Private Banks – Pacific 8 Pty Ltd
Pacific 8 started in 2015 to deliver private mortgages to a variety of borrowers throughout the Australian Eastern seaboard. Currently, Pacific 8 has extended over $200 million of credit through first and second registered mortgages along with Caveat Loans.
Pacific 8 offers quick approvals, self-explanatory and streamlined procedures and moderate rates of interest which can be based and assessed on risk.
Pacific 8 currently operates under an AFSL (Australia Financial Services License) and is also controlled by the RM (Responsible Manager).
We operate under an Australian Financial Service Licence No. 480508.
Lending Standards
Conservative lending standards have already been adopted by Pacific 8 to scale back systematic risk. For instance ,:
Registered first and or second mortgages
Deeds of priority
Caveats to protect against pending formal registration
Account Management using the Mortgage Office™ Software
Experienced Management Team
Controlled by an ASIC approved Responsible Manager
Maximum Loan to Value Ratio of 75%
Personal Property Security Register (PPSR)
No consumer lending
Personal & Corporate Guarantees
ASIC Compliant
Home mortgages and Management
Pacific 8 will consider 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 will need to remember 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 credit can be settled.
Rates of interest are set by Pacific 8, having regard to factors like the prevailing market rates, the kind of loan, the nature from the security provided, the credit stipulations, the identity of the Borrower (including loan servicing and credit score) and also other matters that Pacific 8 may consider relevant.With the experienced management in position 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 provide a selection of Private Mortgages such as First Ranking Mortgages, Second Ranking Mortgages, unregistered in addition to Caveat Loans.
An exclusive Mortgage is traditionally funded from your private lender rather than bank or non-bank lender. In case your bank or lender has declined to proceed, or doesn’t possess the turnaround times suitable Pacific 8 Pty Ltd might be able to will give you a “Private Mortgage”.
When assessing a “Private Mortgage” application we primarily consider the underlying asset being real property. If there is sufficient equity inside the security we glance more in the asset as opposed to the previous issues you may of had.
More details about Second Registered Mortgage please visit resource: look at here.