Frequently Asked Questions

Body Corporate Finance is a loan provided to the Body Corporate of a unit titled building.

Bodies Corporate often require funding for urgent or large projects that are beyond the immediate financial resources of owners.

Commonly funded projects include:

• Weathertightness remediation and façade repairs
• Seismic strengthening and structural works
• Lift upgrades, roofing, plumbing, and electrical
• Green initiatives (solar, EV chargers)
• Fire safety and compliance works
• Insurance premiums, legal or professional fees
• General maintenance and refurbishments.

Body Corporate Finance provides immediate access to funds, enabling urgent works to start without delay. It also spreads repayment over the loan term, reducing the financial burden on owners and minimising the risk of financial hardship, forced sales, or project delays caused by owners unable to pay lump sums. 

No. Unit owners do not have to provide mortgages over the individual units. The loan is secured by levies.

The loan is secured by the levies relating to the loan. 

No. The Body Corporate borrows is the borrower. Individual owners are not required to submit personal loan applications, undergo credit checks, or provide security over their individual units.

Loans are available from $500,000 - $50,000,000.

Yes, like any lending product such as your mortgage there are fees, which include an Application Fee and an Establishment Fee. All fees are outlined in our Funding Proposal.

We offer loan terms from 1 year to 10 years.

The Body Corporate, as a legal entity, is the borrower and responsible for repaying the loan. Individual owners contribute towards the loan payments through levies.

The Body Corporate needs to provide recent financial statements, insurance certificates, details of the project and costings, a copy of the contract.

If a Section 74 is not in place then a special resolution (typically 75% approval) is sufficient. Unanimous consent is not usually required, making finance easier to arrange compared to raising funds individually.

Yes, we offer interest-only repayment periods during the construction phase to reduce cashflow pressure on owners. 

Principal and interest repayments typically commence once the project is complete.

The Body Corporate includes loan repayments within its standard levy structure. Owners are billed at regular intervals (e.g., quarterly), and the Body Corporate uses these funds to meet its loan obligations.

The Body Corporate remains responsible for meeting loan repayments regardless of individual defaults. The Body Corporate can recover unpaid levies from owners through legal means under the Unit Tiles Act if necessary, but the lender’s recourse is to the Body Corporate as a whole.

Once the minimum period of 12 months is complete, a Body Corporate can repay some or all of its loan at any time without penalty.

Yes. We can refinance and/or restructure an existing Body Corporate loan to extend the term, reduce interest rates or to increase the loan for additional works. 

Once the required documentation is provided a Funding Proposal can be issued within 24 hours.  If the Body Corporate seeks to proceed, formal approval can be obtained in 10-15 working days.  Settlement and funding usually follow shortly after a documentation process, meaning projects can start promptly.