Harmoney

[Aaron]

Has anyone used Southern Cross Loans & Investments?

6.25%-8% Short Term Property lending with first mortgage over the property. Sounds good but there must be a catch. I assume it is the ability of the borrowers to repay but how could that be a problem if you have a first mortgage?

Southern Cross take a 2.5% margin which equates to 8.75 to 10% for the borrowers.


This may have been discussed earlier in the thread but it is a long thread.

[beacon]

Has anyone used Southern Cross Loans & Investments?

6.25%-8% Short Term Property lending with first mortgage over the property. Sounds good but there must be a catch. I assume it is the ability of the borrowers to repay but how could that be a problem if you have a first mortgage?

Southern Cross take a 2.5% margin which equates to 8.75 to 10% for the borrowers.


This may have been discussed earlier in the thread but it is a long thread.

Checked a few times. Never saw a loan over 7.2% pa. Website had no place to place orders. Messages left on phone number were rarely returned. So, looked no further...

[Aaron]

Checked a few times. Never saw a loan over 7.2% pa. Website had no place to place orders. Messages left on phone number were rarely returned. So, looked no further...

Thanks for that 7.2% with a first mortgage as security doesn't sound too bad.
And thanks Myles, still looking like a good option, I may look a bit closer.

[myles]

Has anyone used Southern Cross Loans & Investments?

My memory is a bit vague on this, but I thought they originally had something like a $100,000 buy in? I could be wrong on that.

Now listing a minimum $10,000 investment - so that may still be an issue for some.