Non
Bank loans
In nearly all cases we need to utilise the services of a non bank lender in a mortgagee sale to refinance the bank from selling your home at mortgagee sale.
Why
won't another bank refinance?
When you're
in arrears with your mortgage and facing a mortgage sale you do not fit the lending
criteria of other
banks. Because of this we recommend that you do not approach other banks - we
may need their services later on down the track.
What
are non bank lenders?
Non bank
lenders are mainly property lenders, for example finance companies, private
lenders, specialist lenders or nominee companies. Their lending criteria
is more flexible than the banks and are willing to consider clients who's
mortgages are in arrears - subject to their conditions of course. They do
charge higher rates than the banks and the loan is subject to application
fees and legal fees. We only use lenders who are registered with the Financial
Service Providers Register. (FSPR)
So how
can we help?
We can help
at each stage of the mortgage arrears process even if the PLA has expired.
We will need to assess your financial position and advise you on your
options. We understand the stress and anguish that you must be going
through and will do our utmost to assist if we can.
With our 'Mortgagor Rescue Package' maybe a second mortgage can be applied for to repay the arrears, may be a family member can help or guarantor. May be a full refinance is required to help you get back on your feet, then refinance back to 'bank rates' at a later date, or sell the property without the stigma of a mortgagee sale.
For many clients we have negotiated with the bank/lender to have expiry dates extended and liaised with the banks lawyers to find out other important information to help you. (We do charge an hourly rate for this service - if we negotiate on your behalf)
Over the years as a mortgage broker I have helped save 141 homes from mortgagee sale and saved owners millions of dollars in equity - I may be able to help you.
The above is for information purposes only and not to be taken as advice. For detailed advice on your situation -
Call us on 0800 ADVOCO (0800 238 626) or email us.
Some of the 141 homes
Steve has saved from the auctioneers hammer!
King George Avenue, Epsom.
Williamson Avenue, Grey Lynn.
Khyber Pass, Grafton.
Ivy Place, Birkdale.
Evandale Street, Glen Innes.
Whangaparaoa
Road, Whangaparaoa.
Layton Road, Manly.
Kenwick Place, Pakuranga.
Scenic Drive, Swanson.
Port Waikato Road, Tuakau.
Layton Road, Manly.
Eyre Street, Henderson.
Edinburgh Street, Pukekohe.
Ivon Road, East Tamaki.
Hillsborough Road, Mt Roskill.
Israel Avenue, Clover Park.
Dawson Road, East Tamaki.
Howell
Street, Mt Roskill.
Lake Road, Devonport.
Rangatira Road, Birkdale.
Levesque Street, Birkdale.
Alidade Place, Massey.
Otaua Road, Waiuku.
Ambler Avenue, Glen Eden.
Trojan Crescent, New Lynn.