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Urgent Settlement

A new client came to us seeking help securing finance after they’d bought a Retail Strip Shop leased to the an Australian Bank at Auction. Because they bought at auction, the contract was unconditional.

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Urgent Settlement
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Happy Customers

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The clients had not borrowed money from a bank for over 2 decades, and were unaware of the difficulties in securing bank funding in the current climate.

The clients were semi retired and so could not prove serviceability in the way a bank requires.

Luckily, they had a lot of equity in existing properties, which allowed us to structure a loan utilising the equity in their property portfolio.

we were able to deliver a funding solution, from start to settlement, within 3 days, meaning the borrowers did not lose their deposit and in turn incur potential further legal action.

Deal Summary

Loan Amount:$2,785,000

LVR:41%

Location:Mornington Peninsula

Security Properties:Purchase Property (Commercial) & an additional Rural property that was unencumbered.

Exit Strategy:Sale of Rural Property

Settlement Timeframe:3 business days

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