Investment Purchase – Bundaberg Central, QLD
The Borrowers have backgrounds in property investment.
The purpose of this loan is to complete the purchase of a vacant block for future development in Bundaberg Central, Queensland.
The Borrowers can’t get bank finance as their current financials are not yet prepared.
Security on offer is a 571msq vacant block in Bundaberg Central, Queensland, with two-street frontage in the Bundaberg CBD.
The exit strategy is to refinance to a construction loan.
This loan has a six month pre-paid loan term, with the option for three monthly extensions.
Details
Security Property Valuation: $225,000
Loan Amount: $123,750 (First Mortgage)
LVR: 55.00%
Term: 6 months prepaid plus 3 monthly extensions
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