Happy Customers
The Lender wanted them to exit the current loan (via refinance or sale) as a matter of urgency. Our clients have significant equity in both the investment property and their home.
Their preference was to renovate the investment property prior to putting it up for sale as to increase its appeal and sale price, however they did not have the financials to support serviceability of a traditional loan.
Solution: Hodgestone structured a Private Loan facility, refinancing the existing 1st mortgage and releasing enough equity for the renovations to be completed.
The loan was set up with pre paid interest for the entire term, which released significant cash flow pressures and allowed them to concentrate on completing the renovations.
Loan Amount: $1,205,000
LVR: 65%
Location: Mornington Peninsula VIC
Security Property: Resi investment Property
Exit Strategy: Sale of the security property
Settlement Timeframe: 9 business days
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