Let down by a major

Let down by a major

Let down by a major
Project Details

Location:
Marsden, Queensland

Facility Amount:
$6,520,000

LVR:
70%

Deal Writer:
Rhys Adams

Unique feature of the deal

The Borrower was seeking funding for the construction of 30 townhouses after having been let down by a major bank that shifted their presale hurdle over the course of the marketing campaign and a non-bank lender which changed its terms after works commenced on site.

Balmain provided a leveraged funding solution based on the existing presale position which included a number of contracts with sunset dates within the usual acceptable period.

Funding was provided through a Balmain managed mortgage fund.

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