Caveat Loans | Short Term Loans | Second Mortgages

What are Caveat Loans?

Caveat loans, Short Term Loans and Second Mortgages can be arranged for any
worthwhile business or investment purpose.  Terms usually range from 1 to 6 months
for amounts of  $20,000 - $500,000

Caveat Loans , Short Term Loans and Second Mortgages are secured by either a caveat
or second mortgage over residential or commercial property.  The security required
depends on the lender, the amount and the loan term.

Loans can be approved in as quick as 2 hours with settlement in 72 hours
after valuation of your property.

Interest on Caveat Loans, Short Term Loans and Second Mortgages usually range
from 2.00% - 6.00% per calendar month.  Better rates are available for larger amounts
and/or longer terms.

Why you might need Caveat Loans / Second Mortgage Loans?

You may have a business and your bank has said no to additional finance.  Or your bank may be too slow to put a new facility into place and you need short term finance right now.   Caveat Loans, Short Term Loans and Second Mortgage Loans can provide you with instant funds in your bank account within 5 working days.

A short term finance facility can provide you with instant cash flow, pending restructure or refinance of your longer term bank facilities.

You may have sold a property, but it may not settle for another two months.  However you need access to funds right now and can't wait for the settlement to go through.

You might be refinancing, but  need money right now to pay off other debts, or to finish renovations before the refinancing is finalised.

What is the cost of Caveat Loans / Second Mortgage Loans?

Caveat Loans, Short Term Loans and Second Mortgages can seem expensive with interest rates between 2.00% - 6.00% per calendar month.  There are also application fees, valuation fees, and legal fees to be paid.

You need to decide what the benefit to you will be by having access to instant cash?   Quite often the benefits will outway the cost, remembering that the facility will only be needed short term.

How do I arrange Caveat Loans / Second Mortgage Loans?
 
Custom Finance can arrange Caveat Loans, Short Term Loans and Second Mortgages through a number of different Short Term Lending Specialists.

You must have equity in either residential or commercial real estate.

You need to have an exit strategy on how you are going to repay the loan ie: sale of property or refinance, collection of debtors or any other suitable exit strategy.

Caveat Loans, Short Term Loans and Second Mortgages must be for genuine Business or Investment Purposes.  You may not have to monthly interest payments as this is often included in the loan amount.
The interest is paid back in one go at the end of the loan term, along with the principal. 

Usually the fees and costs associated with the Loan are added to the amount you wish to borrow, so there is no out of pocket expenses for you to pay.  Some Credit Providers require a valuation fee upfront, or payment of part of their application fee.







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