Firstrata Finance offers loans directly to your strata scheme, not to individual owners or the Strata Manager.
Our strata loans are unsecured: there are no mortgages, liens, charges or caveats on individual units, and there is no requirement for individual owners or committee members to provide guarantees. All loans to ‘primarily residential’ strata schemes are regulated by the National Credit Code.
The Firstrata Hybrid Loan
This innovative funding solution provides individual owners with the choice to use your own money or borrowed money to fund your share of your strata scheme’s costs.
Standard Strata Loan
A traditional strata loan for strata schemes wanting to borrow over $250k up to $10m.
Strata Lite Loan
Designed specifically for smaller strata schemes with 4 or more units, loans range from $50k up to $250k, with fast approval and access to loan funds.
These strata loan options empower strata communities to undertake significant projects, enhancing property value and resident satisfaction without placing undue financial burden on individual lot owners.
Our loan products are designed with flexibility at their core, each of our loan products can be used for a variety of reasons, including:
Defect Rectification
Flammable Cladding, Water Ingress, Structural Issues, Fire Orders
Refurbishments
Lifts, Air-Conditioning, Electrical and Hydraulics, Painting, Balconies and Balustrades, Kitchen and Bathroom Upgrades, External Works, Security enhancements, Technology upgrades, Emergency Repairs, Residential Airspace Development
Non-Building Purposes
Insurance Premiums, Litigation, Green Initiatives
Get a call back today
Find out now how our loans can be tailored and approved for your needs
