Eastwood Securities - Application Process

Eastwood Securities Loan Application Review Process

What we do:

• Funding for any legitimate purpose
• Interest only loans
• Consumer regulated loans
• Commercial & Industrial loans
• Rural loans
• Bridging loans for business & consumer
• Debt consolidation loans
• Pay out receivers and company administrators
• Cash – out loans
• Fund completion of properties under construction
• Fund land divisions
• Fund small land banks (close to urban areas)
• Fund residual stock
• LVR’s up to 70%
• Mid term loans for 3 months to 24 months
• Funding in all post codes
• Loans secured against;
  • Vacant land,
  • Improved land,
  • Rural with houses & shedding
  • Specialised security where there is an ‘alternate use’
• Consider all income sources, including irregular income

What we don’t do:

• Lend against non-real estate assets
• Provide second mortgages
• Principle & Interest Loans
• Loans for less than $100k
• Loan terms less than 3 months
• Loan terms greater than 24 months
• LVR’s greater than 70%
• Loans without a valuation

Eastwood Securities Loan Application Review Process

What are we looking for;

1. Application/Scenario;
2. Appropriate loan purpose
3. Security (Real Estate)
4. Serviceability
5. Assets & Liabilities
6. Exit strategy (we are providing short to medium term funding)

1. Application Scenario

• A brief description of what the applicant is trying to achieve

2. Loan purpose

• Verifiable loan purpose

3. Security property

• Property type
• Property address
• Estimated market value

4. Debt servicing and financial information

• Last 6 months Bank Statements (Mortgage & Transaction)
• PLUS any or all of:
  • Financial Statements
  • BAS
  • Tax Returns
  • Lease & Rental Income
  • Payslips
  • Considered Accountant prepared Forecasts and Declarations
• Where there is significant equity and a solid exit strategy, Interest can be capitalised

5. Assets & Liabilities
   • List all assets & liabilities held personally and in related entities

6. Exit strategy

• Sale of real assets
• Refinance (will need to demonstrate strong serviceability)
• Some other legitimate source of Funds that can be evidenced