Strata improvement loans

Enhance and protect the value of your clients’ property

Sometimes, repairs and maintenance of your clients’ strata property just can’t wait. Macquarie Relationship Banking provides finance to fund mechanical, aesthetic, and structural improvements to clients’ strata property* - which means they don’t need to solely rely on raising special levies upfront or accumulating additional monies in the sinking fund.

Benefits for strata managers

  • provides alternative to raising special levies upfront
  • enhanced relationship with your clients by offering a manageable, alternative funding solution
  • Macquarie Relationship Banking provides the funding, not a third party, so the process is smoother and simple
  • deal with specialists in the strata industry
  • experience great service from Macquarie Relationship Banking

Benefits for owners corporations

  • reduced financial dependence upon existing lot owners to fund upfront large-scale capital works
  • payment solutions to suit most financial situations and rate cycles
  • funds are available quickly and works are not delayed while funds are collected*
  • no security taken over lot owners personal assets
  • lump sum contributions throughout the loan term attract no penalty fees
  • potential savings for Owners Corporations by allowing works to be carried out completely with funding (rather than stretched out over a period of time)

Strata Improvement Loan specifications

Minimum loan amount $50,000
Maximum loan amount $2,500,000 (maximum lending limits per lot owner apply depending on the size of your scheme)
Minimum lot size 8 lots per scheme
Loan terms Maximum 5 years
Security Unsecured
Interest types Variable and fixed rates (1, 2, 3, 4, and 5 years)

What is the process for applying?

To assist us in completing the loan application we will require some paperwork, which includes:

  • a copy of the Owners Corporation minutes, passing a resolution to carry out the works and to borrow from Macquarie Bank
  • the Owners Corporation financial statements and an aged levy debtors list
  • a proposed budget incorporating the loan repayments
  • a copy of the registered strata plan and by-laws
  • a copy of the strata roll
  • a copy of the works quotation from the contractor.

 

View Strata improvement loan brochure

View Lot owners brochure

For more information

Contact your Macquarie Relationship Manager or phone 1800 442 370 to speak with a strata industry specialist in your region.