Residential Subdivision

Residential Subdivision

Residential Subdivision
Project Details

Location:
Heathwood, Brisbane

Facility Amount:
$3,655,000

LVR:

Deal Writer:
Rhys Adams

Unique feature of the deal

The borrower approached Balmain after their existing bank was unable to approve funding for an 80-lot residential subdivision.

Balmain negotiated a staged approval allowing the developer to start the project and sales resulting from the commencement of works triggering funding approval for subsequent stages.

Funding was delivered at an interest rate of 6.90% compared to competing offers in excess of 10%.

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