Private mortgages are loans where borrowers only need to supply limited information on their current financial situation. Hardly any documentation is required and the application form is very brief. Approvals and settlements are generally swift. You can often borrow interest in advance for up to twelve months so there is no need to make any repayments for the first year.This type of product is ideal for people with very poor credit ratings, or those who require short term funding up to 1 or 2 years. Generally no credit checks are required.

Product Features

General

No upfront application fees
No mortgage insurance required
Quick approvals and settlements
Assist clients who do not fit the bank's criteria
Can borrow interest payments for first twelve months
Ideal for short term purposes eg bridging finance

Loan details

Up to 3 Year loan terms
Fixed interest Rate
Interest Only Monthly repayment
Minimum Loan size $20,000

Security

Can lend you up to 70% of your house value*
Mortgages over residential or rural residential properties (up to 20 Acres)*
Can use vacant land as additional security*

*Certain criteria apply