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Background:
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Many loans and lenders are limited to strict
criteria for what they can and cannot source funds for and lend against. Union Fidelity seeks to provide
commercially viable solutions, many of which are beyond the scope of
traditional lenders.
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Credit:
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Options:
No Doc- to 65% LVR from 14% in arrears or from 13.5%
paid yearly upfront
Terms:
No Doc Loans – up to 3 years interest only
ATO payouts, Default Buyouts, Partnership / Divorce Payouts
will be considered on a case-by-case basis and will be priced according to
risk schedule
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Acceptable
Securities:
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| Shop |
| Strata Office |
| Factory / Warehouse |
| Markets Gardens |
| Guest Houses |
| Nursery’s |
| Mixed Use |
| Car Yards |
| Boarding House |
| Bed and Breakfast |
| Childcare |
| Medical Rooms |
| Offices |
| Motels (to max 50% LVR) |
| Function Centres |
| Shopping Centres |
| Residential Block >6 |
| Purpose Built Facility (to max 50% LVR) |
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Acceptable
Security
Locations
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QLD
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NSW/ACT
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VIC/TAS
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SA/NT
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WA
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Metropolitan
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+ Suburbs
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Brisbane
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Sydney
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Melbourne
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Adelaide
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Perth
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+/- 10km
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Gold Coast
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Wollongong
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Geelong
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Hills
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Mandurah
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Sunshine Coast
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Newcastle
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Mornington Peninsula
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Darwin
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Bunbury
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Toowoomba
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Gosford
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Wodonga
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Ipswich
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Albury
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Bendigo
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Cairns
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Port Kembla
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Shepparton
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Townsville
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Ballarat
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Hobart
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Launceston
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Regional
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Rockhampton
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Coffs Harbour
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Mildura
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Alice Springs
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Albany
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Mackay
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Dubbo
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Swan Hill
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Mount Gambier
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Kalgoorlie
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Tamworth
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Warrnambool
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Victor Harbour
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Geraldton
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Port Macquarie
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Devonport
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Broome
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Orange
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Hills
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Grafton
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Busselton
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Port Stephens
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Byron Bay
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Armidale
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Limitations:
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Unacceptable
Security Types:
Moiety titles (SA)
Purple Titles (WA)
Company Titles
Leasehold Security
Securities with EPA notices attached and no EPA remediation plan.
Flood Prone Properties
Vacant Land
Rural Residential
Rural
Specialised Zonings
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Income
Verification:
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- Pure
No Doc (to 65% LVR) – Application form with Income
Declaration Signed and Left
Blank
and Valuation only
If all information is completed in the above application form –
then no further information requests will be required by our
settlements department.
- No
Bank Statements / financials / or Accountants Letters
- A CRAA
report will be requisitioned by the lender – however impediments
on CRAA report will not be questioned or come into consideration-
unless Part 9, part 10 or Bankrupt
- No
Proof of Income will be requested – however a blank
income declaration will have to be signed with no disclosure of income
amounts
- No
copy of Assets and Liabilities Statements
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Lenders
Fees:
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Usually 1% (+ GST)
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No annual reviews
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No rate change for interest only option
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No risk fee add-ons at settlement
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Introducers
Fees:
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Up to 1.1% (incl GST)
payable weekly after settlement date
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