Property Refinance -Shannon Vale, NSW
The Borrowers have backgrounds in cattle farming and managing rural properties.
The purpose of this loan is to refinance an existing loan and for additional working capital.
The Borrowers can’t get bank finance as their current financials are not yet prepared.
Security on offer is a rural cattle and sheep grazing property in Shannon Vale, a small town in Glen Innes Severn, NSW. The property is on 33.29ha land which comes with a five-bedroom house and another three-bedroom house on the property.
The exit strategy is to refinance out once financials are completed.
This loan has a 12 month pre-paid loan term, with the option for 3 monthly extensions.
Details
Security Property Valuation: $1,540,000
Loan Amount: $770,000 (First Mortgage)
LVR: 50.00%
Term: 12 months prepaid plus 3 monthly extensions
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