Project Type: Staged Residential Townhouse Development
Loan Amount: $16,000,000
Why Right Angle Group?
An existing client of Right Angle Group who asked us to tender the funding of a large residential townhouse development.
What our client required:
- Funding for 115 townhouses in 2 stages with formal approval for the take out finance on 31 townhouses being retained as long term rentals
- Lowest level of complying presales
What we achieved for our client:
- Formal approval for the take out of 31 townhouses on term debt on completion of the project at a delivery rate of 4.25% with a loan value ratio of 65% (In one line)
- Use of a $3,5000,000 uplift in value from purchase price based on the DA approved value
- 30% debt cover in complying presales
- Formal approval within 3 weeks of loan lodgement
Your Right Angle