FAQS

A caveat is a form of statutory injunction provided for under the Real Property Act 1900. When a Caveat  is lodged at a Titles office, it effectively prevents the registration of any dealing (except for some statutory exceptions and any specifically permitted dealings) until the:

• Caveat is formally withdrawn. The caveator or their solicitor must sign a Withdrawal of Caveat which must be lodged at the Titles office, or
• Caveat lapses because the interest claimed under the Caveat is satisfied by the registration of another dealing; or 
• Caveat lapses after action taken following the lodgment of an Application for Preparation of Lapsing Notice. The Application is lodged by or on behalf of the registered proprietor of the land or a registered interest, or 
• the Caveat is removed by an order of court, or
• Caveator consents, in writing, to the registration of the other dealing. In this case, the Caveat remains on title, a notification that the caveator consented to registration is entered and the other dealing is registered.

The minimum loan is $ 10,000 and the maximum loan is 75% of the market value of your property minus the value of any existing mortgages. 

You need to have a fair idea of the market value of your property and the precise value of any existing mortgage and / or caveats. We are one of the few lenders who do NOT require an application form completed. Our loan officers can assess an application over the phone but will require the following documents to complete their assessment:

• At least 3 months recent mortgage statement
• A recent rates notice or a copy of the Titles Deed
• 3 months recent bank statement (for your every day account)
• Photo ID (Driver's License or passport)
• 2 utility bills in your name to your home address (gas, electricity or telephone etc.)
• Proof of income and / or exit strategy (how you intend to repay the loan)
• Proof of building insurance
• An ABN number for business borrowers

You can borrow the funds for any use, business or personal, although a business use is favoured.

Caveat loans are designed for short-term use, 1-6 months. You can repay at any time. If you require a loan for a longer period please consider a personal loan, or visit our 'Mortgages' section to check the availability of and eligibility for a longer term 2nd mortgage. We will still be able to lend you funds quickly, for a short period, provided we can replace the loan with something more suited to your needs thereafter.

In exceptional circumstances we can arrange drawdown within 4 hours of application, but we need to rely on the applicant to provide documentary support as quickly as possible. Ordinarily drawdown can be arranged within 24 hours and in difficult cases it may take 72 hours.

The rate of interest depends upon the risk and can only be determined at application. But the lowest rate, for the lowest risk, is 2.8% per month.

For longer term loans we may require a lodged mortgage but we do nothing without the borrower's prior written permission. When a mortgage is lodged it is always performed with utmost consideration for the borrower and if an existing mortgage exists, great care is taken to ensure that nothing occurs to affect the relationship between borrower and the primary mortgagee.

There are no admin fees or set up fees. There is an out-of-pocket legal fee which is charged for the lodgement of caveat and / or mortgaqe and stamp duty. This fee is determined by the amount borrowed and is quoted at the time of application. For high LVR loans there may be a valuation fee which is also related to the value of the property but will average about $ 350. You will find our fees are among the lowest in the market.

You can apply on-line or you can call us for an over-the-phone assessment and free quote.