Pacific 8 Pty Ltd has built its business around Private Mortgage lending and offer a range of Private Mortgages such as First Ranking Mortgages, Second Ranking Mortgages, unregistered as well as Caveat Loans.
A Private Mortgage is traditionally funded from a private lender instead of a bank or non-bank lender. If your bank or lender has declined to proceed, or doesn’t have the turnaround times suitable Pacific 8 Pty Ltd may be able to offer you a “Private Mortgage”.
When assessing a “Private Mortgage” application we primarily look at the underlying asset being real property. If there is sufficient equity in the security we look more at the asset rather than the previous issues the borrower may of had.
Latest Funded Private Mortgage:
Loan Amount: $1,350,000
Security Type: Rural
Purpose purchase business
Private Mortgage FAQ
Loans are assessed immediately and if everything is in order, we can settle within 3 days.
If you were with a bank it would take weeks to get your loan looked at.
We only lend against real property i.e. Bricks & Mortar. We lend money against property when the banks can’t.
Timeframes with banks are mostly lengthy and unacceptable.
We provide funding to assist people with their short-term finances.
Possible purposes are:
- Purchase a business
- Buy stock
- Pay tax or other work-related expenses e.g. wages, legal fees, advertising etc
- Business repairs and maintenance capital
- Bridging the unexpected “gap”
- Fund a commercial or industrial property purchase when the bank cannot settle in time
- We only lend to people who have an ABN with the loan being for business purposes.
- The loan purpose must be predominantly for any worthwhile business and or investment purpose.
- As long as you have an ABN and have real estate security we can look at assisting.
- The loan purpose must be predominantly for any worthwhile business and or investment purpose. See “What do I need to qualify for a private mortgage?”
- Types of borrowers that do not qualify for a loan from Pacific 8 include borrowers that require funds to acquire or refinance a residential property.
Our loans range from 3 months to 24 months and we start at $300,000 up to $20 million.