Fast Finance – Funds for Flip/Renovation in Less Than Two Weeks
Scenario
The purpose of this loan was to complete the purchase of a residential property, with the borrowers intending to renovate and sell the asset at a higher value.
Security provided was a residential property situated on a 810sqm double block allotment. The property features four bedrooms, one bathroom, and a two-vehicle carport, offering strong potential for value uplift through renovation.
Why PMA?
The borrowers were unable to secure traditional bank finance due to the urgency of the funding requirement, creating a need for a fast and flexible lending solution to proceed with the acquisition.
PMA Solution
PMA was able to meet the urgent settlement requirements.
Details
Loan Amount: $327,000 (First Mortgage)
Property Value: $468,500
LVR: 69.80%
Term: 3 months prepaid plus 1 monthly extension
Exit
The proposed exit strategy is to renovate and sell the property, with proceeds used to fully repay the loan facility.
Ready to discover how PMA can help provide finance solutions for your business (or your client's business)? Submit a scenario now and we'll get in touch (4-business hours response time guaranteed!)
