balmain + commercial + big deals + december 2008
Fast Approval
January 09
| purpose | To assist with the purchase of an investment commercial property in inner Brisbane |
| loan limit | $1,575,000 |
| lvr | 75% |
| loan term | Fifteen (15) Years (Interest only for the first 5 years) |
| facility type | Investment |
| interest rate | 5.89% p.a. fixed for 2 years |
| establishment fee | 0.50% of loan amount |
Our client was seeking finance to purchase an investment property in inner Brisbane.
Despite providing indicative offers, two of the major banks including the clients existing lender were unable to provide the borrower with a formal approval within one month of application.
After meeting with the client, we were able to provide them with a formal, unconditional approval from one of our institutional partners within 5 working days and settle the site in another 7 working days. By completing on the settlement date the borrower did not incur the default interest penalty which would have applied under the terms of the purchase contract.
The current achievable yields on properties of this nature combined with the low fixed interest rate that we were able to provide enables our client to enjoy the monthly positive cashflow of this investment.
balmain + commercial + big deals + december 2008
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