CKM (Mortgages) Limited offers loans for business or investment purposes, based on first mortgages securities. The company has been active in mortgage lending since 1985.

We hold an Australian Financial Services Licence under the Corporation Act 2001, and the Trust is a registered managed investment scheme.

Loans

First mortgage loans are secured on property to a maximum of 66.67% of proper valuation.  

Loans will be made secured on various types of property, including residential, commercial, industrial, development sites and vacant land. The loan valuation ratio (LVR) percentage is a matter of judgement, and will often be less than 66.67% depending upon the type of security.

Progress payments will not be made in respect of development loans, and such loans will be limited to an LVR based upon the land value of the development site.

Advances will not be made where loans fall within the provisions of the National Consumer Credit Code. Loans will predominantly be made in respect of securities in New South Wales, but will be considered in Victoria. Where there is any doubt concerning the provisions of the National Consumer Credit Code, solicitors acting for the manager will be required to obtain declarations stating that private purposes for the loan are less than 50% of the amount advanced.

See our lending guidelines or download our loan application form below

Valuation

CKM (Mortgages) Limited has established a panel of approved valuers. Each valuer is properly qualified, licensed and has at least five years experience in valuing properties for mortgage purposes.

Valuations are required in all cases, except in terms of the constitution and the current PDS where the LVR is less than 40% for residential properties,as evidenced by a concurrent purchase of property by parties at arm’s length, or by two independent appraisals by real estate agents carrying on business in the locality of the security.

All valuations from panel valuers must be under instructions from CKM (Mortgages) Limited. Instructions in writing may be made by CKM (Mortgages) Limited, or by a solicitor or an agent acting on its behalf.  Valuations must specify that they are for mortgage purposes; set out the methodology used; be on an “as is” basis, and not valued on the basis of projected realisation; and must refer to a recommendation of the security as suitable security for mortgage purposes.

The product disclosure statement of the Trust provides that advances are made only on first mortgage security to no more than 66.67% of approved valuation. The company does not make advances in respect of progress payments for construction. Loans may be made on residential, commercial, and industrial land, and loans will be made on vacant land including land value of development sites. With a development site, no further advances will be contemplated until lock-up stage.

ASIC requires that we appoint a panel of valuers and all valuations must be under instructions given by CKM (Mortgages) Limited or by solicitors acting on behalf of the company. The company does not accept valuations instructed from borrowers.  ASIC requires that valuers, where possible, are registered under a State or Territory valuer registration scheme and include a statement in their valuation report on whether the valuation complies with all relevant industry standards and codes.  We also require the valuer to have at least five years' experience in mortgage valuations, and hold appropriate professional indemnity insurance.

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What documentation is required?

Send a brief explanation of the loan required, complete the loan application form, complete the AML Identification form, and (if over $500k) complete an Asset & Liabilities statement.

Lending guidelines.pdf Application Form - up to 66.67%

AML Identification Form - Companies AML Identification Form - Individuals AML Identification Form -Partnerships AML Identification Form - Trusts