Loans up to $1,500,000.00
LVR up to 80% of the “as is” value (terms and conditions apply)
Rates from 1% per month up to 2% per month
Loan Terms between 1 month to 2 years
- Residential properties in metropolitan areas
- Rural / Residential properties (population over 50,000)
- Commercial properties
- Industrial properties
- Vacant Land (in metropolitan areas only, LVR up to 75%)
- Development sites (subject to terms and conditions)
Acceptable Loan Purposes:
Payment of business debts
Taxation payments for businesses
Purchase of investment property
Purchase of shares
Personal use of funds
NB Prime will require all borrowers to provide in writing the purpose of the loan funds.
Conditional approval can be granted within 1 hour.
Formal approval will be granted when all prerequisites above have been satisfied and Prime’s Application Form and Declaration Forms are completed in full and correctly. Original Forms and all other corresponding documents must be returned to Prime prior to issuing mortgage documents.
Prime will require all borrowers to provide in writing details of their proposed exit strategy for the repayment of our loan.