A Brisbane developer came to us partway through a residential duplex build, already in default with his existing lender. The clock was running and refinancing through a bank was never going to happen in time.
We arranged a bridging facility at a higher 78% LVR to take out the existing lender and clear the default, giving him room to keep building. Beyond the finance, we worked alongside him on the builder issues that were slowing the project down.
The result: the default was cleared, the project stayed alive, and he had a six-month runway to finish and exit.
The finance
This was a bridging finance deal.
Have something similar? We arrange bridging financefor deals the banks won’t write.
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Send through the scenario. You’ll hear back the same day with who would fund it and roughly what it costs. If it doesn’t stack up as it stands, we’ll say so and tell you what would need to change.