Refinance from a private lender

Client needs urgent refinance from a private lender.

Overview

The Clients has a background in property investment and is considered as a sophisticated investor. The broker told us that the client needs urgent refinance from a private lender. The client owns three investment and commercial properties in Potters Point. All their properties mortgaged with different lenders and cross- collateralized. Due to covid-19, one of commercial property is vacant for a long time and that has started to cause issues. They planned to slowly restructure their portfolio and removed a property from a private lender. Maxiron Capital was quickly able to supply finance solutions to the clients.

Summary

Loan Info
Details
Property Location
Potts Point NSW 2011
Loan Purposes
Refinance of business property
Exit Strategy
Sale of asset
Security
1st Mortgage on Residential Property
Property Value
$5,500,000
Loan Amount
$4,800,000
Loan Term
2 months Capitalized
LVR
80%
Setup Cost
1.7%
Settlement Turnaround
3 days
Our solution
We consider all property types and location. Current property had an 80% LVR, we have approved a higher cash out amount meeting client's expectation.