- What is the minimum amount I can borrow?
A. Vision Scope will lend from a minimum of $10,000
- How short a term I can borrow for?
A. The Short Term Loan minimum term is 1 month
- How long a term can I borrow for?
A. The Short Term Loan maximum term is 6 months
- Can my interest and fees be included into my loan?
A. YES, your interest and fees are paid in advance of your Short Term loan for the first month
- What are the early repayment penalties?
A. There are NO early repayment penalties on your Short Term loan. Not only will you not be penalised for repaying your loan early, your outstanding prepaid interest will also be rebated to you
- What could delay the settlement of my loan?
A. Main causes of delay occur in the case of a second mortgage loan, wherein the primary mortgagee prolongs the agreement of providing Vision Scope with its second mortgage priority
- What security will I need?
A. Vision Scope's loans can be secured against property through registered or registrable mortgages. Acceptable security properties include; residential, commercial, retail, industrial and development sites
- How are interest payments calculated for my loan?
A. Interest payments are calculated in advance by calendar month
- Will my property need to be valued for application?
A. All properties put up for security will need to be valued by a licensed valuer
- Why are ‘Exit Strategies’ required?
A. Exit strategies are put in place to ensure your ability to repay your Short Term Loan
- How long does approval generally take?
A. Indicative approval can be made over the phone in a few minutes of completing application, and written indicative approval is provided within three hours
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