Property Refinance- Rosemount, QLD
The Borrower is a lawyer and operates her own law firm. She has recently divorced and is required to buy out ex-husband’s share from their company and other assets.
The purpose of this loan is to refinance an existing loan and for the title to be transferred from two names to one name.
The Borrower can’t get bank finance as her current financials do not support further borrowing.
Security on offer is an investment property in Rosemount, a rural locality in the Sunshine Coast Region, Queensland. The property is on 65,000msq land which comes with a 200msq house. The residential property features four bedrooms, one bathroom, and a huge parking space for nine cars.
The exit strategy is to refinance out to a long term facility once financials are prepared or sell the property.
This loan has an 6 month pre-paid loan term, with the option for 3 monthly extensions.
Details
Security Property Valuation: $1,550,000
Loan Amount: $1,085,000 (First Mortgage)
LVR: 70.00%
Term: 6 months prepaid plus 3 monthly extensions
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