Distressed Construction Loans
Running out of development capital just as the finish line approaches is extremely frustrating.
With major banks tightening their LVR percentages in today’s economic climate, it’s even harder to access the finance you need when you need it.
NWC Finance can arrange fast, hassle-free drawn down loans. These loans differentiate amongst other lenders as we provide the following tailor-made features to assist.
- Only pay interest on the amount you draw down not the total value of the loan
- Settle on a second mortgage (first mortgage not a requirement)
- Use commercial or residential property as security
- Up to 70% LVR on a progressive draw down loan
- Interest rates from just 1% per month on the draw down amount only
- Settlement often within 24-48 hours (If valuer and QS on Panel)
- Loan amounts from $50K up to $50 million
- Australia wide
RECENT SCENARIO
01.
$7m Short Term Construction Funding
Product Guide
1st Mortgages
- > Loans from $50k to $50m
- > Up to 70% LVR Maximum
- > Interest from 1% per Month
2nd Mortgages
- > Loans from $50k to $50m
- > Up to 70% LVR Maximum
- > Interest from 1% per Month
Cash Advance
- > Loans from $50k to $50m
- > Up to 60% LVR on wholesale value
- > Interest from 1% per Month
Plant & Equipment
- > Loans from $50k to $50m
- > Up to 70% LVR Maximum
- > Interest from 1% per Month
Minimum Term of 30 days – Maximum Term of 6 Months with roll-over – Interest can be capitalised within LVR guidelines – All Australian locations considered for 1st and 2nd mortgages and Plant and Equipment security
Let’s talk
To learn more about our immediate finance and short term funding solutions, please contact us on 02 9223 7181 or email us at [email protected].