22
May
May 22, 2014
in Scenarios
Client required an urgent refinance on their extremely specialised commercial property and where having difficulty finding a lender who was willing to lend. The first mortgagee was getting impatient with the owner and decided to put the property on the market at a reduced price. NWC Finance lent the client the money (at an LVR% of 70%) to payout the first mortgagee and bought them time to sell the property at market value. Loan was settled within 3 days.
Exit: Sale of the property.