This is a quick message for all real estate agent and property buyers. Recently we have experienced a massive increase in short term bridging loan applications from property buyers who have gone into rescission. Rescission is where a property is due to settle by a certain date, but for whatever reason, the buyer doesn’t have the money to complete the settlement.
This can be caused by the buyers finance not being ready in time, or the sale of the buyers other house not settling when it was supposed to, and then creating a domino effect. Whatever the reason, the outcome can be messy AND costly!!
We hear of people losing their deposit, and losing the property that they so desperately wanted to buy. Plus it can be even worse for developers who have been in negation for ages in trying to secure a parcel of land, only to not be able to settle by the due date, and the land gets on-sold at a significantly higher price because the value has increased since the deal was first struck.
Sound familiar!! Well what may not be as familiar is a fast and simple solution…. A short term business loan.
A short term business loan is just like bridging finance. It is for a short term of 1 – 6 months, and must be secured against real estate… and with us, we can fund these loans in just 24 hours!!
Borrowers simply need to have enough equity in real estate security anywhere in Australia or New Zealand, and an exit strategy (which is just to show how the loan will be paid out), and if the property being purchased isn’t a commercial property, the borrowers need to have a Pty Ltd company. If those few boxes can all be ticked, we can lend the funds by tomorrow. You also need to have an Exit Strategy in mind. The Exit strategy is how we get paid out, and is often the finance that was arranged but wasn’t ready in time, or the other asset that could settle in time.
Plus with us, a bad credit history or mortgage arrears doesn’t phase us, and there is almost no paperwork required. All we need is our 90 second online application form completed, and a copy of the contract of sale, and we can give an answer almost immediately. Then, if you are happy to proceed, we get the loan contracts issued, and once signed, you’re ready to settle!!!
Best of all is you are dealing with Australia and New Zealand’s largest national short term business lender, and our short term business loans have been a lifesaver for property buyers and real estate agents alike. So to find out more, call us 7 days a week, or simply go to our website and apply online and let’s get started.
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