INVESTMENT OVERVIEW
The Borrower is a licenced registered builder located on the mid-north coast of NSW specialising in residential new builds and renovations.
The purpose of this loan is to refinance an existing loan and provide additional funds for the construction of a duplex on the security property.
The Borrower is unable to secure traditional bank finance as their current financials are not yet ready.
Security on offer is the residential property in Thrumster, a suburb of Port Macquarie, a town in New South Wales. The property sits on 635msq of land and features four bedrooms, two bathrooms and a double lock-up garage.
The exit strategy is to complete the duplex and sell the property to repay the loan.
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 First Mortgage
- Two Personal Guarantees from Individual Sponsors
- One General Security Agreement over Corporate Sponsor + PPSR Charge
- Two General Security Agreement over Individual Sponsor + PPSR Charge
