MANGO CREDIT & MANGO MORTGAGES
THE SIMPLE WAY TO SECURE SHORT TERM FINANCE
Mango Credit Australia & 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, second or first 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, second or first 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 Australia & 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.
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.