Private Mortgage Lenders – Pacific 8 Pty Ltd
Pacific 8 started in 2015 to offer private home mortgages to some variety of borrowers throughout the Australian Eastern seaboard. Currently, Pacific 8 has extended over $200 million of credit through third and fourth registered mortgages along with Caveat Loans.
Pacific 8 offers quick approvals, self-explanatory and streamlined procedures and moderate interest rates which are based and assessed on risk.
Pacific 8 currently operates under an AFSL (Australia Financial Services License) which is controlled by a 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 lessen systematic risk. For instance ,:
Registered first and or second mortgages
Deeds of priority
Caveats to shield 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 real-estate assets.
You should note that all loans are assessed by Pacific 8 internal credit committee and all sorts of documentation is verified by our lawyers and vetted by our responsible manager before credit might be settled.
Interest rates are placed by Pacific 8, having regard to factors such as the prevailing market rates, the type of loan, the type in the security provided, the credit terms and conditions, the identity with the Borrower (including loan servicing software and credit record) and other matters that Pacific 8 may consider relevant.By having an experienced management set up however, you might 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 range of Private Mortgages like First Ranking Mortgages, Second Ranking Mortgages, unregistered as well as Caveat Loans.
A Private Mortgage is traditionally funded coming from a private lender rather than bank or non-bank lender. In case your lender has declined to proceed, or doesn’t possess 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 estate. If there is sufficient equity inside the security we look more with the asset rather than previous issues you may of had.
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