Frequently Asked Questions
What is a Caveat Loan?- It is a very fast short-term loan secured against Real Property, which must be used wholly or predominately for business and investment purposes.
- What type of security do you accept?
- All short-term finance offered by Versara must be secured against Real Property. We will consider other forms of security on a case-by-case basis.
- Do you accept only certain types of properties as security?
- No. We consider all properties and land Australia wide regardless of construction, type or use. Residential, rural residential, acreage, commercial, industrial, and vacant land.
- Is there a maximum LVR ratio?
- Yes. The maximum LVR ratio we offer is 75%. LVR’s will be adjusted according to the type of security offered and where it is located.
- What is your maximum loan amount?
- We have no ceilings or caps however the loan amount offered is dependent on the amount of security provided by the borrower. Funding is generally secured up to a 75% LVR based on an independent valuation.
- What is your minimum loan amount?
- $25,000 Nett
- Do you charge upfront application or establishment fees?
- No.
- Are there any exit fees or early out penalties?
- No.
- How long can I take a loan for?
- Loan terms are 1 to 6 months. Caveat loans are designed for short term funding purposes however we can arrange variations to the loan if longer periods are necessary.
- How long does it take to settle a loan?
- Each scenario is reviewed on a case-by-case basis however if all necessary documentation is supplied in an accurate and timely manner, loans can settle within 3-4 days from receipt of valuation.
- How do you fund the short-term loans?
- All funding is secured through private investment.
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