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Residual stock loans is developments projects reach completion with apartments / dwellings still available for sale. Developers typically look to residual stock finance to repay the balance for any construction debt and to release some equity from the project.
Lending against completed Land Lots, dwellings and apartment units that are either sold but not yet settled or yet to be sold. Rather than one large loan facility covering all of the residual stock, at Maxiron Capital, we can set up separate for each land lots, unit or dwelling.
As you sell each unit, the loan facility is paid out and closed.
Maxiron Capital offer real estate against lending to a maximum of 75% of the valuation. We offer loans starting from $500,000, up to $5,000,000 on either 1st mortgage loans or 2nd Mortgage loans. ( Loans over $5,000,000 considered on a case by case basis)
Residual stock loans are for professional property developers who have completed a project and want to hold on to some of the remaining units/dwellings rather than sell them as a fire sale just to pay out their development loan.
During periods of market oversupply, offloading your remaining units in a fire sale can be difficult.
Banks don’t have a strong appetite to lend against a block of units with a high vacancy rate.
However at Maxiron Capital, you can refinance your development loan to a short-term take out loan so you can hold onto your residual stock.