Property Purchase – Rockbank, VIC
The Borrowers have backgrounds in property development and investment and they currently own several investment properties in Victoria. They are also involved in operating private training colleges in Melbourne.
The purpose of this loan is to complete the purchase of an investment property in Rockbank, a suburb in Melbourne, Victoria.
The Borrowers can’t get bank finance as their current financials do not support further borrowing.
Security on offer is the residential property in Rockbank, Victoria. The property is on 1.93ha land which comes with four bedrooms, bathrooms, and a garage.
The exit strategy is to refinance with a major bank or sell the property.
This loan has a 12 month pre-paid loan term, with the option for 3 monthly extensions.
Details
Security Property Valuation: $5,020,000
Loan Amount: $3,263,000 (First Mortgage)
LVR: 65.00%
Term: 12 months prepaid plus 6 monthly extensions
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