Chattel Mortgage
Chattel Mortgage Finance Packages
Chattel Mortgages
A very flexible Loan solution the Chattel mortgages, known as ‘goods mortgages’, are usually reserved for the purchase of motor vehicles, equipment, machinery for business use only.
Overall, chattel mortgages can be significantly cheaper than any other loan type (depending on your situation). This makes it well suited to a range of customers, whether you are a sole trader, company, trust, partnership or anyone who holds an ABN (Australian Business Number).
Here’s a quick clear overview of how this type of loan works and why it may be worth considering today’
Companies, partnerships and sole traders can benefit when purchasing with this type of money loan. As described, Chattel Mortgage has two parts to the name. Chattel is the product / or Item the loan is financing Mortgage is the Loan you have to pay back.
Under a Chattel Mortgage the finance lender advance funds to you to make the purchase for the goods required, after which you become the legal owner right away (chattel) at the time of purchase.
Then the lenders take out a “mortgage” using the goods as security for the loan. The security helps reduce the over all risk of the lend an therefore your intrest rate will be lower compared with an unsecured loan.
Some of the advantages of using a Chattel Mortgage is Fixed monthly payments, lower interest, availably of a residual and a 1 to 5-year term depending on your requirements. Many businesses use the maximum residual possible as it reduces their payments significantly and allows for better cash flow. Since the asset belongs to your business from day one the entire amount of GST is deductable. This together with the lower repayments improves your cash flow and profitability. We find that most of our customers prefer this type of loan due to the tax benefit it offers.
The kind words our customers share.
Channy Winship2024-04-12Dave is always a pleasure to deal with, helpful, prompt, nothing is ever a problem and always come through with the finance! Myself and my whole family are repeat customers with londy loans and no longer go anywhere else since we met Dave! Being an old car enthusiast getting tricky loans to add to my collection has never been a problem!! The recent purchase with Dave’s help
Renee Bailey2024-04-12It was an absolute pleasure to work with David London and Londy Loans to secure finance for a very importance piece of medical equipment for my practice. Right from the beginning, he was highly professional and genuine. David operated with efficiency, maintaining constant communication and readily answered all my questions. I wholeheartedly recommend David and Londy Loans to anyone seeking a trustworthy finance broker, his expertise and sincere dedication to client satisfaction truly sets him apart in the industry.
Nathan Di Carlo2024-04-03Excellent service, very helpful and quick to respond. Had a slight hiccup on my end and within hours it was sorted and deal went through very smooth. High recommend.
Aaron Roberts2024-03-26David and the Team were amazing to help finance our new BMW car… he made the whole process so easy… highly recommend Londy Loans
KMD Admin2024-02-02Excellent service and easy through the process. I would highly recommend Londy Loans (David) and have no hesitation in using them again.
Brayden Dixon2024-01-24Working back and forth with David over the week to secure my loan, Hands down such a genuine person. David is professional, He has connections in all sorts of places and Always prompt to update you with what's happening, Thinking 2 steps ahead at all times. Been an absolute pleasure working with you Dave and looking forward to the years to come of business, Will be coming back to secure that house loan in the near future. HIGHLY Recommended if you want to be looked after and know your in good hands. Thanks again Dave!
L F2024-01-19Had a great experience with Londy Loans. Highly professional and friendly from the start. The team, especially my broker, really knew their stuff - understood my financial goals, gave me tailored advice that was easy to understand. Very Impressed by their dedication to finding the best deals, not just the easy ones. They were efficient, kept me in the loop constantly, and always there to answer questions. Highly recommend Londy Loans for anyone needing a reliable finance broker. They stand out in the industry for their expertise and genuine client care.
Sam Trimble2024-01-10Dave was awesome to work with he went well out of his way to find the best possible lending for us. Cannot recommend him enough
jayme cannon2023-10-25Impeccable service from the team at Londyloans! Always followed up on calls and kept me in the loop all the way up to settlement. Glad I made the right choice to ring David.
Kate Clarke2023-10-10David communicated with me so well throughout the process to keep my updated and find the best option for me. Overall, a great experience!