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Hunter Business Finance

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Hunter Business Finance

Overview:

CHATTEL MORTGAGE - Where a mortgage is taken over the equipment (chattels) being purchased. Title (ownership) goes to the borrower at the time of purchase and the lender takes a mortgage over the equipment until the final payment is made.

COMMERCIAL HIRE PURCHASE - Where the lender has title (ownership) of the goods until the final repayment is made, then title passes to the borrower / hirer.

LEASE - A contract by which one party (lessor) gives to another (lessee) the use and possession of lands, buildings, property, equipment etc for a specified time and for fixed payments. When relating to equipment (cars, trucks, bulldozers etc) a residual is placed at the end of the term which is designed to reflect the value of the goods at the end of that period and should be in line with the ATO guidelines. Generally, the lender gives the lessee (the customer) the option to purchase the goods for that residual value at the end of the period.

NOVATED LEASE - When a motor vehicle (in most cases) is acquired by an employee of a company and the company pays the repayments for the employee out of their pre - tax salary as a "vehicle allowance". This can provide tax benefits for both the company and employee (sometimes referred to as "Salary Sacrifice".

RENTAL / OPERATING LEASE - is a flexible financing solution ideal for equipment which tends to depreciate quickly (including IT hardware, computers, office machinery, audio / visual equipment, telephone and security systems). You can update, upgrade or add on equipment to the rental agreement during the term of the loan. Rental payments are treated as a 100% tax deductible expense when the equipment is used for business purposes.

CONSUMER LOANS - is a convenient and flexible way for you to obtain finance for equipment (motor vehicle, boat etc) which is to be used predominantly for personal use. The equipment is used as security for the loan however you have ownership from the beginning of the contract. An encumbrance is listed on the equipment until you make the final payment at which time the encumbrance is removed and your get clear title. As a consumer loan is not business related, it is regulated under the terms of the Consumer Credit Code.

INSURANCE PREMIUM FUNDING - is a finance product whereby your insurance premium is financed over a 12 month period rather than making one lump sum payment to your insurance provider. This enables you to retain your working capital for other areas of your business and spread your insurance costs over equal monthly instalments. Payments are fully tax deductible and fixed for the term of the loan to protect you against interest rate fluctuations.

RESIDENTIAL MORTGAGE: This type of loan is your standard "mums and dads" mortgage over the family home, town house, unit, duplex or small acreage. These type of loans can be taken out up to 30 years.

RESIDENTIAL INVESTMENT MORTGAGE: This type of mortgage is taken out over a residential property, town house, unit, duplex or small acreage for the purpose of renting these properties to a third party. These type of loans can be taken out up to 30 years. The interest on these loans and costs associated with the maintenance is tax deductible.

COMMERCIAL MORTGAGE: These type of loans are taken out over commercial properties whether they be a factory, warehouse, shop front or commercial unit. These loans are generally limited to a term of 15 years but can extend beyond that with some lenders and under certain circumstances. The interest on these loans and costs associated with the maintenance is tax deductible.

"LOW DOC" FINANCE - This type of finance refers to applications that don't require complete up to date financials for business customers. Most finance products listed above can be applied for under "Low Doc" however a loading is added to the interest rate and the amount financed is capped at a certain limit depending on what equipment / property is being financed.

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