Private Mortgage Lender
Private Mortgage Lenders – Pacific 8 Pty Ltd
Pacific 8 was established in 2015 to offer private home loans into a selection of borrowers over the Australian Eastern seaboard. To date, Pacific 8 has extended over $200 million of credit through third and fourth registered mortgages and also Caveat Loans.
Pacific 8 offers quick approvals, easy and streamlined procedures and moderate interest levels which are based and assessed on risk.
Pacific 8 currently operates under an AFSL (Australia Financial Services License) and is also controlled with a RM (Responsible Manager).
We operate under an Australian Financial Service Licence No. 480508.
Lending Standards
Conservative lending standards have already been adopted by Pacific 8 to scale back systematic risk. Included in this are:
Registered first and or second mortgages
Deeds of priority
Caveats to protect against pending formal registration
Account Management together with the Mortgage Office™ Software
Experienced Management Team
Controlled by an ASIC approved Responsible Manager
Maximum Loan to Value Ratio of 75%
Personal Property Security Register (PPSR)
No consumer lending
Personal & Corporate Guarantees
ASIC Compliant
Home loans and Management
Pacific 8 will consider the following: 1st registered mortgages, 2nd registered and unregistered mortgages, Caveat loans, mezzanine finance and Equity loans – all being secured over residential, commercial, retail and/or industrial real estate property assets.
It is important to be aware that all loans are assessed by Pacific 8 internal credit committee and documentation is verified by our lawyers and vetted by our responsible manager before financing could be settled.
Interest levels are set by Pacific 8, having regard to factors like the prevailing market rates, the kind of loan, the type with the security provided, the money terms and conditions, the identity in the Borrower (including loan servicing and credit history) as well as other matters that Pacific 8 may consider relevant.With an experienced management available however, you happen to be assured of speedy approval and processing of one’s loan.
Private Mortgage
Pacific 8 Pty Ltd has generated its business around Private Mortgage lending and gives an array of Private Mortgages for example First Ranking Mortgages, Second Ranking Mortgages, unregistered and also Caveat Loans.
A personal Mortgage is traditionally funded coming from a private lender as opposed to a bank or non-bank lender. If your lender has declined to proceed, or doesn’t have the turnaround times suitable Pacific 8 Pty Ltd just might will give you a “Private Mortgage”.
When assessing a “Private Mortgage” application we primarily look at the underlying asset being real property. If you find sufficient equity inside the security we glance more in the asset as opposed to the previous issues the borrower may of had.
More information about Mezzanine Finance explore this useful site.