Borrowers

borrower-chart

Loan Application and Approval

Platinum will fund loans on commercial and residential security. The type of security we will lend upon is as follows:
1. Commercial income producing security;
2. Commercial and Residential Property Development. We have extensive experience in this area; and
3. Residential security that is not subject to the consumer credit code.
We do not intend to lend on specialised security, vacant land, sub divisions or non-income producing security.

Our maximum loan to value ratio is 70%.

All loan applications are referred to a Director. Due to the size of the company, we have placed a stringent credit approval process in place.

Each application for funding will include the following;
a. Completed Platinum application Form;
b. S21 Identification form along with 100 points of ID;
c. Assets and Liabilities Statement;
d. Signed Privacy Act consent form; and
e. Past two years financials that support the serviceability of the loan.
Construction loans require a detailed feasibility along with a pre-determined number of pre-sale requirements.

Each loan must have an independent valuation that is instructed by Platinum and, where a construction facility is approved, we will use a Quantity Surveyor.

On completion of the analysis of an application, including the valuation and financial audit, the loan application will be reviewed by the Compliance Committee for final review and sign off.

Types of Security