Struggling with loan purposes? Consider Resi Essentials for Cash Out and Business Purposes

23rd Aug, 2022 | Lender Updates, Branch News 25 August 2022

In this article:
Resi Essentials can consider loans for cash out and business purposes across all its products (Prime, Near Prime and Alt Doc).

Consider Resi for your cash-out needs, in their Essentials range, please see the following for more details.

Essentials cash out:

  • Can cash out on a security up to 80%
  • Any worthwhile purpose permitted
  • Description on how funds are to be used must be provided
  • Cash out for improvements to the security – ensure they are cosmetic only and will not affect the structural integrity of the main dwelling
  • They can cash out for construction, as long as the property being built, is not the one being held as securit

Resi can also consider providing funds for business Purposes.

Essentials Business Purposes:

  • Permitted under the Essentials range
  • Loan must be secured by acceptable residential property
  • Any business purpose (excluding working capital) considered
  • Use of funds must be disclosed, but no documentation is required unless requested by credit
  • Product criteria as follows;

To check the rate card, click here.

For more information, please see Resi’s website, alternatively please contact broker support or your BDM.