| One of the many valuable features
available on our investment loan products is
the ability to obtain advances of cash. Advances
of cash are only available at the initial time
of advance. In an effort to make this transaction
flow as smooth as possible for you we've created
this short guide.
A Bit of Background
Here is an example of two $50,000 loans:
| |
| |
2 for 1 |
Wealth
Builder |
| Loan Balance |
$50,000 |
$50,000 |
| Total Mutual Funds |
$75,000 |
$50,000 |
| Loan Balance ÷ Mutual
Funds (LVR) |
67% |
100% |
Requirements
To create a loan where the loan proceeds will be advanced to you and
not to purchase mutual funds or segregated funds, we need to emulate one
of the above scenarios. In the case of a 1 for 1, you must provide us
with eligible security that doubles the is at least 50% greater than of
loan moneys required. For example, assume you wish an advance of cash
of $50,000 then you would have to provide $75,000 in Mackenzie Funds as
security prior to any loan funds being advanced. |
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