The Sponsor has a background in property development and has completed projects in Metford, Wahroonga, and Bolwarra Heights in NSW. The Sponsor is currently working on an extensive renovation on a residential property in Roseville, NSW.
The purpose of this loan is to complete the purchase of another residential property in Kirribilli, a harbourside suburb of Sydney on the north side of the Harbour Bridge in New South Wales.
The Sponsors can’t get bank finance as their financials do not satisfy traditional lenders servicing requirement.
Security on offer is an apartment in an art deco building in Kirribilli, NSW. The residential property is on 83msq living space with two bedrooms, one bathroom and a beautiful balcony overlooking the panorama of Sydney Harbour.
The exit strategy is to complete financials and refinance out to construction finance.
- The loan will be secured by a First Mortgage
- Personal Guarantees from Individual Sponsors
- General Security Agreement over Corporate Sponsor + PPSR Charge