Private Lenders – Pacific 8 Pty Ltd
Pacific 8 started in 2015 to deliver private home loans with a variety of borrowers over the Australian Eastern seaboard. Up to now, Pacific 8 has extended over $200 million of credit through third and fourth registered mortgages as well as Caveat Loans.
Pacific 8 offers quick approvals, self-explanatory and streamlined procedures and moderate rates which can be based and assessed on risk.
Pacific 8 currently operates under an AFSL (Australia Financial Services License) which is controlled with a RM (Responsible Manager).
We operate under an Australian Financial Service Licence No. 480508.
Lending Standards
Conservative lending standards have been adopted by Pacific 8 to lessen systematic risk. These include:
Registered first and even 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
Mortgage 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.
It is important to be aware 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 might be settled.
Rates are positioned by Pacific 8, having regard to factors for example the prevailing market rates, the loan, the character in the security provided, the loan fine print, the identity of the Borrower (including loan servicing and credit score) along with 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 your respective loan.
Private Mortgage
Pacific 8 Pty Ltd has generated its business around Private Mortgage lending and offer a selection of Private Mortgages including First Ranking Mortgages, Second Ranking Mortgages, unregistered in addition to Caveat Loans.
An exclusive Mortgage is traditionally funded coming from a private lender instead of a bank or non-bank lender. In case your bank or lender has declined to proceed, or doesn’t have the turnaround times suitable Pacific 8 Pty Ltd could possibly provide you with a “Private Mortgage”.
When assessing a “Private Mortgage” application we primarily go through the underlying asset being real estate. If there is sufficient equity within the security we glance more with the asset as opposed to the previous issues the borrower may of had.
To get more information about Second Registered Mortgage please visit site: look at here.