Funding Secured
An existing client with a $2.5M facility secured against a residential property sought to access equity for the future purchase of a development site. We initially explored refinancing the entire facility with alternative lenders and secured several competitive offers.
Leveraging these, we approached the client’s current lender and successfully negotiated a lower interest rate and reduced application fees. In the end, we were able to secure the funds the client needed while keeping them with their current lender, saving them on interest costs and avoiding the hassle of switching lenders.
| Existing Loan Split: |
$2,500,000 |
| New Loan Split: | 64% LVR |
| Security Value: | $6,000,000 |
| Lender |
Non-Bank |