$1.725M
Luxury apartment purchase, settled inside a week
A Sydney client was buying a luxury apartment on the Gold Coast, and we were up against it from day one. It had to settle by the Wednesday, less than a week away, and the deal needed a contract variation the client hadn't been able to get on their own.
We arranged it on an accountant's declaration at 75% LVR. That covered the full purchase price and freed up close to $200,000 in cash for the client's business on top. We ran it interest only over a twelve-month term to keep the monthly repayments down and pull out as much cash as the deal allowed. The contract variation came through relationships we have across the finance and legal side, something the client hadn't been able to shift on their own before they came to us.
It settled at $1,725,000 inside the week, with the loan documents done online instead of the usual in-person signing at a lawyer's office. Deals like this come down to knowing which lender will actually move on a fixed date, and how to put the finance together.
The finance
This was a first mortgage deal.
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