What is a Caveat Loan?
We fund Australia’s Fastest Caveat Loans
Borrow $20,000 to $5,000,000 in just 24 hours!
So, what is a Short Term Caveat Loan ?
A HomeSec short term Caveat Loan is a business loan that sits behind your current 1st Mortgage with your bank. Our Caveat Loans are perfect if you need access to extra funds by tomorrow, and you want them for a short term of 1 to 6 months.
Our Caveat Loans can settle within 24 hours, as we can simply lodge the caveat on the title of the security property once the loan contracts have been signed and scanned back. We don’t have to get the permission of the 1st mortgagee, and it doesnt affect your 1st Mortgage in any way.
Caveat Loans are a much better option than waiting months to refinance your current 1st mortgage. Caveat Loans are also a very affordable business loan as the interest and costs are capitalised into the loan. This means you don’t have to pay massive amounts up front (as we don’t do valuations), and you don’t have to service interest or repayments during the loan term. So it wont put pressure on your cashflow.
At the end of the short loan term, you can pay the caveat loan out (often through the sale of an asset, or refinance), OR you can extend the loan. With HomeSec Business Finance, there are no additional fees to extend the loan. You simply continue to pay the interest each month.
As it is a business loan, all interest and costs are fully tax deductable.
Here is a Quick FAQ on our super fast Caveat Loans
|Loan Amounts:||$20,000 to $5,000,000|
|Loan Term:||1 – 6 months (with the option to extend without paying additional fee’s)|
|Interest Payments:||nil – INTEREST IS CAPITALISED INTO THE LOAN|
|Interest Rate:||FROM 1.95%pm|
|Settlement Time Frame:||A breathtaking 24 hours from the time of application|
|Are Valuations Required:||NO, not with us|
|Are Tax Returns Required:||NO, not with us|
|LVR Limits:||75% on residential, 70% on commercial|
|Do we lend on land only:||Yes. up to 70% LVR|
|Credit History:||Poor credit score is fine with us|
|Arrears and TAX DEBT:||Both are fine with us|
|What States do you fund:||Australia Wide. (AND THROUGHOUT NEW ZEALAND TOO)|
|Brokerage:||No mandates required. You simply tell us your brokerage (up to a max of 4%) and we pay it at settlement|
Already a partner & you want to lodge an application right now? Simply use your personalised Application Link which was emailed to you when you became a partner. If you can’t locate it, simply call us on 1300 93 83 87, and we will help you from there.
Want To Get More Information ?
Our friendly team of Homesec Business Finance experts are waiting to speak with you.