Designed for homeowners with an unconditional sale on their current property, but who need an equity release now.
When you have sold your home it can be frustrating to have to wait to get the proceeds from the sale, especially when you could really do with having some of the equity released a bit earlier.
You have a sale, so anyone will know that you will be getting the equity out of the house.
It may just be that you need to wait a while – normally.
There are a number of reasons that you and the good thing about equity Now is they are not going to question ‘why’ you want the money.
Welcome to equity Now — providing Equity Release Loans
We have seen people stuck waiting for their sale to complete before they’ve been able to do anything with the proceeds, and that can be super frustrating.
So often the sale of a home means a fresh start and so you want to get on with it.
You might want the equity now for a deposit on the next house purchase, to clear your debts, pay your ex-partner or something a bit more fun like travel or a new car. The good thing with equity Now is you can access money from your house sale now.
No Credit Checks
We underwrite on property value and existing equity to keep the process credit check free.
Funds in 48 Hours
Approval and funding within 48 hours so homeowners never miss their next opportunity.
Up to 80% of the House Sale Price
Borrow from $15,000 to $250,000 against your client’s home equity.
No Repayments
The loan is repaid when your sale completes (on settlement) and that includes the fees and interest.
What’s The Cost?
There is no upfront costs or valuations as the house has an established value with the unconditional sale, but there is a establishment fee of $500 – $1,250 depending on the loan size and the interest is charged at the equivalent of 24% pa but charged daily.
Loans can be for a maximum of 6-months, but most are a lot less than this and so the interest cost is typically quite reasonable.
The good thing is you will know all the costs before you commit to any lending.
Note: Mortgage Managers receives a small referral fee from equity Now.
