business purposes only)
|INCOME VERIFICATION||Lo doc No Doc|
|LOCATION||Metro and major regional – nationwide|
|CONTACT US||Fast online enquiries: www.basicfinance.com.au
Phone 1300 792 284