Loan at a glance
- Loan Type
- No doc private
- Project Value
- $10.5M
- LVR
- 65% of GRV
- Structure
- Capitalised interest
- Asset Type
- Mixed dwelling (residential, affordable housing, student accommodation)
How Settled With Joe funded a $10.5M mixed-dwelling boarding house development in Ashfield at 65% GRV with a no doc private lender and capitalised interest structure.
The Challenge
A client required funding for a 30-room boarding house in Ashfield catering to university students, incorporating affordable housing components. At $10.5 million, the project was a mixed-dwelling development combining residential, low-income, and student accommodation. This sits outside standard lending criteria and requires a lender with genuine appetite for complex mixed-use assets.
The Solution
Settled With Joe placed the deal with a no doc private lender at 65% of GRV on a capitalised interest structure, allowing the client to progress through construction without repayment obligations. The mixed-dwelling nature of the project was assessed holistically against the gross realisable value rather than by individual use category.
Need Construction or Development Finance?
Settled With Joe assists borrowers across all stages of the build cycle. We can help you source capital from $200K to $15 million to complete your project, drawing on a lender panel of 90+ bank, non-bank, and private lenders.
