| Use of loan |
1-3 month loan: For borrowers
seeking urgent settlement funds, typically to settle
on fixed property and or other assets, where the
borrower has not yet got their formal funding in
place.
4-6 month loan: For borrowers seeking funds typically
to settle on fixed property and or other assets,
where the borrower has not yet got their formal
funding in place.
7-12 month loan: Same as for 4-6 month loan |
| |
| Property type |
Security used for loans will be land
and or buildings within generally accepted post
codes and of the following nature:
•
Residential
• Commercial |
| |
| Security taken |
Registered 1st and or 2nd mortgages
over property.
Other assets such as vehicles, boats, plant and
equipment (no older than five years) are considered
but as additional collateral security only. |
|
|
| Minimum loan size: |
$ 20,000 |
| |
| Maximum loan size |
$ 3,000,000 |
| |
| Maximum loan term |
12 months |
| |
| Maximum LVR (1st & 2nd lien combined) |
75% for residential property (although
when an exit strategy can be verified, NCF will
lend up to a combined LTV of 80%) and 65% for commercial
property. |
| |
| Minimum interest rate |
From 1,5% per month
|
| |
|
| |
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