How it works
The Southland Stokers work by lending money to borrowers for their business or investment purposes.
Our loan advance process
Borrower makes loan application — direct or via broker.
Initial due diligence done by Business Development Exec — loan purpose, security quality, serviceability and exit plan.
Preliminary disccussion of loan — credit assessment, suitability for fund, indicative pricing and terms.
Indivative loan offer prepared by Credit Manger and signed by Director/Credit Manager — pricing, standard terms and conditions and further requirements.
Indicative loan offer accepted by Borrower.
Full application & supporting docs reviewed for final credit approval using guidelines of Lending and Valuation Policy. Approval subject to valuation.
Valuation instrructed and received. If approved, solicitors instructed to prepare legal/mortgage agreements.
Mortgage Investment opportunity made available to investors.
Solicitors certify all mortage docs properly executed, incl. evidence of Borrower obtaining legal advice.
Mandated Directors provide final sign off on application and check all conditions have been complied with.
Investment applications received, investors allocated to loan, funds received.
Loan settlement occurs.