$2.995m loan to settle option on vacant land

loan to settle option on vacant land

CLIENT: Property development business, obtained DA prior to settlement

REQUIREMENT: Funds required to settle on option over vacant land, option to paydown debt

SOLUTION: 6 month term 50% LVR funded at 8% p.a with interest serviced monthly

COMMENTS: 75% presale debt cover was not sufficient for major lender to approve

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