New Commercial Lending Option - High LVR High Volume

Key Features:

Self Certification of Income
No Mortgage Insurance
Up to 80% LVR
Loan up to $6M
Interest Only

Loan Purpose:

Investment & Business Purposes Only / Unregulated – a declaration will be required to this effect
Property Purchase
Debt Consolidation

Maximum Loan Amount:

$6 Million in any one transaction

Minimum Loan Amount:


Interest Rate:


Serviceability Evidence:

< $2M total Self certification certificate – signed by the applicants

> $2M demonstrated as detailed below
INCOME EVIDENCE - serviceability should be demonstrated and evidenced by providing two of the following for each borrowing entity-
(a)Last 2 years tax returns for each applicant including director/s and shareholder/s of company applicants and last 2 years financial statements
(b) PAYG Statements
(c) Financial Statements
(d) Cash Flow Projections
(e) External Accountant’s assessment of Applicant’s debt servicing capacity. This should include projected net income
(f) Copies of lease agreements to 3rd parties (determined to be at an arms-length) that must (i) be for a period longer than the requested loan period (i.e. 1 year loan = 3 year lease) and (ii) demonstrate that the lease payments by 3rd parties on the security property/s can service the new requested debt at a ratio of 1.2:1
(g) Failing to be able to provide two of the above, we can make the loan service for a 12 month period on the following basis:-
As the repayments are to come from sale of the property, and other identified and acceptable sources, where regular cash flow will not support borrowings, interest retention for the term of the loan will be considered. This amount will be deducted from the amount determined by the maximum loan amount (i.e. 70% LVR minus interest retention) will be available to the applicant upon draw-down of the facility.

Acceptable Security:

Commercial on the Eastern Seaboard for 1st party mortgage’s / borrowers. Company Applicants are also acceptable


One (1) year (rollover)


Rate for Risk


Interest Only monthly in arrears

Loan Ratios:

Depending on case by case scenario


Sydney, Brisbane, Melbourne, Gold Coast, Wollongong- Regional Areas are subject to individual application


Will be required on all loans, as instructed by Chocolate Money – no re-assignments accepted. Valuation Fees will be payable by the borrower upon acceptance of the Prospective Approval Indication.


Each property must be insured for an adequate amount against damage or loss on
a replacement basis by an acceptable insurer.

Unacceptable Securities

Flood Prone Zoning's or Future Infrastructure Lodgings
Native Title or Poor Salability
Company Title or Crown Lease (except in ACT)
Timeshare or Serviced Apartments
More than 100 acres – however may be able to be consider under Chocolate Home Loan’s Rural Lending department
Multiple Dwellings on One title of semi-constructed buildings- however there are other products that may suit

Deferred Establishment Fee:

Nil - early repayment usually incurs One (1) months penalty interest - however this is assessed on a case - by -case basis


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