Austrata Finance

Strata Loans

Strata schemes can borrow money to enable the completion of projects and property works, without depleting sinking funds or raising a large one-off levy. Strata loans are unsecured, so you don’t need to provide any collateral for your loan.

Austrata Finance funding solutions can be used for a range of property improvement, maintenance, repair and refurbishment works (including cladding replacement), as well for building insurances and even litigation costs.
What is a strata loan

Austrata provides funds directly to the strata scheme, not to the individual owners or the Strata Manager. The loan is 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’ Owners Corporations are regulated by the National Credit Code.

Loan amount

The minimum loan size is $50,000 and the maximum loan size is $10m or more.

Type of facility

Loans can be provided on a fully drawn or multiple-drawdown basis upon presentation of suitable documentation.

Loan term and repayments

Loans can be provided for a term anywhere from 3 years to 15 years. An initial interest-only period of up to two years may apply, after which the loan is to be repaid over the remaining term.

Interest rate

The interest rate is based on the loan amount, the loan term and whether the rate is fixed or variable.

Fees and charges

A Loan Application Fee of $500 is applicable, refundable if we do not approve your loan. A loan establishment fee also applies to the Austrata Hybrid Loan®. No other regular fees and charges apply, other than in the event of loan default, termination during a fixed rate period or other unusual events as stipulated in the loan agreement.

Loan purposes

Flammable Cladding, Water Ingress, Structural Issues, Fire Orders 

Lifts, Air-Conditioning, Electrical and Hydraulics, Painting, Balconies and Balustrades, Kitchen and Bathroom Upgrades

Sea Walls, Pools and Gardens, Access Ramps, Driveways 

Insurance Premiums, Litigation, Green Initiatives

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