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.
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