The clients approached The Brokerage with the goal of purchasing a new owner-occupied property, using an existing unencumbered property as collateral.
We faced several challenges, including a tight five-day finance clause, the applicants’ age, and the performance of their business for mortgage servicing.
To address these issues, we worked closely with the clients to develop a strong exit strategy, which helped us secure a 30-year loan term. The client’s business significantly outperformed in FY23 compared to FY22, and due to our relationship with the lender we were able to use the current year’s income in isolation, as it was a true reflection of business performance moving forward.
Purpose: Purchase an owner-occupied property
Loan Amount: $1,282,500
Security Value: $2,102,071
LVR: 61%
To find out more about how we can help, contact our team today.
