Difficult Loan Company is a specialist in arranging Private Mortgages.
These loans are extremely flexible in both in their ease of assessment and their repayment options.
Interest can be paid either monthly or capitalised into the loan – or it can be a combination of both.
Loan setup fees can also be deducted from the loan amount but valuation fees are usually required to be paid upfront.
Loan repayment in full (the exit strategy) is generally made by a major intended, realistic future event, for example, a property or business sale.
The exit strategy must be achievable, as these loans tend to be used for a temporary or bridging finance purpose.
Existing client credit ratings and defaults are not generally a deal breaker as the future security sale will generally be the source of loan repayment.
Security can be either a 1st or 2nd mortgage over suitable property with the loan to valuation ratios being to a maximum of 65% for 1st mortgages and to 80% of the valuation amount report for 2nd mortgages.
Settlement times can be much quicker than traditional bank mortgage loans with interest rates commencing from 5.5% per annum for 1st mortgages and from 14% per annum for 2nd mortgages.
Why not phone and let the Difficult Loan Company quote you for a Private Mortgage today? Contact us on (08) 8216 4109 or complete the quick quote request to get started.