| Loan Amounts |
|
$10,000 - $1,000,000
Loans above $1 million will be considered on individual merits. |
 |
| Minimum Term |
|
1 Month |
|
| Maximum Term |
|
6 Months |
|
| Exit Strategy |
|
The applicant or broker must provide a clear loan repayment strategy with which the loan will be paid out at the end of its term. |
|
| Interest Payments |
|
Payments are calculated on a monthly basis. The 1st interest payment is made in advance and following payments on each corresponding month. Payments may be rolled over to the following month. |
|
| Purposes |
|
Advances will only be made where a declaration is provided by the applicant stating that the funds are to be used predominantly for business or investment purposes. |
|
Loan to Value Ratio
(LVR) |
|
The LVR is calculated on the lower value of either the recent security purchase price or Caveat Lenders' approved valuation. |
|
| Residential |
|
1st mortgage security up to 80%.
2nd mortgage security up to 80%. |
|
| Commercial and Retail |
|
1st mortgage security up to 70%
2nd mortgage security up to 70% |
|
| Acceptable Securities |
|
First or second registered mortgages. |
|
| Guarantees |
|
Personal and director’s guarantees are required for all loans. In some instances shareholder’s guarantees may also be required. |
