The Sponsors have backgrounds in property investment.
The purpose of this loan is to refinance and complete the renovation of a residential property in Glen Iris, VIC.
The Sponsors can’t get bank finance as their financials are not up to date.
Security on offer is a residential property in Glen Iris, a quiet suburb situated southeast of Melbourne’s CBD. The cozy detached house is on 1,006msq land and comes with two bedrooms, one bathroom, 1 study, and two lockup garage.
The exit strategy is to sell the property or to refinance out once financials are prepared.
- The loan will be secured by a First Mortgage
- Personal Guarantees from Individual Sponsors
- General Security Agreement over Corporate Sponsor + PPSR Charge