Private Banks – Pacific 8 Pty Ltd
Pacific 8 started in 2015 to deliver private mortgage loans with a variety of borrowers across the Australian Eastern seaboard. Thus far, Pacific 8 has extended over $200 million of credit through first and second registered mortgages as well as Caveat Loans.
Pacific 8 offers quick approvals, straight forward and streamlined procedures and moderate rates of interest which might be based and assessed on risk.
Pacific 8 currently operates under an AFSL (Australia Financial Services License) which is 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 reduce systematic risk. Included in this are:
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
Home loans 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 property assets.
You should remember that all loans are assessed by Pacific 8 internal credit committee and all documentation is verified by our lawyers and vetted by our responsible manager before financing can be settled.
Rates of interest are set by Pacific 8, having regard to factors including the prevailing market rates, the kind of loan, the of the security provided, the borrowed funds terms and conditions, the identity in the Borrower (including loan servicing software and credit score) and also other matters that Pacific 8 may consider relevant.With an experienced management available however, you might be assured of speedy approval and processing of the loan.
Private Mortgage
Pacific 8 Pty Ltd has produced its business around Private Mortgage lending and provide a variety of Private Mortgages for example First Ranking Mortgages, Second Ranking Mortgages, unregistered and also Caveat Loans.
A personal Mortgage is traditionally funded coming from a private lender rather than a bank or non-bank lender. Should your lender has declined to proceed, or doesn’t have the turnaround times suitable Pacific 8 Pty Ltd just might will give you a “Private Mortgage”.
When assessing a “Private Mortgage” application we primarily look at the underlying asset being property. If you have sufficient equity from the security we glance more on the asset as opposed to the previous issues the borrower may of had.
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