Become a Lender!
Lending on Private Mortgages can be extremely profitable and rewarding. Easy-Settle Finance facilitates mortgage lending transactions between Lenders and Borrowers.
Who can be a Private lender?
Anyone can be a Private lender! If you have funds to invest and are looking for a great return (see below typical lending scenarios) private lending could be for you.
What risks are involved?
Your money is secured by a registered mortgage over real property (just like the banks). The higher the Loan to Value ratio (LVR) the more risk involved for the lender. A typical LVR in private lending situations is 75% of the property value. Due diligence and valuations assist in assessing the value of the security property.
Who prepares and registers my mortgage documents?
Private mortgages are called Solicitor loans for a reason, as all documents and security registration are done by a solicitor. Not just any solicitor can do mortgage security documentation, you need one who specialises in the field. The solicitor ensures your mortgage is secured the best way possible to eliminate any foreseeable risk. All solicitors’ fees are paid for by the borrower.
We recommend MacGregor O’Reilly Solicitors who have specialised in mortgage security work for over 35 years. Feel free to visit their website:
What requirements do I need?
There are minimal requirements for Private lenders. Licensing and registration are usually handled by your solicitor.
The following is a typical Private First Mortgage loan:
- Type: First Mortgage
- Security: Residential, Commercial & Vacant Land
- Location: Metro QLD, NSW & VIC. Other areas considered on application.
- Loan Amount: $20,000.00 – $2,000,000.00. Other amounts subject to application.
- Rate: 9.5% per annum to 12.5% per annum***
- LVR: Up to 75%
- Loan type: Interest Only
- Term: 1-2 years
- Lenders fees: Acceptance fee $500.00, Establishment fee 1% of loan amount
The following is a typical Private Second Mortgage loan:
- Type: Second Mortgage
- Security: Residential, Commercial & Vacant Land
- Location: Metro QLD, NSW & VIC. Other areas considered on application.
- Loan Amount: $20,000.00 – $2,000,000.00. Other amounts subject to application.
- Rate: 2% per month to 4% per month***
- LVR: Up to 75%
- Loan type: Interest Only
- Loan Term: 3-9 months
- Lenders fees: Acceptance fee $500.00, Establishment fee 1.5% of loan amount
Call us now on 1300 730 267 to discuss your situation. Or alternatively send us an email and we will reply shortly.