INVESTMENT OVERVIEW
The Borrowers have a strong background in property development and have successfully completed several similar projects in recent years.
The purpose of this loan is to provide additional funds to support their duplex development project in Victoria.
The Borrowers are unable to secure traditional bank finance due to the unconventional nature of capitalised interest.
Security on offer includes two residential properties in Campbellfield, a suburb in Melbourne, Victoria. The first property sits on 344 m² of land and features a house with three bedrooms, two bathrooms, two living rooms, two dining areas, a lock-up garage, and a carport. The second property sits on 538 m² of land and includes a house with four bedrooms, three and a half bathrooms, two living areas, a lock-up garage, and a carport for five vehicles.
The exit strategy is to sell one of the properties to repay the debt.
This loan has a fifteen month pre-paid loan term, with the option for three monthly extensions.
SECURITY DETAILS
- The loan will be secured by Second Mortgage
- Three Personal Guarantees from Individual Sponsors
- One General Security Agreement over Corporate Sponsor + PPSR Charge
- Three General Security Agreement over Individual Sponsor + PPSR Charge
