|
Background: |
Many loans and lenders are limited to strict
criteria for what they can and cannot source funds for and lend
against. We have also noticed MANY securitisers that source
their funding through the U.S or U.K markets increasing their rates,
their fees and reducing their Lending Ratio's
Union Fidelity seeks to provide
commercially viable solutions, many of which are beyond the scope of
traditional lenders.
|
|
Recent
Products
Still Available: |
No
Doc Commercial
High
LVR Commercial
Credit
Impaired Residential
Rural
Low Doc
Second
Mortgages |
|
Product 1 : |
New Options:
Valuation Paid for by Lender after
acceptance of Indicative
Quote
1 day ABN
to 70%/ 12 month ABN to 80%/ 2 year ABN to
95%*
No LMI
payable
Variable
Rate & Fixed Rate (1-5 years) available
Terms:
Principal & Interest to 30
years
Interest
Only: 1-5 years
*
Owner Occupied Non-Coded Properties Only
At the
end of the interest only period the repayments automatically change
to Principal & Interest for the remainder of the contract
term |
|
Rates: |
| Full Doc |
|
|
|
|
Low Doc |
|
|
|
| Max LVR |
to 70% |
to 80% |
to 85% |
to 90% |
to 70% |
to 80% |
to 85% |
to 90% |
| Credit |
to $2M |
to $2M |
to $2M |
to $1.5M |
to $2M |
to $2M |
to $1M |
to $1M |
| Clear |
8.3% |
8.69% |
9.69% |
10.5% |
8.5% |
9.50% |
10.69% |
11.65% |
| 1 Default |
8.39% |
9.09% |
10.14% |
10.8% |
8.59% |
9.59% |
10.76% |
12.14% |
| 2 Defaults |
8.75% |
9.49% |
10.99% |
11.86% |
8.99% |
10.32% |
Nil |
Nil |
| 3 Defaults |
9.24% |
10.32% |
Nil |
Nil |
9.79% |
10.75% |
Nil |
Nil |
| 4 Defaults |
9.79% |
10.70% |
Nil |
Nil |
10.64% |
11.4% |
Nil |
Nil |
|
|
Unacceptable
Security: |
Mixed
Securities, Vacant Land, Construction, Rural Residential Securities,
Flood prone areas, rural, leasehold, dual key, holiday letting or
short term tenant units, bed-sits or properties less than 50 square
metres (livable area)
Other options for loans that do not
meet this criteria try No
Doc Commercial or Rural
Low Doc |
|
Loan Product 2:
|
Loan
Amount (per security): Minimum
$200,000
Maximum $2,000,000
Maximum
Borrower Exposure: Maximum
Individual borrowings of $3m
|
| Product 2 |
Platinum Residential Loans Up to $8M Per
Loan |
|
Acceptable
Postcodes: |
- Low Doc / Self
Certified
- Loans
Up to 85%
- Loans
up to 5 years
- No
completion or Mortgage Risk Fees
- No
loan equalisation fees
- No
Lenders Mortgage Insurance
| Max LVR |
to65% |
to 70% |
to 75% |
to 80% |
to 85% |
| Credit |
to $8M
|
to
$8M |
to
$8M |
to $8M
|
to
$8M |
| Clear |
from
9.75% |
from
10% |
from
10.25% |
from
10.5% |
from
11.25% |
1 Default
(to 8M) |
from
10% |
from
10.25% |
from
10.5% |
from
10.75% |
from
11.25% |
2 Defaults
(to $8M) |
from
10.25% |
from
10.5% |
from
10.75% |
from
11.25% |
Nil |
3 Defaults
(to $6M) |
from
10.75% |
from10.99% |
from
11.25% |
Nil |
Nil |
4 Defaults
(to $5M) |
from
10.99% |
from
11.25% |
from
11.5% |
Nil |
Nil |
Early
Repayment Fees on All Platinum Products are 3% of the loan
amount
Lenders Fees 1.65% to $2M and 2.2% $2M
+ |
|
Introducers
Fees: |
Up to
1.1% (incl GST) payable weekly after
settlement date |
