Another Successfully Repaid Investment: Yeppoon, QLD 4703

Borrower Insight

This loan was introduced by a mortgage broker that had worked with Funding in the past. The borrower required funds to assist with the purchase of the security property, which in this case was a vacant block of land where the borrower planned to eventually build a residential home.

The borrower’s repayment strategy was to refinance out to a mainstream lender on a longer-term facility to allow for the house to be built. The borrower was able to secure refinance, and the loan to Funding was repaid on time.

Loan Amount	$96,000
Target Return	7.5%pa*net
Term (subject to early or late repayment)	6 months
LVR	41.47%
Property Value	$230,000
Date Commenced	13/01/2020
Date Repaid	15/07/2020
Total Unique Investors in Loan	4
Largest Single Investment	$78,490
Smallest Investment	$1,000

Investor Returns: The target rate of 7.5%pa*net was achieved and all investors were paid their full interest and principal for the investment term.

Property Description: The security property is a 4890sqm vacant block of residential land.

Location: The security property is located in Yeppoon, a coastal town 25 minutes from Rockhampton. Yeppoon is renowned for its beaches, tropical climate and bay islands including Great Keppel Island – a popular tourist hotspot.

Loan exit strategy: Refinance.

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