Loan at a glance
- Loan Type
- No doc private
- Loan Amount
- $3.36M
- GRV
- $4.8M
- LVR
- 70% of GRV
- Structure
- Capitalised interest, 18 months interest-free
- Inquiry to Settlement
- 3 months
How Settled With Joe secured a $3.36M no doc private loan at 70% GRV with capitalised interest for a duplex construction in Miranda.
The Challenge
A client owned land in Miranda with an existing loan sitting at 70% LVR. They wanted to construct a duplex on the site but needed a lender willing to assess the deal against the completed value of the project, not just the current land value, and structure repayments around the reality of a construction timeline.
The Solution
Settled With Joe assessed the project against its gross realisation value (GRV), which came in at $4.8 million on completion. We secured a no doc private loan of $3.36 million, representing 70% of GRV, and structured it as a capitalised interest facility. The client made zero repayments for the first 18 months. If the build extended beyond that, interest-only repayments applied for the remaining period up to the 24-month loan term.
This gave the client a clean runway to complete the duplex and sell without cashflow pressure during construction.
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.
