Millbrook caters for businesses in need of mortgage finance and investors looking to make their dreams a reality.
First mortgage loans
If you are having difficulty with your lender, we may be able to help. Millbrook is a specialist non-bank lender with a more realistic approach than other mainstream financiers. We will take the time to understand your requirements and tailor a loan to suit you — whether for the acquisition of property or refinance. We specialise in the refinance of stock left over after a development has been completed, bridging loans where you need funds for a new purchase, and equity release against equity in your property.
Loan amounts are usually in the range $250,000 to $2,000,000 (larger loan amount will be considered where settlement is not urgent) for a term of 12 months (terms of 6 months to 3 years are considered).
Note: We do not provide finance for property development (i.e. secured by improvements under construction or development).
Loan offers to meet your needs
We understand you may have been delayed by your existing lender, and your patience dwindling. Contact us to discuss your individual situation and we will give you a quick answer on whether we can assist. If so, we will arrange a valuation and forward you an Application Form.
Millbrook Mortgage Fund is a managed investment scheme, regulated by ASIC (Australian Financial Services Licence and Australian Credit Licence 335001).
Millbrook offers first mortgage loans secured by most types of readily realisable residential, commercial or industrial property. Our preference is for properties located in Victoria but other areas can be considered and you should contact our office to discuss your requirement.
Note: Millbrook do not lend for, or directly invest in, commercial property development (i.e. secured by improvements under construction or development).
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Small investments with monthly returns
Millbrook provides investors with a regular income flow and a competitive rate of fixed interest backed by security that sits comfortably within their risk profile. A contributory mortgage fund like Millbrook’s offers investors the comfort of choosing which specific property backs their first mortgage investment, rather than having an interest in all mortgages held by the Fund. Based on current interest rates, investors can expect returns of 7.00% to 7.75% (depending on the mortgage they invested in) with interest paid monthly — commencing the day their funds are received. Investor monies held by the Fund pending a mortgage settlement are deposited with an Australian Trading Bank.
Loans do not normally exceed 65% of the mortgaged property's market value and Millbrook does not lend against specialised securities or the future value of improvements under construction. Early redemption of investments is available where Millbrook is able to identify a replacement investor.
We specialise in loans between 6–24 months, with interest only repayments. Fixed interest rates from 7.99% pa.
Loan amounts considered are $50,000 to $2,000,000 (however, higher amounts will be considered if funds permit). Maximum loan to value ratios (LVR’s) we consider at present are 70% for metropolitan residential property, 65% for commercial and non-metropolitan residential, and 60% for industrial.
Millbrook Mortgage Fund offers investors access to first mortgage investments secured against non-specialised properties. Based on current interest rates, investors could expect returns of 6.5%–7.5%, depending on the mortgage they invested in.