Term Loan

We offer residential, rural or commercial property loans or you may transfer an existing loan.

Property is likely to be the largest purchase you make.  Midlands Mortgage Trust offers interest only Term Loans at competitive rates with flexible terms and repayments based on a schedule to suit your needs.

We can also consider principal and interest loans, and reverse equity loans in certain circumstances (subject to stringent disclosure requirements).

Talk to us today to discuss your requirements.

The Fund is managed by Funds Managers Central Limited, Hastings, which is licensed under the Financial Market Conduct Act 2013 as a manager of registered schemes.

Interest Only Loans

Interest only loans enable you to make repayments that cover the interest based on a repayment cycle of your choice.  If you are entitled to tax deductions on your interest payments, the entire installment can be deducted as there is no part of the payment that is reducing the principal amount of the loan.

Competitive Interest Rates

We offer floating interest rates; these rates are subject to our assessment of market forces and can fluctuate regularly.

Flexible Terms

Most loans considered by Midlands Mortgage Trust have terms ranging from 1 – 3 years. Terms may be varied to suit your requirements.

Transferring a Loan

We are happy to transfer a mortgage from one property to another, providing the new property can support the level of debt and you can continue to meet the Fund’s servicing requirements.  The Fund is not legally obligated to allow you to transfer your mortgage but all reasonable requests will be considered.

Term Loan FAQs

Who can apply?

Anyone wanting money for residential, rural or commercial property where security is provided on a first mortgage over that property.

How much can I borrow?

This is based on individual circumstances, however you can generally borrow an amount sufficient for the interest to be between 20% and 30% of your income.  A valuation of your property will be required to determine the limit to which a loan can be granted.

Lending guidelines limit borrowing amounts against property values, as follows:

  • Owner occupied home loans 75%
  • Farms 60% (except for dairy farms at 66.67%)
  • Commercial property 66.7%
  • Bare land and approved leasehold securities 50%

What monthly repayments do I have to make?

Your monthly repayments are based on the terms of your loan.

View all Term Loan FAQ's