In a first for the Private Lending Market we now offer all referrers the opportunity to recoup their costs of putting an application together, even if the loan does not proceed to settlement. Simply tell us your costs incurred in putting the application together and we will add that sum to the commitment fee payable by the borrower on approval subject to valuation. Once the borrower pays the appropriate commitmant fee, we will advance to you the “Pre-setlement Fee” equal to your costs.
For all acquisitions, we will need a full copy of the purchase contract before we begin our evaluation. For refinance and / or Cash Out applications, please provide the latest loan statement from the existing mortgagee (or a letter of conduct). For construction and development applications, please provide a full financial feasibility and project marketing plan. For all formal applications please download and complete the application at the bottom of this page. For an initial discussion, please call David Carter on 07 3303 8432 or 0401 865 964
If you are able to supply copies of existing valuations (preferably in PDF), title reports and surveys, it will help us to make a quicker decision. We aim to get back to you within 24 hours with an initial credit decision subject to due diligence. If we feel that the proposed loan fits our criteria, we will provide you with a letter of offer specifying the terms of the loan and any outstanding items that would be required for final approval and settlement.
One Month to Two Years, Interest Only or Capitalised Payments
$200,000 – $15,000,000 (Larger amounts may be available upon request)
Residential (Company Borrowers Only), Commercial, Industrial, Rural
Construction and Development Including Joint Ventures.
LVR’s to 75%
48 Hour Settlements Possible
Brokers Protected and “Pre-Settlement Fees” available to cover your initail costs of application
Trail Commission available
Interest Rates from 9.25%
All Australian States and Territories Except for Western Australia
For further details, please contact our office on 07 3303 8432 or 0401 865 964“
Some other private mortgage companies make loans to individual homeowners. The types of private mortgage advances structured by CC Capital are made to professional investors and companies. There are three main advantages of lending to these classes of borrower.
Firstly, the NCCP Act 2009 does not apply to Company Borrowers; this means that in the rare event of a default, it is much easier to take possession and sell any property that has been pledged as security for the promissory note.
Secondly; Taking an income-producing property as security, allows borrowers to make loan repayments from the properties’ income, not out of general cash flow (we can insist that rent payments are directed to cover the loan repayments), making for a safer loan. And finally, there are a lot more opportunities to lend money at higher interest rates and lower loan to value ratios on commercial and investment properties than there are on owner occupied single family residences.
PMDI’s could be considered by both the retired investors seeking to increase their interest income and other investors seeking to diversify their portfolio. Yields in the 11% range allow the retirement income investor the chance to substantially increase their income and lifestyle with little additional risk vs. equities or fixed income deposits.
In the rare event of default, the private mortgage investor will begin re-possession proceedings. Should payments, penalties and legal fees (as spelled out in your mortgage document) not be brought up to date by the borrower, the trustee (CC Capital) will foreclose on the property serving as the collateral security for the promissory note. An auction will be held, and the lender (private mortgage investor) will either receive the total amount of the principal of the note (if the property is purchased by an outside bidder) or the trustee (CC Capital) will bid the amount of principal, interest and penalties due and the mortgage investor will receive title to the property. Since the property will be worth significantly more than the amount owed, opportunity exists for significant additional profit. In fact many private mortgage investors look forward to obtaining ownership of income producing property at significant discounts should foreclosure become necessary.
For the best in Privale Funding, you cannot go past CC Capital