Frequently asked questions
Below are some of the common questions our team members are asked by our clients. We hope you find them useful, and if you have a question that is not answered here, please contact us at 03 9645 0473.
First home
Knowing what your property is worth is sometimes hard and when purchasing a property you may like to get an idea of sales history for the area.
Cube will provide you with a free property report that gives you information on the property in question including estimated price guide, recent sales in the area and local facilities. When you approach your sale or purchase you will have greater confidence in your decision and the next steps towards a successful transaction.
Gathering documentation to help prepare your application can seem daunting. Our team will guide you and your clients meet typical bank identification requirements (i.e. the 100 point checks). The simplest documentation for most of our clients to provide is their current drivers licence and valid passport. In addition, we may request copies of your Medicare card, birth certificate or marriage certificate. We can also support you with any further information on certification requirements and contacts for Justices of the Peace or authorised witnesses, if you require them.
When applying for a loan, showing a lender how you will cover repayments are the most important documents you can provide. Proving your income and the associated requirements change depending on whether you are an employee (also known as a PAYG applicant) or self employed. To lighten the load, the team at Cube, with permission, will contact your accountant to get all relevant information. In doing so we work with them to maximise any possible taxation or other benefits for your situation, giving you security that your lending will be working for you over the long term.
As an individual, self-employed business owner or larger developer, you will be asked for a range of financial documents regarding your income, expenses, assets and liabilities.
Our team can walk you through everything that is needed to help your application succeed. Furthermore, should you be in need of a new accountant, we have a network of reliable professionals and reputable firms we can refer you. We receive no financial incentives to refer to our professional contacts.
Investor
How much you can borrow depends on a range of factors such as the lender you choose, the product you need and your overall financial standing. Cube can help you determine your borrowing capacity while also developing an application that is highly likely to succeed.
This all depends on the lender, its policies and the application submitted. Let us work with you to provide the most suitable product for your needs.
Not all business/equipment loans require collateral, security or deposits, however secured loans may be of benefit with lowered interest rates. Depending on the purpose of your loan, your borrowing capacity and the lender, Cube can assist with a loan structure that matches your current financial circumstances.
This entirely depends on the needs of your business and your growth plans. Some lenders will allow you to repay early while others may charge a fee. Just because you can doesn’t mean you should. Speak to one of our experts to find out how your business loan can be maximised to your tax strategy.
Yes. Refinancing residential and commercial loans can be great ways to reduce payables and consolidate your business debts. It is important to note that refinancing is subjective and needs to be taken into consideration with your personal financial objectives and needs of your business. Speak to our team to assess if this is the right move for you.
Absolutely. Second-hand equipment can be financed, along with low doc options. Typically, the age of the equipment and the lender also will play their part in helping you secure financing. Cube can assist in analysing if this is the right step for your business.
With so many options available, the Australian lending market can be confusing. Cube's extensive network of lenders and advisors places us in the best position to negotiate deals and structures that work to your advantage. Specialising in complex lending solutions we can get the best deal for today, secure for tomorrow.
Universally, the better your credit score, the more options you will have to lend. With that in mind, Cube has guided several clients to complex investment loans and escape stagnancy within their business with solutions unavailable through typical retail lenders. Speak with a team member to discuss options that suit your unique circumstances.
Self Managed Super Funds
Yes, an SMSF can borrow to purchase an investment property through what is known as a Limited Recourse Borrowing Arrangement (LRBA). Given that SMSF is a highly regulated environment with strict regulations, Cube will always recommend that you seek advice from a team of professionals, with your best interests at heart.
Investing in property through an SMSF can provide tax benefits, including the ability to claim deductions for interest payments, property expenses, and depreciation. It can also provide a long-term investment opportunity, as property values tend to appreciate over time.
As always, your personal circumstances should always be considered before investing.
An SMSF can invest in residential or commercial property, as well as vacant land for development purposes. It is important that Trustees are aware of the restrictions on investing in property owned by related parties or used for personal purposes.
Our team of experts can help answer any questions you may have pertaining to your fund and its assets.
The amount a SMSF can borrow to invest in property depends on several factors, including the value of the property, the amount of the deposit, and the financial position of the SMSF.
To get an accurate understanding of your borrowing capacity, book a no-obligation chat with our team.
Investing in property through an SMSF may involve some risks, including fluctuations in property values, potential damage or loss of the property, and changes in government regulations.
It is always important to conduct thorough research and seek professional advice before making any investment decisions.