A caveat loan is a loan secured by a lender lodging a caveatable interest against the security property for the total amount of the loan. Caveat loans can be registered against a property with an existing mortgage or a completely unencumbered property, it makes no difference.
A caveat loan is a short-term funding option available particularly for urgent purposes where funds need to be raised within three days.
- No Credit Check
- No Valuation Report
- No Financials
This type of loan carries a greater risk for the lender as it is not secured by a registered mortgage over the property and therefore a higher rate of interest is charged compared to a standard loan.
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