Approval Process

Once the proposed loan has been considered and the Commitment Fee has been received, MKM Capital will instruct its panel valuer to confirm the security valuation. If approved, MKM will issue a Loan Offer Document, and instruct its solicitors to prepare mortgage and other documents required to complete the loan transaction.

Documents common to each loan facility include:

Indicative Loan Offer Document
The Indicative Loan Offer Document contains the borrower, guarantors, amount, term and interest rate of any proposed facility. It will note applicable conditions both prior to and subsequent to funding. It is subject to change at any time prior to funding and will list any further documentation or information MKM Capital may require.

Conditions Precedent
As part of the Approval Process, the MKM Capital Credit Committee may at its discretion include approval conditions to be satisfied prior to funding. These requirements will be contained in the Indicative Letter of Offer as Conditions Precedent.

Deed of Priority (For 2nd Mortgages)
If the consent of a 1st Mortgagee is required, MKM Capital will instruct its solicitors to issue a Deed of Priority which must be executed correctly prior to settlement.

Accountant’s Declaration
Clients are to provide an Accountant’s Declaration on the accountants letterhead confirming the clients ability to meet all obligations under the proposed Loan. A template will be provided by your BDM to assist.