Funding Process
As Australia’s leading strata lender, we have streamlined our straightforward funding process to provide the most efficient experience possible. The credit assessment is conducted on the Strata Corporation, not on individual owners, so no personal financial information is required. Experience the Lannock difference. Speak with your local Lannock expert about how we can tailor flexible funding to suit your specific needs and support you through the funding process.
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STEP ONE
Request a Loan Proposal
Click 'Get Started' at the top of the page to request a Funding Proposal. You'll need your Strata Corporation details, the requested facility amount and the loan purpose. Our expert team will then contact you to discuss your project and funding requirements. Multiple projects can be bundled into a single facility.
STEP TWO
Approve a Facility Agreement
Once we tailor a Funding Proposal to your needs, we will provide a Facility Agreement and motions for your next general meeting. Approve the resolution to implement the facility. We can attend the general meeting or owners' information session to support your Strata Corporation with detailed information and answer any questions.
STEP THREE
Credit Assessment
Our credit assessment process is the fastest in strata lending, usually taking 1-2 days once we have all the required documents. It requires basic information about the Strata Corporation. Pre-approval can be arranged before the General Meeting. The assessment is done on the Strata Corporation, not individuals, so no personal financial information is needed. The borrowing limit is based on the total market value of lots in your Strata Corporation.
STEP FOUR
Execute the Facility Documents
Once you have passed the resolution at a general meeting and approved the proposed funding facility in accordance with all applicable rules and regulations, you are required to execute the Facility Agreement. Please follow the document execution process you can find in the resource section.
STEP FIVE
Draw down funds as needed
Draw down funds as required each Thursday, with instructions and documentation required the Thursday prior. The 12-month availability period can be extended if needed – just speak with your dedicated point of contact.
STEP SIX
Repayments
Simply include repayments in the standard levy cycle like any other contract. There is no fee for early repayment. When a lot is sold or changes hands, repayment responsibility stays with the lot, not the owner – it does not follow the owner to their next investment.
Get Started Today!
Straightforward and flexible funding for strata communities
Select your funding requirements below for a snapshot of our strata finance solutions. Our expert team is ready to help tailor a solution that best meets the unique needs of your Strata Corporation.