Equity Release Facility
Get up to $150,000 by releasing untapped equity in your existing properties, or fund up to 72% of a new purchase.
No income statements required
Keep your existing mortgage with the bank
Fund up to 72% of your next purchase or finance renovations
How an Equity Release Facility can help you:
Leverage equity in a rental to fund your next deal
Ideal for investors seeking to fund the deposit on their next rental property, or for traders looking to access cash deposits for their next trade.
BRRR: Buy, Renovate, Refinance
Purchased a property below value and need cash to renovate? Use your new purchase or an existing property to finance renovations, then refinance back to the bank.
Need cash to renovate and sell?
If your bank won’t increase your mortgage for renovations, keep your current low rate mortgage with them and Flexy can give you the cash you need.
Fund GST shortfalls on contemporaneous sales
Are you trading property contemporaneously? Use untapped equity in your existing property to finance any GST shortfall when selling zero rated.
Unlock equity in an existing property to purchase or renovate
Example:
Use up to 72% LVR in an existing property
You own an $800,000 rental property. Below is a loan structure using the Flexy Equity Release Facility and keeping the first mortgage lender. Flexy advanced $100,000 ( 12.5% of the property value) which can be used as cash towards another purchase, or to renovate property.
Current Value
$800,000
Bank Mortgage
$480k
60%
Flexy
100k
12.5%
Your Equity
$220k
27.5%
Pricing and terms available on application.
How much equity do I have?
How Flexy Works
Get started
- Send details of your property with an LVR less than 72%.
01
Quick response
- Flexy will review, and if approved, respond swiftly with a Loan Offer.
-
We can usually fund loans within two business days.
02
Funds advanced
-
If purchasing another property, Flexy provides funds to your solicitor for a deposit top-up, or directly to your bank account for renovations.
03
Refinance, or sell to repay
- Complete your renovation and refinance, or sell the property.
- Use the proceeds to repay the Flexy loan, completing the process seamlessly.
04
Eligibility criteria
If you are GST registered for your purchase, please use the GST Facility here.
Have questions or want to get started?
- Funds must be borrowed for investment-related purposes only.
- Borrowers can not be a GST registered entity.
- Security over the project, or suitable property required.
- Borrowers must demonstrate an acceptable exit strategy to repay the loan.
- Borrowers must not have any overdue IRD accounts.
- The borrower must ensure the refinance or resale cover the Flexy loan repayment on the due date.
- Full terms and conditions are provided with the loan offer.
Frequently asked questions
What fees are associated with Flexy loans?
There is an establishment fee, legal costs for security registration and AML which are all capitalised into the loan, including the first month’s interest payment. Full costs will be provided on application.
What is the interest rate for Flexy loans?
The current interest rate starts at 1.95% of the outstanding loan balance per month.
How long do borrowers typically have to repay a Flexy loan?
The loan term is 3 months. The minimum loan term is one month.
Can loan terms be extended beyond three months?
While the maximum loan term is three months, Flexy considers individual circumstances and may work with borrowers to renew the loan.
What type of security is required for Flexy loans?
Security is in the form of a mortgage, no greater than second ranking.
Can Flexy loans be used for commercial or only residential properties?
The Equity Release Facility is for residential property only.
What documentation is required for the loan application process?
We need the sale and purchase agreement if using a new purchase, or an address of your existing property. We’ll also need to know how you plan to use the funds.