Loan at a glance
- Loan Type
- Non-bank Tier 3 private lender
- Loan Amount
- $2.5M
- LVR
- 65% of GRV
- Structure
- Capitalised interest
- Exit Strategy
- Refinanced to low doc on completion
- Inquiry to Settlement
- 2 months
How Settled With Joe secured $2.5M at 65% GRV with capitalised interest for a built-to-hold townhouse development in Wallsend, with a planned refinance to low doc on completion.
The Challenge
A client in Wallsend wanted to build four townhouses as a long-term rental portfolio, a built-to-hold strategy rather than a sell-down. With 60% LVR existing debt on the land and a non-conforming income profile, mainstream lenders were not an option. The client also needed a repayment structure they could sustain through the build.
The Solution
Settled With Joe placed the deal with a Tier 3 non-bank private lender, securing $2.5 million at 65% of GRV on a capitalised interest structure. The client made no repayments during construction. Once the townhouses were completed and tenanted, we refinanced the client into a low doc loan at more competitive terms. This was the intended exit from day one.
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.
