Need funds to settle a property purchase?

Property contracts have hard dates. Settlement is fixed in the contract, and if the buyer is not ready, the seller can usually charge penalty interest and issue a notice to complete. Push it too far and the deposit itself can be at risk. When a business is buying premises, a development site or an investment property and its finance is late or short, the cost of missing settlement can dwarf the cost of a short loan.

Why business property settlements wobble

• The main lender’s valuation comes in lower than the price, leaving a shortfall.
• The lender’s approval has conditions that will not be met in time.
• Funds from a sale of another property are delayed.
• Stamp duty or other settlement costs were underestimated.
• A co-buyer’s finance falls through.

The fastest fixes

Problem	Fast solution
Shortfall between loan and price	Second mortgage or caveat over another property
Main lender cannot settle in time	Bridging loan, then refinance to the main lender
Waiting on sale proceeds	Bridging against the property being sold
Underestimated duty or costs	Short-term funding against existing property

Our property-secured loans need no valuation, so they avoid the very step that often causes the shortfall. Approval within the hour is common, and funds within 24 hours is possible once all owners sign. See fast bridging finance for the full picture.

When the clock matters more than the reading, send your enquiry first. It takes about 60 seconds.

Work closely with your conveyancer

Your conveyancer or solicitor runs the settlement. Tell them as soon as there is a problem, and introduce them to the new lender early. They will need settlement figures, the funding lender’s details and to coordinate on PEXA, the electronic platform used for most property settlements in Australia. The earlier everyone is talking, the smoother the day goes. Our guide to settlement day explains each step.

Check the costs beyond the price

State stamp duty, registration fees, adjustments for rates and outgoings, and the lender’s own costs can add up to a substantial amount on a commercial purchase. Check your state revenue office’s duty calculator and ask your conveyancer for an estimated settlement statement early, so you are not caught short on the day.

A worked example (illustrative)

An engineering firm is buying its factory from its landlord for $1.6m, settling in 12 days. The bank’s valuation comes in below the contract price, and the bank reduces its loan, leaving a $210,000 gap. The directors offer their home as security for a second mortgage business loan, are approved the same morning with interest added, and the conveyancer adds the funds to the settlement on PEXA. Settlement happens on time, and the directors plan to repay once the bank reviews the facility after a year.

What to have ready

The fastest approvals happen when this list is ready to send in one reply:

• Contract of sale and settlement date
• Main lender’s approval and any conditions
• Estimated settlement statement from your conveyancer
• Details of the property offered as security
• ID for all owners and guarantors

Speed bumps to avoid

In our experience, delays usually come from one of these:

• Telling the conveyancer late
• A security property owned by people who are travelling
• Underestimating stamp duty and adjustments
• Waiting for the main lender to reconsider

One request before you enquire

The enquiry takes about 60 seconds, and those 60 seconds decide how smoothly everything after it goes. Accurate figures for revenue and the amount, a straight answer about credit history and a clear yes or no on property mean the assessor can move straight to the decision. Guesswork means rework, and rework is the enemy of a 24-hour turnaround.

The short version

• Late or short finance can put the deposit at risk
• Property-secured funding needs no valuation
• Approval within the hour is common
• Coordinate early with your conveyancer or solicitor

How we keep it fast

Think of it in four blocks of time. The first few minutes: your enquiry and the first call. The first hour: evidence in, assessment done, approval given, sometimes inside 15 minutes. The next few hours: loan documents issued and signed online by everyone who needs to sign. Then payment: funds released, with money landing within 24 hours of enquiring entirely possible. Each block runs faster when you have your documents, your guarantors and your phone close at hand.

Let’s get it moving

Put the details in once and let us do the chasing. No credit check to enquire, no spray-and-pray, and a real person on your file. Be as accurate as you can on the form, and we will be as fast as we can in return. Start your enquiry.