Bank Finance Fell Through? Settle With an Urgent Short Term Loan

Keep your deposit and your settlement date when a bank approval is withdrawn or delayed

Experts in strategic, short-term finance

Rated 5 out of 5Jason V

Hands down, the best private lenders in the biz
Gino, Alec and Finn are exceptional at what they do. Top tier communication and transparent service.

Rated 5 out of 5Rhowell Dela Rosa

Every settlement has been smooth
Gino and the team at Secured Lending are our go-to when a deal needs to move fast or fall outside bank criteria.

Rated 5 out of 5Rory Mcgrath

Always my top choice for nearly all private lending scenarios
I run and operate a private lending brokerage and have worked with Mark and the team for years.

Rated 5 out of 5Luke Egan

Speed to market on lending advances second to none
The owner is also one of best commentators on LinkedIn calling out poor lending and recovery practices.

Rated 5 out of 5amal maharaj

True professionals in the non bank lending space
Straight forward application and assessment process with clear communication till loan settlement.

Rated 5 out of 5Sam Algeri

Excellent service, quick approvals and seamless settlements
The team at Secured Lending, particularly Gino and Finn, are fantastic to work with.

Rated 5 out of 5sebastian wright

Speed, reliability, transparency
Exceptional team. Exceptional Service. Loved working with the team at Secured Lending.

Rated 5 out of 5Jordan Thomas

Gino & Finn are the best in the business
Quick and painless to deal with, keep up the great work SL team!

Rated 5 out of 5Wayne McCarthy

Always willing to think outside the box to get deals done
We've had a great experience working with Secured Lending.

Rated 5 out of 5JP G

Quick, responsive and reasonable
With all the shady characters in the private lending market, its refreshing to find good people to deal with.

Rated 5 out of 5Joel Togo

Always thorough on assessment and will give you a prompt answer
With clients that are in time sensitive situations, this is crucial.

Rated 5 out of 5David Pruscino

Always professional and supportive
It's a pleasure dealing with the Secured team.

Rated 5 out of 5Monica Monsigneur

A professional and common sense lender who delivers

Rated 5 out of 5Thomas de Fegely

Great options in the private space
Have been dealing with Finn from Secured Lending, he has been very responsive.

Rated 5 out of 5Andrew Soo

A very reliable funding partner
Highly recommended.

Rated 5 out of 5Phil Boyle

Very efficient, responsive
Finn was a great help to assist in a very timely manner.

Finance within

24 hours

Loans from

$250k to $10M

Rates from

9.7% p.a.

Terms

1 to 24 months

When a bank withdraws or delays its approval close to settlement, it is stressful, especially with your deposit at risk. We can fund the purchase in as little as 24 hours, so you settle on the agreed date and arrange long-term finance afterwards.

We fund commercial, industrial and investment property purchases for businesses and investors across Australia. We lend our own funds and use our own valuers, so we do not need to repeat the process the bank has stopped.

Why bank approvals fall through

•The bank valuation came in below the purchase price
•The approval expired before the settlement date
•The bank changed its lending policy, or reassessed your income, after giving conditional approval
•A condition such as a signed lease or a building report could not be met in time
•The bank needs more time, and the seller will not move the settlement date
•A co-buyer or investor withdrew their share of the funds

In many of these cases the property and your equity have not changed. The bank has run out of time, or its policy no longer fits your purchase.

What happens if you do not settle

If you do not settle on the agreed date, the seller can issue a notice to complete, which sets a new, short deadline. If that deadline passes, the seller may be able to end the contract, keep your deposit and claim costs from you. Your solicitor or conveyancer can confirm the exact dates under your contract. Arranging replacement finance as soon as the bank says no gives you the most options.

How we get you to settlement

First call. Tell us the settlement date, the purchase price and what the bank has said. An indicative offer is usually ready within hours.
Valuation. Our own valuers can usually inspect the property within a day. Ask the agent to arrange access while we prepare the offer.
Letter of offer. Once you accept the terms, we issue the letter of offer straight away and work directly with your solicitor or conveyancer.
Settlement. Settlement is possible within 24 hours after the letter of offer is signed.

Documents that speed things up

•A copy of the contract and the date settlement is due
•The bank's approval, withdrawal or valuation letter
•Proof of your deposit and the funds you have available
•Details of any other property you own, if the purchase needs extra security
•Your plan to repay us, usually a bank loan once the cause of the delay is fixed, or a sale

Which of our loans can help

•First mortgage: over the property you are buying, in place of the bank loan
•Second mortgage: over another property you own, if the valuation came in short
•Bridging loans: to settle now and refinance or sell later
•Caveat loans: fast funding from equity in a property you own

Loan terms

Loan feature	Detail
Loan size	$250,000 to $10,000,000
Interest rate	From 9.7% p.a. (first mortgage), from 11.95% p.a. (second mortgage)
Term	1 to 24 months, interest only. Most loans of this kind run for 3 to 6 months
Maximum LVR	70% of the lower of the assessed value and the purchase price
Security	A first mortgage over the property you are buying. Another property you own can be added for a larger loan
Settlement	From 24 hours

Moving to a long-term loan

Most buyers repay us by refinancing to a bank once the reason for the delay is fixed. That might be a new valuation, a signed lease or another year of financial statements. We set the term so you have enough time to do this without rushing, and the letter of offer explains the early repayment terms.

Settlements we have saved

→$1.88 million settled in 48 hours when the bank was delayed →$4 million settlement funded 24 hours after the lender pulled out →$271,000 approved in 4 hours after a notice to complete →$4.741 million settled across three properties when sale funds fell through

“When a bank pulls out a few days before settlement, the buyer usually still has a good property, a deposit paid and a plan for long-term finance. What they need is a lender that can make a decision quickly. We look at the property and how the loan will be repaid, and we can often settle within a day or two of receiving the contract.”

Gino Tabila

Associate Director

Frequently Asked Questions

Three days is enough in most cases, and we can fund on the same day depending on your scenario. Call us on 1300 795 175 rather than sending a form, and have the contract ready. Access to the property for our valuer is the most common cause of delay, so ask the agent to arrange it straight away.

It is worth asking, and your solicitor or conveyancer can make the request. The seller does not have to agree, and some will ask for a fee or interest in return for a later date. Many buyers ask for a short extension and apply to us at the same time, so they can settle on whichever date is agreed.

It may be similar, as two valuations of the same property rarely differ by much. We lend up to 70% of the lower of the value and the price, so a low valuation means a larger deposit or a second property as extra security. We will tell you early if the numbers do not work, so you can plan your next step.

You may lose your deposit if you do not settle. Once a notice to complete has expired, the seller may be able to end the contract, keep the deposit and claim costs. Your solicitor can explain what your contract says about this. The sooner you arrange replacement finance, the more options you have.

No. We lend for business and investment purposes only, such as a commercial property, an industrial building or an investment property. If finance on your own home has fallen through, a mortgage broker can help you find a lender that offers home loans.

Yes, and that is how most of these loans are repaid. Once the cause of the bank's withdrawal is resolved, you apply to a bank or another lender and use the new loan to repay ours. Our terms run from 1 to 24 months, so you are not rushed into the first offer you receive.

Yes. If the failed approval has tied up cash the business needs, we can also fund stock, staff or supplier payments. We lend to businesses in retail, manufacturing, professional services and other industries.

We do not always need them. We focus on the property and your plan for repaying the loan, so many of our loans settle without full financial statements. We will ask for enough to confirm the loan can be repaid, such as a bank pre-approval, a sale plan or recent business figures.