Progressively-drawn Construction Loan
Pillarview Invest
We were recently approached by a borrower that had been left at the alter by their existing lender, who pulled out only two weeks before settlement of their construction loan was scheduled, after demanding more presales at the 11th hour.
Our Solution
Our private fund, Pillarview Invest, approved, documented and settled a new construction loan for the Borrower only 12 days after the initial enquiry.
This enabled the outgoing mortgagee’s facility to be repaid prior to expiry, saving the borrower thousands in penalty interest.
| Loan Amount | $2,326,117 |
| Gearing | 65% of the as-if-complete value, ex GST |
| Interest Rate | 9.50% p.a |
| Lender | Pillarview Invest |
To find out more about how we can help, contact our team today.
