Other services

Deposit Bonds

When you have found the right property and need a deposit to secure the purchase we can help by providing a deposit guarantee through the major supplier in the industry Deposit Power.

There are two types of bonds available, short term and long term.

Short term bonds usually require a loan conditional approval (with limited conditions). They are valid for up to 6 months and cost approximately 1.2% of the bond amount which usually corresponds with the 10% deposit required to exchange contracts. For example a $500,000 purchase would normally require a $50,000 deposit at exchange of contracts. The fee for using a deposit bond instead of a cash deposit would be 1.2% x $50,000 = $600

A long term bond is valid for purchases that will settle up to 4 years in the future. To qualify for a long term bond rather than a loan approval the applicants will have to have at least 50% of the purchase price as equity in an existing property. Long term bonds are very expensive. As an example a $500,000 purchase requiring a 10% bond for 3 years would cost around $5200.

Commercial property loans

We have access to major bank lenders as well as regional banks and non bank lenders for commercial loans. This means we can do not only full doc loans but also alternative, low doc and no doc style loans (with rental income supporting the loan).

Commercial Full Doc Loans

Full Doc loans require you to prove your historical income by providing personal and business tax returns and current lease agreements. The benefits of Full Doc loans are higher potential LVR’s and lower interest rates and fees.

Commercial Low Doc Loans

If you have a good tax accountant (or if you just haven't had your latest years tax returns completed) you may wish to consider a Low Doc commercial loan. If the loan repayments you are required to service are covered by a genuine lease payment you may be able to source close to full doc interest rates.

Recommended Northern Beaches Conveyancer

Beaches Conveyancing - Bryn Humphreys and team

02 83109280

https://beachesconveyancing.com/

Recommended Northern Beaches Financial Planner

Coastal Advisory - Jenny Simmonds, Martin Jakovics and team

Ph 02 9979 2001

https://coastaladvisory.com.au/