Private Mortgage Lenders – Pacific 8 Pty Ltd
Pacific 8 started in 2015 to supply private mortgage loans into a array of borrowers across the Australian Eastern seaboard. Thus far, Pacific 8 has extended over $200 million of credit through third and fourth registered mortgages along with Caveat Loans.
Pacific 8 offers quick approvals, simple and streamlined procedures and moderate rates which might be based and assessed on risk.
Pacific 8 currently operates under an AFSL (Australia Financial Services License) and is also 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 scale back systematic risk. Such as:
Registered first as well as second mortgages
Deeds of priority
Caveats to safeguard against pending formal registration
Account Management together 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
Mortgages 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 real-estate 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 rates are placed by Pacific 8, having regard to factors such as the prevailing market rates, the kind of loan, the type of the security provided, the credit terms and conditions, the identity with the Borrower (including loan servicing and credit record) along with other matters that Pacific 8 may consider relevant.With an experienced management set up however, you are assured of speedy approval and processing of your respective loan.
Private Mortgage
Pacific 8 Pty Ltd has built its business around Private Mortgage lending and provide a selection of Private Mortgages for example First Ranking Mortgages, Second Ranking Mortgages, unregistered along with Caveat Loans.
An individual Mortgage is traditionally funded from a private lender rather than 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 may be able to will give you “Private Mortgage”.
When assessing a “Private Mortgage” application we primarily look at the underlying asset being property. If you find sufficient equity within the security we glance more with the asset instead of the previous issues the borrower may of had.
To read more about Second Registered Mortgage just go to our website.