What are the private funders?
Private funders are often a group of individuals or individual who are looking to get a better return on their money than what the banks can offer. Because they are not a bank, they can often and do lend money to those individuals who don’t qualify for normal business or commercial loan.
What do private funders look at borrowers?
Capability to repay loan or interest of loan
Character – consistency with on-time repayment or interest payment
Collateral – normally residential property is being used as the security
What is the interest rate?
Commercial loan starts from 7%pa
What is the maximum funding?
We can go up to 65% value of the property (first mortgage)
What other costs applicable?
Generally, valuation, legal; and Application fee, a.k.a. commitment & processing fee
How Soon Can We Settle?
As soon as you wish, within a reasonable time frame (Landgate to register mortgage).Normally within one week if terms and conditions are met.