All Topics / Finance / short term finance needed

Viewing 5 posts - 1 through 5 (of 5 total)
  • Profile photo of son of a beachson of a beach
    Member
    @son-of-a-beach
    Join Date: 2006
    Post Count: 8

    I need help, can some one direct me as to where i could get some finance for three months asap for the lowest rate? I am doing a small development and need the finance to get the house to lock up stage at which i will then refinance. Thanks.

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Is it secured funds you are seeking and how much. ?

    What is the current value of the security being offered ?

    Do you have an exit plan to refinance in 3 months time?

    Richard Taylor
    Residential & Commercial Finance Broker
    Licensed Financial Planner
    Ph: 07 3720 1888
    [email protected]

    Richard Taylor | Australia's leading private lender

    Profile photo of son of a beachson of a beach
    Member
    @son-of-a-beach
    Join Date: 2006
    Post Count: 8

    G’day Qlds007

    Would unsecured be quicker? If needed secured it could be.

    Current value 430k owe 340k on it.

    will refinance in 4-6 weeks, as i want to get it to lock up.

    Profile photo of son of a beachson of a beach
    Member
    @son-of-a-beach
    Join Date: 2006
    Post Count: 8

    and now for part B
    49k is what i am after for 3-4months

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    S on a B

    I doubt you will get anyone to offer unsecured finance on a development deal so it would need to be secured.

    On the basis you can show serviceability you are better of to try and find a private short term investor to look at the application.

    One thing is you are certainly going to pay for it in the way of both interest rate and fees and they will want to register a caveat against the property.

    High LVR so they will probably want to direct the funds.

    Good luck

    Richard Taylor
    Residential & Commercial Finance Broker
    Licensed Financial Planner
    Ph: 07 3720 1888
    [email protected]

    Richard Taylor | Australia's leading private lender

Viewing 5 posts - 1 through 5 (of 5 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.