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 secured and settled a 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 secured an approval via one of our private lenders 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.

Retired applicants (no servicing) seeking bridging finance

Selling: a property in Point Vernon QLD for $390,000

Purchasing a property in Torquay QLD for $250,000

Existing mortgage to refinance against Point Vernon security = $16,000

Intention was to sell the existing property and the sale would extinguish the debt and leave the new property unencumbered with extra cash available to fund lifestyle.

Solution

GCC successfully secured a $300,000 total loan (50% LVR) to pay existing mortgage, purchase new security and prepay interest for the term.

Our clients were in the process of building a property in South East QLD.

They were self-employed tax specialists for over 20 years, and despite their minimal outstanding debt, their existing bank would not provide funds, given the property was under construction.

Solution

We saw the value of their project and were more than happy to help, lending our client the $180k needed to complete the dwelling. Provided $180k to complete the dwelling for a term of 6 months.

Interest was prepaid. Borrower was able to complete the project and refinance to a major within the loan term.