Terms
Loan Sum $1,208,000.00
Rate to Borrower 10.95% (no line fees)
Min Term 2 months
Max Term 6 months
Interest Flexibility Interest prepaid for 3 months but with 1 month reimbursable if settled beforehand and with interest thereafter compounded monthly until sale of land lots
The Problem
The applicant held a bridging facility with Semper over a residential property astride two titles. The loan was provided as a bridge facility against the as-is value of the asset and the client sought to demolish the existing dwelling and allow the sale of two development lots.
The Solution
Refinance to a subdivision-type facility with the LVR related to an as-if-complete value and with consideration for costs to complete and the end value of individual lots.
Commercial lending
Semper is a leading non-bank lender specialising in property-secured loans to businesses in any industry with loan sums from $250K – $30M 1st and 2nd mortgages Australia-wide up to a maximum LVR of 80%.
Semper offers a wide range of flexible products tailored specifically for you. We specialise in all your short-term and bridging finance needs.
We don’t do loans the banks won’t, but assist when the banks can’t, usually due to timing or circumstance.
COMMON LOAN USES
Rapid property acquisition pending alternate finance;
Managing cash-flow challenges, such as:
- Tax liabilities and ATO debt
- Replacement finance or deleverage from an existing lender
- Pre-insolvency issues/ release from administration and turnaround
- Creditor payments
- Release of equity
- Debt refinancing
- Seasonal trends
- Business emergencies
- Bridging the gap between sale and purchase (residential or commercial)
- Rapid drawdown and equity release
- Buying a business
- Meeting the capital needs of a growing business
