1. Can I include my interest and fees into my loan?
Yes. The first month of interest and fees are paid in advance of your short term loan.
2. What is the minimum amount I can borrow?
The minimum short term loan amount we will lend is $10,000.
3. What is the minimum term I can borrow for?
The minimum term for a short term loan is 1 month.
4. What is the maximum term I can have the loan for?
The maximum term for a short term loan is 6 months.
5. Are there any penalties if I repay early?
No. Early repayment of your short term loan will not incur any penalties. In the case of early repayment, we will also rebate to you any outstanding, whole month prepaid interest.
6. What may cause delays in my loan settling?
The key delay in the settlement of your short term loan is in the circumstance of a second mortgage where the first mortgagee is slow in agreeing to provide Caveat Lenders with its second mortgage priority.
7. What security do I need?
Caveat Lenders' loans are all secured against property by way of registered or registrable mortgages. We accept residential, commercial, retail, industrial and development sites as security.
8. Will I need a valuation on my property?
Valuations on property are required for all of Caveat Lenders' loans.
9. Why do you require an exit strategy from me?
To ensure that you are able to repay your short term loan with Caveat Lenders.
11. How long will it take for you to approve my short term loan?
Indicative approval may be made verbally over the phone in a couple of minutes. A written indicative letter of approval is usually provided within an hour.
12. How is interest calculated?
Interest on your short term loan is calculated monthly in advance. |
