Cladding Rectification
Australia’s leading Strata Lender
Lannock Cladding Rectification Funding
Combustible cladding is a major issue facing residential and commercial strata properties across Australia. Buildings with combustible cladding are being required by law to rectify or face large penalties as a consequence of non-compliance.
Strata owners in all states are increasingly being required by legislation to rectify the cladding and may face large penalties if they do not comply.
Lannock will fully fund all cladding rectification to assist owners tomeet their financial and legal obligations.
Strata owners in all states are increasingly being required by legislation to rectify the cladding and may face large penalties if they do not comply.
Lannock will fully fund all cladding rectification to assist owners tomeet their financial and legal obligations.
A Lannock Cladding Rectification Funding allows an Owners Corporation to:
Access full funding required for all cladding rectification work
Fix cladding now at today’s costs
Easy drawdown process when funds are required
Pay no fees or interest on any amount not used
Make an early repayment in full without penalty, simply contact us to deduct the final interest amount on your next monthly payment
Make their building safe
Why Choose Flexible Strata Funding from Lannock?
Strata projects are full of complexities and unknowns… our innovative strata funding solutions are simple and secure.
We’re the leading strata funding specialists. We don’t just lend to Owners Corporations, we are Australia’s experts at it. Benefit from our +20 years of proven experience.
An expert team with boots on the ground. You’ll have a dedicated relationship manager with personalised insights and guidance at every step of the process.
Fully Transferable ‘User Pays’ Solutions. Levies to service a facility is tied to the lot, not the individual owners. Don’t be tied down with unnecessary risk. Our flexible use funding can accelerate your projects so you get to enjoy the benefits while owning the property.
Transparent and Competitive Terms. You have the control and flexibility to set the length of your facility and interest-only periods at each drawdown of your multi-drawdown facility.
Free from complexity and administrative burden. Straightforward, secure and tax-compliant strata funding, with low ongoing administration.
Speak with an adviser about the tax benefits of strata finance.
Convenience and affordability. Our flexible funding facilities are there when you need them and offer significantly higher benefits (tax-offsets, cashflow, lifestyle) than sinking funds or special levies.
We’re the leading strata funding specialists. We don’t just lend to Owners Corporations, we are Australia’s experts at it. Benefit from our +20 years of proven experience.
An expert team with boots on the ground. You’ll have a dedicated relationship manager with personalised insights and guidance at every step of the process.
Fully Transferable ‘User Pays’ Solutions. Levies to service a facility is tied to the lot, not the individual owners. Don’t be tied down with unnecessary risk. Our flexible use funding can accelerate your projects so you get to enjoy the benefits while owning the property.
Transparent and Competitive Terms. You have the control and flexibility to set the length of your facility and interest-only periods at each drawdown of your multi-drawdown facility.
Free from complexity and administrative burden. Straightforward, secure and tax-compliant strata funding, with low ongoing administration.
Speak with an adviser about the tax benefits of strata finance.
Convenience and affordability. Our flexible funding facilities are there when you need them and offer significantly higher benefits (tax-offsets, cashflow, lifestyle) than sinking funds or special levies.
No Job is too Big or too Small
Most flexible strata funding available. No job is too big or too small. No minimum funding amount.
Simple & Fast Process
Contact us today for a Funding Proposal so you can get started quickly.
Dedicated Team
Specialist and dedicated team ready to help owners and strata managers around Australia.
We Lend
We can lend for renovations, defects, green projects, strata insurance, litigation and more.
Our Flexible Strata Funding Solutions
We are strata funding specialists. We focus on providing flexible and streamlined funding to strata communities.
Lannock provides unsecured funding solely to the Owners Corporation. Our facilities are flexible and fully transferable with the sale of a property.
Nothing is lent to individuals.
Lannock provides unsecured funding solely to the Owners Corporation. Our facilities are flexible and fully transferable with the sale of a property.
Nothing is lent to individuals.
- No impact on your individual credit rating.
- No personal guarantees are required.
- No mortgages, banker’s liens, or caveats.
Facility Amount
We offer a range of ‘user pays’ strata funding solutions that are flexible and secure.
- Up to 35% LVR for buildings with over 20 lots.
- Typically, Lannock provides 100% of funds borrowed. However, our solutions often compliment a mix of equity to fund a project.
- No minimum or maximum facility amount.
Multi Drawdown Facilities
You can draw down on your facility at any time during the Availability Period – typically 12 months from the date of the Facility Agreement.
Lannock deposits funds directly to the Body Corporate’s account to pay contractors as works are completed.
It’s your project, on your terms. Foreach drawdown, you have the flexibility to set your:
Lannock deposits funds directly to the Body Corporate’s account to pay contractors as works are completed.
It’s your project, on your terms. Foreach drawdown, you have the flexibility to set your:
- Term of Advance (1-15 years).
- Interest Only Period (up to 5 years).
Owners Corporations only pay for what is drawn down, after it is drawn down.
Low-Administration and Tax-Compliant
Strata is full of complexities and unknowns… our products aren’t.
- Simple and straightforward administration
- Repayments are automated monthly direct debits.
- Levies for the repayment of the facility are tied to the lot, not to the individual owner – it is transferable!
We are not financial advisers or bankers. We specialise in strata finance to fund strata communities. Significant components of our solutions can provide a tax benefit for Owners Corporations and owners. You should seek tax advice to ensure you are saving the most you possibly can.