Loan at a glance
- Scenario
- Mid-construction rescue and refinance
- Settlement Value
- $4.5M
- LVR
- 55% of GRV
- Asset Type
- Duplex
- Inquiry to Settlement
- 4 months
How Settled With Joe refinanced a stalled duplex construction in Five Dock after a builder dispute, securing additional funds to complete the build and settling at $4.5M in four months.
The Challenge
A client in Five Dock was mid-construction on a duplex with an existing major bank construction facility in place when their builder walked off the job following a serious dispute. The project stalled, the existing facility became untenable, and the client needed urgent refinancing plus additional funds to appoint a new builder and complete the build.
The Solution
Settled With Joe refinanced the existing major bank debt and secured additional funding to complete construction. The deal settled at $4.5 million, representing 55% of GRV, within four months. By restructuring the facility entirely, the client was able to re-engage a new builder and see the project through to completion.
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.
