“NON-CONFORMING” (or “no doc”)
While PMCS primary business focus remains in the “home office” private mortgage loan space, our supplementary “non-conforming” product has a couple of substantial improvements (and one change unfortunately brought about by the RBA). Our current loan interest rates for both products are set out below.
Non-conforming residential loan limits have increased to $3.50M loan per security (up from $2.00M) with a maximum exposure per borrower of $5.00M (unchanged from the previous limit). In both instances, where a particular transaction is very strong, we can consider facilities above those limits.
We are now also able to consider loans of up to $750,000 secured by commercial property.
Current Non-conforming Interest Rates for Existing Residential Investment Dwellings
LVR Variable Fixed (1 year – up to 3 years available)
65% 9.70% pa 9.95% pa (standard quality proposals)
70% 10.15% pa 10.45% pa
75% 10.75% pa 11.00% pa
Establishment fee 2.00% + valuation + legal fees
"Home Office" PRIVATE (generally “bridging” loans)
LVR Variable Fixed (1 year)
65% 8.00% pa 8.00% pa (Class A proposals in limited locations)
Standard rates up to 70% LVR presently range from 10%pa -12.00%pa, with fees negotiable depending on urgency, location and the nature of the deal). Development funding may also be considered.
I look forward to discussing any scenario with you.
Steven Acworth
+61 488 224416
Email steven@sma.fund
