Lannock partners with Moelis

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apartment building

You may have seen in the news recently that Lannock has partnered with international funding group Moelis.  Moelis’ Australian arm has committed tens of millions of dollars to fund strata loans through Lannock – something we are incredibly excited about! This exclusive partnership with Moelis adds impetus to our commitment to fund 100% of the strata sector’s requirements for defect and cladding remediation work. What’s better than being backed by one global giant?  Being backed by two:  Credit Suisse and Moelis. We … Read More

NSW Government begins the process

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It is great to see Kevin Anderson MP and the NSW Government leading from the front to remove high-risk cladding from our buildings. Not only will #ProjectRemediate save people money but save people’s lives. About Project Remediate Source: https://www.nsw.gov.au/customer-service/projects-and-initiatives/project-remediate#what-is-project-remediate  Project Remediate is a three-year program to help remove combustible cladding on an estimated 225 buildings known to the Cladding Taskforce. Latest update The NSW government has: confirmed it will pay for the interest on 10-year loans on behalf of apartment owners to fund and fast-track the … Read More

Taking advantage of the NSW Cladding Removal Plan

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We welcome the $139 million commitment from the NSW government in the State Budget to support the removal of high-risk combustible cladding in residential apartment buildings in NSW. Minister for Better Regulation and Innovation, Kevin Anderson, said the Government will establish Project Remediate, a three-year program to help remove combustible cladding on hundreds of the most at-risk buildings. The centrepiece of Project Remediate is a commitment to pay the interest on amounts borrowed by Owners Corporations, fast-tracking the removal of unsafe … Read More

Pronto offers fast answers to lost levies question

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As seen on FlatChat. By Jimmy T Strata schemes facing a temporary financial crisis due to the coronavirus – or just anxious to get on with delayed projects – can now get an instant answer on whether or not they’d qualify for a strata loan, and for how much. Thanks to a new product called Pronto, schemes seeking instant finances to cover defaulted levies, unexpected imposts on their budgets or delayed maintenance and repairs can learn within minutes what their options … Read More

Funding for Strata Insurance Premiums

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We have designed a simple insurance premium funding product to assist an owners corporation/strata corporation/body corporate/strata company or community association pay their annual insurance premium in times of financial hardship. Easy monthly instalments Pay for annual insurance in 12 monthly instalments* that suit your cashflow Fixed interest rate Know what your monthly repayments are over the course of the 12-month term* Release cash flow Free up your cash flow and reduce the burden on the administration fund tied up in insurance … Read More

Understanding your sinking fund

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If your strata corporation is short of funds then we recommend you use your capital works fund (aka maintenance fund, sinking fund, etc).  It’s the obvious place to go – funds are readily available without diminishing the cash resources of owners.  But it makes economic sense as well – a sinking fund is the most expensive option for the majority of owners, so if you use it, you’ll be reducing the economic drag on the corporation. However, in some states, … Read More

Help for strata levies in arrears

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The strata sector is not immune to the virus. We will experience significant disruption over the coming months and owners are very fearful. We have written a guide to help strata owners and managers deal with the important cash flow decisions that will arise during the pandemic and its aftermath. Our downloadable guide covers what to do about the payments the corporation needs to make and the various ways of funding those payments should there be a shortfall. The strata … Read More