What to look for when choosing a caveat lender
Caveat loans are short term, property secured solicitor loan products that provide cash flow options for businesses or individuals. They are suitable for a variety of different liquidity problems or just for providing some quick extra funds to ensure a project runs smoothly on schedule.
Caveat loans are geared towards solving cash flow problems, so its vitally important that your caveat lender has the experience, connections and resources to get your loan processed quickly. Here are some other things you must know before you choose a caveat lender:
What is a caveat?
A caveat is a legal instrument that is used to protect an interest over the property given as security for the loan. If you have a caveat over a piece of real property, you will be unable to transfer title to that property to anybody else until the caveat is lifted and the debt is paid off.
It is a common misconception that if you have a bank mortgage that your bank will absolutely not allow you to take out a caveat loan. Your bank will typically have no objection to a caveat interest being taken out over your property provided you write to them in advance. In this case, we can offer expert advice about your financial situation and how to approach your bank to obtain a caveat loan.
You need a solicitor, and so does your caveat lender
Caveat loans, like many other private loan products require a solicitor. This is done for both your protection and the lenders protection, and to promote certainty and clarity in the transaction. With this in mind, you need to ensure that your caveat lender isn’t using just anybody. You should use a reputable solicitor that specializes in private loan products.
If you have a project that could use a quick, short term injection of funds or have an urgent deadline; send us an obligation free enquiry and we will endeavor to make your loan experience a quick and easy one!
[mailpress_form id=’3′]