Loan Amount
$1,007,500
LVR
65%
Security Location
Yeppoon, QLD 4703
Interest Rate
9.99%
Establishment Fee
1.50%
Loan Term
36 Months
Exit Strategy
Sale of the security property.
Why the client was unable to obtain bank finance?
Security was Category 2 vacant land. Not many lenders had appetite at that LVR and the client was looking for an initial 12-month prepaid structure to help with business cash flow.
Timeframes
4 weeks to settle upon receipt of the signed Conditional Offer.