Private Lenders – Pacific 8 Pty Ltd
Pacific 8 was established in 2015 to supply private mortgage loans into a array of borrowers throughout the Australian Eastern seaboard. Up to now, Pacific 8 has extended over $200 million of credit through second and third registered mortgages as well as Caveat Loans.
Pacific 8 offers quick approvals, simple and streamlined procedures and moderate rates which are 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 have been adopted by Pacific 8 to cut back 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 real estate assets.
It is very important observe that all loans are assessed by Pacific 8 internal credit committee and documentation is verified by our lawyers and vetted by our responsible manager before a loan might be settled.
Interest rates are placed by Pacific 8, having regard to factors such as the prevailing market rates, the loan, the nature with the security provided, the borrowed funds stipulations, the identity with the Borrower (including loan servicing and personal credit record) along with other matters that Pacific 8 may consider relevant.With an experienced management set up however, you might 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 a variety of Private Mortgages including First Ranking Mortgages, Second Ranking Mortgages, unregistered along with Caveat Loans.
A personal Mortgage is traditionally funded from a private lender rather than bank or non-bank lender. If 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 consider the underlying asset being property. If you find sufficient equity within the security we look more on the asset rather than the previous issues you may of had.
For details about Caveat Loans check our new web page.