Over the years we have successfully funded many Residential Property Loans, the following are a small selection for your review:

The applicants had purchased the residential property some 4 ½ years before approaching GCC for this facility. During that time they had renovated the property extensively.

Their existing facility with their bank was $2.5M which was used predominately to renovate and improve the property.

The clients wished to refinance this facility and have cash out of an additional $2M which would increase the facility amount to $4.5M, however they could not provide financials to demonstrate serviceability so their existing bank was unable to assist.

Solution

GCC was approached to facilitate the finance request. GCC ordered a valuation which came in at $10M. We provided a Residential Property Loan facility of $4.5M from a private lender without the need for financials, at a rate which was competitive compared to the prevailing Bank rates.

Our client was a semi retired developer who needed to refinance his existing property located on the beach front just south of Sydney.

The clients existing facility was in 3 months arrears and the borrower could not demonstrate serviceability, however his intention was to sell the property.

Solution

GCC provided a Residential Property Loan for a $2.2M facility for 12 months which included 6 months interest prepaid within the facility to allow the borrower sufficient time to sell one of the units.