Another Successfully Repaid Investment: Yeppoon, QLD 4703
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.
|Term (subject to early or late repayment)||6 months|
|Total Unique Investors in Loan||4|
|Largest Single Investment||$78,490|
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.
Have you seen the latest investments available on our platform?
FYE 2021 Q1 Investor Update
Funding’s Q1 update for the 2021 financial year (FY) includes an information overview of first mortgage investments made available during the quarter.
Correctly Defining the Registered Owners on Title in Private Lending
This video explains why it is essential for brokers and borrowers to correctly outline all of the registered owners on the title when applying for a loan. In addition to ensuring all tenants are listed, the borrowers must also identify who is benefiting from the mortgage transaction (transfer of benefit).
Another Successfully Repaid Investment: Beaumaris, Victoria, 3193
Borrower Insight The loan was introduced via a mortgage broker. The borrower needed to urgently refinance an existing facility that was reaching maturity, and their primary exit strategy was to…