$5.3M Equity Release Across Four Properties Funds Palm Beach Investment Purchase

The Brokerage recently structured $5.3M in lending for an overseas-based client, coordinating four refinances and a new purchase to release equity across their existing portfolio and fund an investment property in Palm Beach, Queensland.

Our client, a professional athlete competing overseas, earned foreign income under a contractual arrangement that limited their lender options. They wanted to release equity from four existing investment properties to fund the deposit on a new purchase in Palm Beach, which required five interdependent loan applications to be coordinated within tight timeframes.

Key highlights of the transaction include:

• Foreign income accepted: We secured the refinance component with Bankwest, which accepted the client’s foreign and contractual employment income without shading and supported the required cash-outs.
• Portfolio equity released: Four refinances were coordinated across the existing portfolio to release equity for the new acquisition.
• Fast turnaround: Unconditional refinance approval was achieved within four days of lodgement.
• Improved position: The client’s average interest rate was reduced from 6.54% to 6.34% across their existing properties, with lower ongoing lender fees and improved future flexibility.
• Purchase funded: The new purchase was funded through La Trobe Financial, where our policy knowledge and lender relationship helped expedite the process.

The result was a seamless execution of a complex lending strategy, enabling the client to expand their property portfolio despite foreign income and lender policy challenges.

Purpose: Equity release to fund an investment property purchase

Profile: Overseas-based investor earning foreign income

Loan Size: $5,300,000   Location: Palm Beach, QLD