A commercial property purchase with a few twists!
The client’s financials showed they could not afford the purchase, however, the Financials were dated and the client’s business was turning around quickly.
What first appeared as a relatively simple property purchase presented many challenges relating to our client’s serviceability position and their recent business trading history.
We were able to research and present Lender with a clear strategy for debt reduction in the short term, coupled with a very strong security position.
We faced many challenges throughout the approval, documentation and settlement process but we successfully paired the client with a flexible Lender who was happy to lend to the client, and we ensured that the client did not relinquish their $200k deposit.