Case Study

2nd Mortgage 65% LVR

Broker Approached us with a client needing Cashout ( Equity Release) from existing property (Metro Sydney ) to pay out a business ATO debt and Business CC balance due to high interest is charged on the facility.

Client needed a short 3 months loan term for the account receivable fund to come through and clear the balance. Each day is costing the business high interest due to the CC facility.

Summary

Current LVR of 65% ⟶ Cash out for ATO / CC Debt ⟶ Fast turnaround within 5 business days | Prevent further loss in interest Cost

Loan Info
Details
Location
SYD Metro
Loan Purposes
Pay out ATO debt and Business credit card debt
Exit Strategy
Business accounts recievable
Security
2nd Mortgage Owner Occupied Property
Property Value
$2,500,000
Loan Amount
$250,000
Loan Term
3 Months
LVR
75%
Payment Type
Capitalised
Settlement Turnaround
5 days
Our solution
We consider all property type and location Current property had a 65% LVR, we have approved a higher cashout amount meeting client's expectation. Fund was provided within 5 business days.