Urgent Short Term Loans to Pay Your Deposit on Exchange

Yes, the numbers fit. 70% of $1,500,000 is $1,050,000, and after the $600,000 already owing that leaves up to $450,000, more than the $280,000 deposit. A second mortgage behind the existing lender is from 11.95% p.a., and a caveat loan can be faster where the existing lender's consent takes time. Plan the settlement funding at the same time, because the receiver's settlement date may not move. Send us the office details and the warehouse contract together, and we can price the deposit loan and the settlement loan as one plan.

• →Second mortgage finance

Yes. The business buying the building is the borrower, and total borrowing on your home can be up to $980,000, which is 70% of $1.4 million, and with $500,000 already owing that leaves room for $480,000, more than the $320,000 deposit. A caveat or second mortgage behind your bank loan is usually the quickest structure. We will also ask how the remaining $2.88 million will be funded at settlement.

• →Caveat loans

Yes, where the half you need is $250,000 or more. On a $6 million purchase, that is $300,000 of a $600,000 deposit, which we lend against a property the company or a director already owns. We will check how the rest of the price will be funded at settlement before we lend.

It can be either, as long as the plan is agreed before we lend. Some buyers repay the deposit loan at settlement as part of the purchase finance, and others keep it running and repay it from a sale or a refinance later. Our terms run from 1 to 24 months, so we set the term to match the plan.

It depends on why the purchase falls over, so ask your solicitor what your contract says. If the contract ends without any default by you, the deposit is usually refunded, but if you fail to settle, the seller may be able to keep it. Either way, the deposit loan is still owed and is repaid through the agreed plan, which is why we check how settlement will be funded before we lend.

Ask your bank before you exchange, because each bank decides how it treats a borrowed deposit. Tell the bank about the deposit loan at the start, since it will see our mortgage or caveat over your other property. We check how settlement will be funded before we lend for the same reason.

• →Secured loans for investment property deposits

Yes, we value the property you are offering as security first, and it can happen in time. Our in-house valuers usually inspect within a day, so call as soon as the offer is accepted and arrange access to the property straight away. Have the contract and your property's address and loan balance ready for the first call.

• →$1.2 million second mortgage for a five-day exchange

Yes. Buying premises for your business to trade from is a business purpose, so a deposit loan can fund it. The property that secures the deposit loan can be a residential, commercial or industrial property you already own. Tell us how the business will fund the purchase at settlement, for example a bank loan over the new premises.

• →Urgent commercial property purchase loans

Yes. One loan of $330,000 to the company is above our $250,000 minimum and can fund both deposits from the equity in a property the company or a director already owns, within 70% of its value. We will want to see how both settlements will be funded before we lend.

Yes, on our shortest term of one month. You repay it from the sale proceeds when the sale settles, inside that month. Send us the sale contract with the purchase contract, so we can see both dates.

Yes. We lend the deposit now against the property, and the bank's refinance of that same property repays us when it completes. Tell us which bank it is and how far the application has progressed, so we can set a term with time to spare if the bank is slower than expected.

This week is achievable, and a deposit can be funded on the same day depending on your scenario. A caveat loan over a property you already own is usually the fastest structure, because it registers quickly.

• →$1.2 million in 24 hours for a commercial purchase with a five-day exchange
• →$250,000 funded in under 2 hours
• →$271,000 approved within 4 hours for a next-day settlement

Our loans start at $250,000, so we fund deposits on larger purchases, usually $2.5 million and above at a 10% deposit. For a smaller deposit, a deposit bond or your bank may suit you better.

Yes. The seller receives cash on exchange, so it makes no difference to them where the funds came from. This is the main advantage over a deposit bond.

Not necessarily, but we will want to see how you plan to fund settlement. A bank pre-approval, a sale or our own purchase loan are all possible. We will not fund a deposit if the settlement plan does not work, because that would put your deposit at risk.

Yes. We can fund the deposit now and the balance at settlement, secured by the property you are buying and any other property you own. The total must stay within 70% of the combined value.

Yes. If the deposit uses cash your business relies on, we can also fund stock, staff or supplier payments. We lend for working capital across construction, retail, professional services and other industries.

• →All industries we lend to
• →Working capital loans

No. We only lend for business purposes. For a home you plan to live in, a bank or mortgage broker can talk you through a deposit bond or other options.

A residential, commercial or industrial property you already own, whether it has a mortgage or not. We can register a caveat or a second mortgage behind your bank, or take a first mortgage if the property is unencumbered.