Urgent Short Term Loans to Buy Distressed and Mortgagee Sale Property

Have the finance settled before the final contract arrives. Until contracts are exchanged, a receiver's sale can change, and an owner repaying its lender is one way that happens, so the time your company controls is the time it takes to be ready. Send us the draft contract today and arrange valuer access through the agent. Once our valuation is done and the letter of offer is issued, your company can exchange without a finance clause as soon as the final contract is sent. Ask your solicitor whether any of your costs can be recovered if the sale does not go ahead.

• →Receivership and administration loans

Up to $770,000, which is 70% of $1,100,000, if our valuation is at least the price. After the $110,000 deposit, $990,000 is due at settlement, so about $220,000 plus stamp duty and costs has to come from the company's funds or another property it or a director owns. Send us the auction contract and the settlement date today, so our valuer can inspect the house in its current condition well inside the 30 days.

• →Urgent short term loans for auction purchases

It does not change how we assess the loan. Our valuers inspect the factory and value it as it is, in its current condition. With no warranties, your own checks matter more. Have your solicitor review the title and the contract, get a building report before you sign, and send the report to us so the valuer has it.

The loan is based on the lower figure. If our valuation is $1,300,000, the loan can be up to $910,000, which is 70% of $1,300,000, rather than $1,050,000 on the price, a difference of $140,000. That is why it helps to send us the details before you sign, so you know our valuation while there is still time to negotiate or add another property as security.

• →$2.8 million to settle a commercial purchase from a liquidator

About 9 to 12 months allows for the four months of work, a sale campaign and settlement after an exchange. Our terms run from 1 to 24 months, and we agree the repayment plan before settlement. If the sale is slower than planned, tell us early. A refinance once the repairs are done is the usual second option, so keep the repair invoices and photos ready for a valuer.

Yes. Another property you own can be added as security, within 70% across both. The warehouse supports up to $560,000, which is 70% of $800,000 if our valuation meets the price, and the unit adds up to $220,000, because 70% of $600,000 is $420,000 and $200,000 is already owing. That is up to $780,000 in total, secured by a first mortgage over the warehouse property and a second mortgage over the unit.

We cannot promise what a bank will lend, but you can test it before you buy. Ask a bank or broker what share of the value it lends on a leased shop of that type, apply it to the value you expect after the repairs, and compare the answer with our loan. If the bank figure is lower than our loan, plan now for the difference, from savings, another property or a sale. We look at the same plan before settlement.

We need to learn your scenario further. Our valuers inspect the property before we lend, so ask the liquidator's agent for an access time for our valuer before exchange, even a short one. If access is only possible after exchange, we tell you how that affects the settlement timing and the conditions in our offer, so you can decide before you sign.

We can aim to have it valued before Friday. Our in-house valuers usually inspect within a day or two, so send us the tender documents and the receiver's access times today. Once the valuation is done and terms are agreed, the conditions left in our offer are ones you control. If the timing is too tight for a valuation, we tell you plainly what we can confirm before Friday.

Yes. One loan can be secured by a first mortgage over both townhouses, up to 70% of their combined value or the total price, whichever is lower, with loans from $250,000. If you plan to sell one townhouse to repay part of the loan, tell us before settlement, because how the loan is repaid is agreed at the start.

Yes. Your company can be the borrower for a property it buys to repair and sell, because that is a business purpose. The first mortgage is over the house, and a director's property can be added as extra security within 70% if the company needs a larger loan. Send the contract, your repair budget and the sale plan, including who will sell the house and at what expected price.

• →Construction lending

We can work to most mortgagee and liquidator timelines, and same-day funding is possible depending on your scenario. Send the sale terms before you sign, so our valuer can inspect the property early.

• →$2.8 million settled within days on a liquidator sale
• →$250,000 funded in under 2 hours
• →$3.2 million funded in 24 hours

Yes, where the property has value in its current condition. The loan is based on that value, and the repair costs can be included as long as the total stays within 70%. We will want to see your repair budget and plan.

Yes. Receivers and liquidators usually set fixed timelines and sell the property as it is. We have funded purchases from liquidators within days, and we work to their settlement dates.

Yes. Interest can be capitalised, and council rates, insurance and other holding costs can be included, as long as the total stays within 70% of the property value. That means no monthly payments while the property earns no income.

Yes. Buyers of distressed property are often builders, trades or property businesses, and they need cash for materials, labour and holding costs between sales. We lend to construction and real estate businesses for working capital as well as purchases.

• →Construction lending
• →Working capital loans

No. We lend for business purposes only, such as a property you will rent out, repair and resell, or use for your business.

Our in-house valuers assess what the property would sell for today in its current condition. We do not lend on the value after repairs, but that value helps us understand your repayment plan.

Experience is not essential, but we will ask about it. If you are new to renovating or leasing, tell us who will manage the repairs or leasing and share your budget. A realistic plan and a sensible LVR make a strong application.