Keep it simple
| Loan Size: | $500,000 to $50,000,000 |
| Maximum Term: | 12 Months (extension possible) |
| Maximum LVR: | 75% |
Overview
At ASAP Finance we don’t do hurdles. Instead we apply sound business thinking and financial expertise to weigh up the merits of your individual lending needs. Stop wasting time and money trying to overcome restrictive conditions and talk to the team at ASAP Finance about how we can partner in your success.
For most applications, you won’t need to provide
- Pre-sale targets
- Valuations
- Progress Valuations/QS reports
- Fixed price contracts
- Full financial disclosure
- Strict servicing criteria
Rates & Fees
You’ll find that ASAP Finance interest rates are sensitive to the level of risk and loan term. Flexible repayment options and terms are available when you talk to us. Depending on the term of the loan, rates start from as low as 8.95%.
The only fee you’ll typically face is an application fee, typically between 2.25% and 3% (plus brokerage). There are none of the hidden fees or charges typically sought by other lenders.
- No minimum lending fees
- No early repayment fee subject to 30 days’ notice
- No site visit fees
- No administration fees
Legal Costs
You will receive a fixed quote for legal fees in your Letter of Offer. Typically, for a standard loan secured on a single residential property, this will be $2,000 including GST and disbursements.
Insurance
It is a condition of ASAP lending that you hold satisfactory insurance. The type of insurance will depend on the nature of your loan. For standard investment loans, replacement cost insurance will be necessary, while for builders and developers, wider insurance coverage such as contract works, and civil and statutory liability insurance may be required.
Where mortgage brokers are welcome and valued
As specialists and experts in their own right, ASAP Finance values its close working relationship with the mortgage broking community. ASAP Finance offers significant benefits to mortgage brokers who refer business. Mortgage brokers are critical to long term success.
Knowledge differential
Rather than drowning you in paperwork and queries, ASAP Finance assists mortgage brokers to structure good deals. In particular, ASAP Finance thrives on finding solutions for complex funding applications.
Zero claw-backs
ASAP Finance applies a no clawback policy even when the client refinances early – you keep your full commission. Standard commission rate is 1%.
Responsible lending – a client first approach
ASAP Finance will not fund projects that are expected to make a loss, even if the project meets standard lending criteria. Furthermore, if we believe your application is fundable by a bank, you will be referred to our property finance contacts at a mainstream New Zealand bank.
