The Sponsors have a background in selling granny flats and transportable properties.
The purpose of this loan is to refinance an existing loan and complete the purchase of a residential property in Woodridge, Western Australia.
The Sponsors can’t get bank finance as their latest financials are not up to date.
Security on offer are two residential properties in Woodridge, a rural residential estate located at the north of Perth, Western Australia:
- Land size of 2.62 acres with a residential property comprising of 4 bedrooms, 2 bathrooms, a huge swimming pool and an outdoor entertainment area. This property is currently for sale.
- Land size of 56 acres with a residential property comprising of 4 bedrooms, 2 bathrooms and a garage.
The exit strategy is to sell the previously purchased property to repay the debt.
- The loan will be secured by two First Mortgages
- Personal Guarantee from Individual Sponsors
- General Security Agreement over Corporate Sponsor + PPSR Charge