|
Short Terms / Bridging
|
|
|
Overview
• Great solutions for you when there is an need for quick fix solution
• you must have an exist strategies and Brick and mortar securities/s
• Firm Finance understands that sometimes you need money fast and time not on your side
• Firm Finance knows that you don't always have time to produce complicated financial reports? And If you do it might or may not satisfy your Banker.
• Firm Finance can assist you with private funding in achieving your goals and releasing your stress and frustration.
|
| Target |
Individuals (PAYG or self-employed), Companies, Partnerships or Trusts |
|
Loan Purpose
|
Loans considered for direct purchase, refinance, debit consolidation and construction being residential and investment. Facility not regulated by the UCCC
|
|
Loan Features
|
Quick ready and fast settlement with no much fuss
|
|
Loan Products
|
Short period with exit strategies
|
|
Minimum Loan Size
|
$5,000 (Subject to the loan scenario and to the LVR) Double security
|
|
Maximum Loan size
|
$5,000,000 (Subject to the loan scenario and to the LVR) Single security
|
|
Loan to Value Ratio
|
Up to 80%
|
|
Minimum Loan Terms
|
3 Months
|
|
Maximum Loan Terms
|
6 months
|
|
Loan Repayment Frequency
|
Monthly in advance
|
|
Security Type
|
A. Residential commercial industrial vacant land and rural residential being occupier \ investment Properties must be located in Australia (QLD, NSW, VIC, ACT).
B. Properties must be cities or major regional centers with a population of at least 30,000. All properties must have legal and unrestricted road access.
C. Properties must comprise an area of at least 40 square meters (excluding balconies )
|
|
Redraw Available
|
No
|
|
Split Loan Available
|
No
|
|
Dynamic Repayment
|
No
|
|
Additional Repayment
|
Principal reductions accepted with minimum of $15,000 each time on the principal part if any
|
|
Loan statements
|
No
|
|
Documentation Required
|
Subject to the loan purpose, please call 1300 790 909 for more details
|
|
Financial Information
|
Borrowers who can demonstrate serviceability by way of exit strategies or with up to date detailed financial statements covering the last 12 months
|
|
Qualifying Interest Rate
|
Please call our consultant on 1300 790 909 for more details
|
|
Other Conditions
|
A. Prime loans Borrowers must demonstrate serviceability
B. Lo Doc & Uninsured Borrowers must be self employed or an Investor , has an ABN number and registered for GST and in business for the past 2 years
|
|
= Required
