The Sponsors have a background in property development and has completed projects in Gold Coast and Gosford.
The purpose of this loan is to refinance an existing loan with another private lender.
The Sponsors can’t get bank finance as their latest financials are not up to date.
Security on offer is a residential investment property in Pymble, a suburb on the Upper North Shore of Sydney, NSW. The strata title property is a ground floor unit and comes with three bedrooms, two bathrooms, a basement double garage and a storage facility.
The exit strategy is 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