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Loan Purpose
Facility Amount
$5.7MM
LVR
75%
Term
Security
LTC
Pre-sales
Exit Strategy
The Deal
The Borrower had exchanged on the purchase after verbal assurances from CBA that they would provide funding. After 3 months of poor service, the bank offered an LVR of 60%, the borrower was unable to provide the additional equity required. Borrower was in danger of losing a $750k deposit and under pressure to complete.
Balmain provided a loan approval in approx. 10 days and settled inside 21 days.
Phil Jenkins
Director
