Brokers

MANGO CREDIT & MANGO MORTGAGES

THE SIMPLE WAY TO SECURE SHORT TERM FINANCE

Mango Credit & Mango Mortgages provides a range of financial solutions for personal and business borrowers, which are tailored to meet your client’s specific objectives and circumstances.

Submit a Scenario

Bridging loans for personal use

  • $25K – $500K+
  • By caveat, 2nd or 1st mortgage
  • Funding typically within 3 – 5 days from application
  • Loan terms from 2 to 24 months+
  • Available Australia-wide
  • No credit check or income assessment
  • Minimal documentation
  • Real estate backed (residential real estate required to obtain a loan)
  • Flexible underwriting
  • NCCP compliant
  • Australian Credit Licence 422165 (Mango Mortgages Pty Ltd)
  • Fully regulated by ASIC with the extra protection of AFCA membership (Mango Mortgages only)

Short term business loans for commercial and / or investment purposes

  • $25K – $500K+
  • By caveat, 2nd or 1st mortgage
  • Funding typically within 3 – 5 days from application
  • Loan terms from 2 to 24 months+
  • Australia-wide
  • No credit check or income assessment
  • Minimal documentation
  • Real estate backed (residential, commercial, industrial or rural real estate required to obtain a loan)
  • Flexible underwriting

Loan Structure

AMOUNT $25K – $500K+
TERMS 2 – 24 months+
RATES Assessed individually based on loan amount, term and risk
INTEREST Paid in advance (capitalised) or arrears
LOCALE Metropolitan and country areas Australia-wide
SECURITY Commercial, residential and rural security considered
VALUATIONS An independent valuation may be required
BROKERAGE To be advised by the broker at time of application

Security

Mango Credit & Mortgages loans are an equity-based. Commercial, residential and rural security are considered. All properties offered for security purposes must meet valuation requirements, and all insurances must be current.

RESIDENTIAL PROPERTY

ASSET AREA MAX LVR up to
Houses metro 70% LVR
Houses Greater metro 70% LVR
Houses Regional 65% LVR
Units metro 65% LVR
Units Greater metro 65% LVR
Units Regional 65% LVR
Land Unimproved 50% LVR

RURAL PROPERTY

ASSET AREA LVR
All All areas 50% LVR

COMMERCIAL PROPERTY

ASSET AREA MAX LVR up to
Retail metro 70% LVR
Retail Greater metro 70% LVR
Retail Regional 65% LVR
Commercial metro 70% LVR
Commercial Greater metro 70% LVR
Commercial Regional 65% LVR
Industrial All areas 70% LVR
Industrial Land 50% LVR

How it Generally Works

  • 1You submit a scenario by phone, email, online Application Form, PDF download “here” or we can accept your own branded Application Form.
  • 2We email an indicative quote detailing the loan structure, interest rate, costs & documents required.
  • 3If you and your client are happy with the above, we issue a formal letter of offer that details the proposed loan particulars, security and your nominated brokerage fee.
  • 4If the borrower wishes to proceed, you return the offer signed and dated by the borrowers along with the requested documents.
  • 5We instruct our solicitors to issue the security documents ASAP, which is usually by the next day, to the borrower’s solicitor for their execution and return. We also order a valuation at this time if one is required.
  • 6Once our solicitors have received the security documents returned correctly executed, the loan is settled that day or the next, by electronic transfer as cleared funds. Your brokerage fee is paid at settlement.
How it works left image How it works right image

Client Checklist

To help speed things up, please ask your client to get together:

1. Their most recent council rate notice

2. Their most recent existing mortgage statement

3. A summary of their loan purpose

4. For business loans, their ABN or ACN

Scanned documents, screen shots from your computer, or photos taken on your phone, will be accepted.