Caveat Lending is the process by which a Lender provides finance to an individual or business, whereby the loan is secured through the lodgement of a Caveat over the security property. Once lodged, the Caveat will appear on the Certificate of Title for the property and will prevent any dealings from occurring that would otherwise affect the interest of the Lender/Caveator. Therefore, the individual would generally need to obtain the consent of the Lender/Caveator before, inter alia, selling the property.
Caveat Lending is generally utilised in the context of a short-term loan, whereby the circumstances are such that an individual/business’s current Lender is at full lending capacity. Though it may be seen as a short-term fix, it is imperative that the Lender complies with the National Consumer Credit Protection Act 2009 (NCCP). Please note that the NCCP may not apply with regard to certain arrangements – the application of the NCCP will therefore need to be ascertained before progressing in your matter.
At Navado, our team of Financial Services Lawyers have experience in acting and representing both Lenders and those seeking finance. As a Lender, our team can provide you with sufficient Legal Advice in relation to Caveat Lending and ensure that you understand the obligations that Lenders are required to comply with under the NCCP.
Our Financial Services Lawyers can also provide you with the following Caveat Lending services, including but not limited to:
- Drafting Caveat Loan Documents;
- Drafting Caveat Loan Contracts;
- Registering Caveats;
- Withdrawing Caveats;
- Enforcing the terms of the Caveat Loan; and
- Retrieval of repayments.
At Navado, our clients benefit from the large knowledge-base available between our different teams of lawyers. We do understand that there are cases which require a practical knowledge of different jurisdictions and/or different areas of the law. At Navado, we ensure that the benefits derived from our inter-team discussions are synergetic and are completed in a time effective and costs efficient manner, in the best interests of all of our clients.
If you wish to meet with a Solicitor from our team of Financial Services Lawyers, please contact our firm by telephone on (02) 9233 4048 or send us an email at info@navado.com.au.
This webpage (and any material or wording appearing on this webpage) is provided for general information purposes only and does not constitute any Legal Advice. It does not take into account your objectives, your instructions or all of the relevant facts and/or circumstances. Navado accepts no responsibility to any person who relies on the information provided on this website. We further refer you to our Disclaimer.
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If you require assistance with a matter, you should make an appointment to see one of our Lawyers in one of the following locations:
- Sydney
