Private lending solutions provide a quick & effective that can be the first step to a longer term outcome for investors & property developers
A $25M development project was interrupted when one of the directors faced legal issues overseas.
As a result, the Bank funder financing the project was hesitant to continue funding it. Our lender negotiated with the Bank funder to take over the debt while the Bank continued on the title. This allowed the project to proceed without any impact on the funding due to the legal issues.
A developer required additional funds to complete a project due to cost overruns. Our Investor/Lender extended sufficient funds to cover interest and the remaining capital required to complete the construction, based on an accountant’s letter for evidence of servicing. The funds were provided without the need for a 2nd mortgage and a QS for drawdowns, and the developer was able to hold the cash to negotiate better deals for future purchases.
For a sticky residential construction project, our lender had the property valued “as is” and “on GRV” and gained three real estate appraisals from local real estate agents supporting the valuation. Payments were made directly to the builder upon provision of completed works and QS report to confirm, after refinancing the Bank Lender.
In the case of a rural refinance, a couple divided a property and their debt equally. One partner decided to sell their portion of the property, and the client was looking for a straight refinance. We bought out and refinanced the estranged partner, keeping the total farm within the family for future generations.
In a fast settlement residential project, we facilitated the valuation and settlement of the purchase within the 7-day period based on the land-only value of the property. This prevented further costs and penalties associated with the contract falling over without the need for the Banks discharge providing collateral security.
Private lending provides quick and effective solutions that are often the first step to a longer-term outcome/strategy. In order to effectively structure private lending deals, at Loanbrite we focus on the outcome our client desires, considering private lending as part of a long-term strategy, thinking creatively and viewing the interest rates in context. Remember that a term sheet isn’t an approval offer and that transparency is essential in lending. At Loanbrite, we provide a firm commitment with our Letter of Offer, which reflects our intention to lend.
