LOW DOC EQUITY RELEASE
GOOD EQUITY IN YOUR HOME BUT YOU CAN'T USE IT?
Are you a business owner, self-employed or a contractor and have good equity in your property, but your cash flow is down and you want to release some equity to inject further capital into your business or consolidate your debts? And has your Bank said no? We have access to a number of low doc Non Bank equity release options, which can not only give you some much needed cash, but the opportunity to extend the term of your loan or mortgage and significantly reduce your monthly payments.
A common complaint we are hearing now is that Banks want all the sale proceeds from selling a property, making you re apply for you to access your own cash equity or, they refuse to release a security property in case you borrow against it elsewhere. Low doc loans can sometimes help you escape from the Banks.
A classic example is a situation where a couple in a very comfortable position, approached us requiring extra funds to continue the growth of their property portfolio, which was already at a level that they did not have day time jobs, this was then a problem with lenders. We approached a number of Banks who would not assist, but then arranged a $2.0m long term facility with a Non Bank lender at a good interest rate and they were overjoyed.
So we often help new clients, who have an excellent credit history with their Bank, but that Bank does not want to lend any more or has decided to reduce their facilities. The good news is, that we have Non Bank lenders who understand equity release for low doc situations with both short term and long term solutions. Self employed or no financials, equity release loans are our specialty, our lenders can say Yes when your Bank has said No.