Caveat loans are loans that are lent to the borrower, under the premise that a ‘caveat’ is taken to secure the loan. Caveats are collateral taken to secure the loan, and are often pieces of real estate such as land or a house. Caveat loans differ from a mortgage because the house owner cannot make certain decisions to do with the real estate (such as selling or transferring ownership), whereas with a mortgage property owners have full control over what they can do with their property. Caveat loans can also be more flexible in terms of repayment, and don’t have to be paid back at monthly or fortnightly intervals. The Universal Finance Loan Specialists offer caveat loans, and there are a number of benefits that can come from this type of lending.
- Their rates are the one of the lowest in Australia: While some companies offer such types of loans with rates of 3 or 4%, Universal Finance offers caveat loans at a low rate of 0.79% – saving you money on your repayments.
- The approval process is quick and simple: With Universal Finance, your loan can be approved in as soon as 15 minutes over the phone. Most loans are fully approved within the same day of application, with no proof of income or tax returns required.
- Loan terms can be flexible: Universal Finance is flexible with its loan terms, and can offer such loans anywhere in Australia. As well as this, the terms can be up to 36 months, and payments can either be paid a month in advance or can be pre-paid or capitalized into the loan amount. No valuation is required either, which makes it a lot more simple and quick to receive the loan approval and offer, nor are there any upfront fees or heavy paperwork.
Overall, Universal Finance offers the lowest Caveat Loan rates of Australia, and the most succinct service – with most applications getting approved within 24 hours. Their consultants are confident and knowledgeable, and can help you to get the type of loan most suitable to you. They beat all other companies on price, speed, and expertise – so don’t hesitate to get in contact today to sign up for your caveat loan!