INVESTMENT OVERVIEW
The purpose of this loan is to refinance existing debt and release equity to complete the land subdivision.
The Borrowers are unable to obtain traditional bank finance within the required timeframe, as their previous loan and funding arrangements are expiring.
Security on offer is a residential property located in East Cannington, WA. The property sits on a 4,052 sqm allotment and comprises a two-bedroom, one-bathroom residence with a garage.
The exit strategy is to sell the subdivided blocks of land once the subdivision is complete.
This loan has a twelve month pre-paid loan term, with the option for three monthly extension.
SECURITY DETAILS
- The loan will be secured by a First Mortgage
- Two Personal Guarantees from Individual Sponsors
- General Security Agreement over Corporate Sponsor + PPSR Charge
