CASE STUDIES

3 DAY SETTLEMENT ON A TENANTED COMMERCIAL PROPERTY

CLIENT CHALLENGE:

A borrower found himself in a precarious situation after exhausting all funding avenues. He faced a tight deadline to settle on a commercial property comprising six strata titles. With only three business days to act, failure to settle would mean losing both his deposit and the increased potential equity gained since signing the sale contract a year earlier.

THE WEALTHCORP FINANCE SOLUTION:

We swiftly identified and secured a lender capable of advancing $4.2 million (70% LVR), using the six strata titles as collateral under a first mortgage. The funding was arranged and the deal successfully settled within just three days of the initial application.

Future Steps:

The client plans to refinance with a mainstream lender within the next three to six months, aiming for more favorable terms as the immediate financial pressure has been alleviated.

DEVELOPER NEEDED IMMEDIATE FUNDS TO SECURE PROJECT SITE

CLIENT CHALLENGE:

A borrower identified a prime opportunity to purchase a development site planned for 19 townhouses, located just 1 km from the Melbourne CBD. The only security the borrower could offer was the site itself, with no additional assets available to leverage.

THE WEALTHCORP FINANCE SOLUTION:

We efficiently located a lender willing to provide substantial financial backing. The lender offered $5.04 million (70% Loan-to-Value Ratio) for a 12-month period, with an option for renewal. Additionally, a $0.77 million GST Facility was arranged to cover GST expenses over 60 days. The title to the townhouse development site was held as the sole security for this financing.

Future Steps:

Following the loan approval, the client successfully secured the necessary pre-sales to initiate construction. We then facilitated a construction loan that allowed the borrower to repay the initial loan and fully fund the completion of the townhouse project. This strategic financial maneuvering not only safeguarded the project’s commencement but also ensured its progress toward a successful completion.

"NOTICE TO COMPLETE" ON COMMERCIAL PROPERTY SETTLEMENT

CLIENT CHALLENGE:

A property developer faced a critical deadline after already delaying the settlement on a commercial property located in Melbourne metro. With a 'Notice to Complete' issued by the vendor, the developer was on the brink of losing a $350,000 deposit if unable to finalize the transaction within seven days.

THE WEALTHCORP FINANCE SOLUTION:

We promptly sourced a lender who provided first mortgage funding at a 70% Loan-to-Value Ratio (LVR) on a six-month term. This swift action enabled the client to settle on the property efficiently. Due diligence was swiftly conducted, and the necessary funds were advanced within just seven days from the application's submission.

Future Steps:

Following the successful settlement, the client managed to secure a construction loan from another bank. This new financing arrangement allowed the developer to refinance the initial loan, providing a foundation to proceed with the development project under more stable and long-term financial terms.

DEVELOPER NEEDED IMMEDIATE FUNDS TO SECURE PROJECT SITE

CLIENT CHALLENGE:

A borrower had secured a significant opportunity to purchase a 3,000m2 development site in the Sydney CBD. To facilitate liquidity, the borrower was in the process of selling down five unencumbered townhouses from a previous development.

THE WEALTHCORP FINANCE SOLUTION:

We quickly identified a lender who was willing to provide $5.6 million in funding, securing the loan against the titles of the five unencumbered townhouses. This enabled the borrower to rapidly access the necessary capital, with the entire deal being finalized within just five days from the initial application.

Future Steps:

Following the acquisition of the development site, the borrower methodically repaid the advanced loan with the proceeds from the sale of each individual townhouse. This strategy ensured a smooth financial transition and maintained the liquidity needed for ongoing and future projects.

IMMEDIATE FUNDS NEED TO ACQUIRE ADJOINING COMMERCIAL PROPERTY

CLIENT CHALLENGE:

The borrower, owning two commercial properties in suburban Brisbane, encountered a valuable opportunity to acquire an adjoining property before it went to auction. Securing this property offered strategic advantages and synergistic potential, consolidating the three properties as a unified asset.

THE WEALTHCORP FINANCE SOLUTION:

We acted swiftly to source a lender who could meet the borrower's needs, securing $1.85 million in funding at a 65% Loan-to-Value Ratio (LVR). This financing took all three property titles as collateral under a first mortgage. The entire transaction was efficiently settled within six days from the submission of the initial application.

Future Steps:

Following the successful acquisition and consolidation of the properties, the borrower transitioned the financing to a major bank within six months. This refinancing allowed for more favorable terms and positioned the borrower advantageously for further development or investment opportunities involving the newly unified property line.

Non-resident purchaser need to settle on Off-the-plan apartment

CLIENT CHALLENGE:

The borrower needed to finalize the settlement on an apartment in Melbourne, which they had purchased off the plan two years prior. Intended as a residence for their children studying abroad, the situation was complicated by the borrower's status as a non-permanent resident of Australia and their self-employment in Mainland China.

THE WEALTHCORP FINANCE SOLUTION:

We quickly identified a lender who could accommodate the unique circumstances of the borrower. A loan of $1.2 million was advanced at a 70% Loan-to-Value Ratio (LVR), with the apartment's title secured as the first mortgage. The process from initial application to settlement was impressively completed within just nine days.

Future Steps:

The client now enjoys considerable flexibility in managing their finances, with the ability to repay the home loan ahead of schedule without incurring early termination fees. This flexibility is particularly beneficial, allowing them to adjust their financial planning as needed without additional financial penalties.