Unique Security Property
Unique security that the bank wanted gone
Our client had multiple commercial securities situated across Victoria and NSW which were being used legally, but in an industry that the banks didn’t want their names on. Whilst they had done the loans for the client initially, a change of management saw our client having to look for other options when the Bank asked him to refinance the loans and gave him a very short timeline to do so.
He was also looking to purchase additional, established businesses in the same industry and it may have been that approach that triggered the bank to have a harder look at the loan and reach their decision around requiring the client to refinance.
Our Solution
The properties were valued on an alternate use basis and vacant possession.
We were able to offer 70% of the value of the security though a private fund on a 12 month term with roll over available.
We not only assist in the straight forward transactions , we also specialise in assisting clients get back on track after experiencing issues with their financial situation. We understand that sometimes life happens. If you are a company or commercial borrower and have equity in property, then in 90% of cases we can assist.
We can set up a loan facility to get you back on track ready to return to a mainstream lender or buy you time to sell on your terms not the banks.