Lannock Strata Loans
Lannock Strata Loans
The fresh approach to funding for your body corporate or owners corporation
A Lannock Strata Loan is an unsecured loan to the body corporate to fund strata improvement projects like renovations, defects, green projects and repairs. Lannock will also fund strata insurance, professional services and litigation.
Owners enjoy the lifestyle benefits and investment returns of completing the project sooner. And because you aren’t waiting around for a sinking fund to accumulate, you can pay today’s costs and avoid the problem getting worse.
Strata borrowing may be particularly beneficial for investors – please refer to your tax adviser
No initial outlay
An easy multi-drawdown facility
Choose your loan term for each advance
How a Lannock Strata Loan works
Contact Lannock for a Loan Proposal to fund your strata improvement project. Discuss this with the owners.
Ready to proceed? Lannock will provide a Loan Contract to be tabled and approved at a General Meeting.
As works are completed, the body corporate draws down funds from Lannock to pay contractors.
You can draw as many advances as required, up to the value of the Loan Contract. You only pay for what you use, when you use it.
Lannock will consider variations to this standard criterion in special cases such as where the building is being redeveloped or where additional value is being created.
Contractor’s invoices need to be provided in support of each Advance. Lannock will remit the funds directly into the body corporate’s account to enable a contractor to be paid, or re-imbursement for a payment already made.
You have the flexibility with each Advance to specify:
• Term of Advance (1 to 10 years)
• Variable or Fixed Rate (1 or 2 years)
• Interest Only Period (up to 2 years)
Why choose Lannock?
We are the leading strata finance specialist in Australia, helping owners protect and improve their properties with efficient finance.
Most flexible strata loans available. No job is too big or too small. No minimum loan amount.
Simple and fast process. Contact us today for a Loan Proposal so you can get started quickly.
Specialist and dedicated team ready to help owners and strata managers around Australia.
We lend for a wide range of projects such as renovations, defects, green projects and repairs. Lannock will also fund strata insurance, professional services and litigation.
Latest Industry Insights
With the new NSW Strata Laws now in effect, we clarify how the new legislation impacts the funding of Capital Works and the options available to owners.
In light of the changes to NSW strata legislation coming into effect today, some insights to share touching on the opportunities and options our funding can offer.
Lannock Strata Finance is a specialist strata financing company, established in 2004 by Paul Morton, CEO. When you finance your strata project with Lannock, you are dealing with the industry experts. We finance capital works for bodies corporate and owners corporations around Australia including repairs, renovations, professional services, litigation and re-development.
- “What was really great was being able to get a new retaining wall built within a few weeks of deciding to do it. You can’t put a price on that kind of peace of mind.” Graham Pooley, Treasurer, Owners Corporation, Bellevue Hill NSW.
- “Lannock’s service has allowed us to maintain our iconic piece of Melbourne.” Graham Wilson, Chair, Owners Corporation, “The George”, St Kilda VIC.
- “We would never have been able to achieve such a positive result for the owners without the support of Lannock.” Noel McDermott – Chair, Body Corporate, “Grand Reef”, Dee Why NSW
- “Borrowing should always be an option considered by strata owners as part of the funding mix.” Rob Beck – General Manager, Owners Corporations Victoria Inc (OCV).