Residential Subdivision

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%.