Selling your property but need the funds NOW?
Something most vendors and agents don’t know exists is our Finance Advances on Property Sales.
We all know that vendors under financial pressure need funds from the sale of their property straight away. However, for you to achieve the best price, a buyer may want a 90 or 120 day settlement. What do you do?
This is where our funding comes to the rescue!
As long as there is a business purpose for the funds, we can advance the remaining equity in the home (up to 75% LVR) within 24 hours.
We can even lend to higher amounts if the property is unconditionally sold.
Our advance is secured behind the existing first mortgage (if there is one), and we then get repaid when the property settles, just as the 1st mortgagee does.
Best of all, the interest is capitalised so there are NO REPAYMENTS with this type of loan. It is repaid when the property settles. PLUS, as it is a business loan facility, all costs are tax deductible too.