Private Mortgage brokers – Pacific 8 Pty Ltd
Pacific 8 started in 2015 to offer private mortgage loans to a selection of borrowers throughout the Australian Eastern seaboard. To date, Pacific 8 has extended over $200 million of credit through third and fourth registered mortgages along with Caveat Loans.
Pacific 8 offers quick approvals, straight forward and streamlined procedures and moderate rates that are based and assessed on risk.
Pacific 8 currently operates under an AFSL (Australia Financial Services License) and is controlled by way of a RM (Responsible Manager).
We operate under an Australian Financial Service Licence No. 480508.
Lending Standards
Conservative lending standards happen to be adopted by Pacific 8 to reduce systematic risk. Included in this are:
Registered first as well as second mortgages
Deeds of priority
Caveats to guard against pending formal registration
Account Management with The Mortgage Office™ Software
Experienced Management Team
Controlled by an ASIC approved Responsible Manager
Maximum Ltv Ratio of 75%
Personal Property Security Register (PPSR)
No consumer lending
Personal & Corporate Guarantees
ASIC Compliant
Home loans and Management
Pacific 8 will think about 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 property assets.
You should observe that all loans are assessed by Pacific 8 internal credit committee and many types of documentation is verified by our lawyers and vetted by our responsible manager before financing could be settled.
Interest levels are placed by Pacific 8, having regard to factors for example the prevailing market rates, the type of loan, the nature with the security provided, the loan stipulations, the identity with the Borrower (including loan servicing software and personal credit record) as well as other matters that Pacific 8 may consider relevant.With an experienced management in position however, you happen to be assured of speedy approval and processing of the loan.
Private Mortgage
Pacific 8 Pty Ltd has generated its business around Private Mortgage lending and provide an array of Private Mortgages such as First Ranking Mortgages, Second Ranking Mortgages, unregistered in addition to Caveat Loans.
A Private Mortgage is traditionally funded from the private lender rather than bank or non-bank lender. If the lender has declined to proceed, or doesn’t hold the turnaround times suitable Pacific 8 Pty Ltd could possibly will give you “Private Mortgage”.
When assessing a “Private Mortgage” application we primarily go through the underlying asset being real property. When there is sufficient equity in the security we look more on the asset rather than previous issues the borrower may of had.
For more information about Private Mortgage Lender check out our net page.