Leading Financial Solutions

SETTLED!

Lender: Major investment bank
Loan value: $3,200,000
LVR: 69.5%

We are delighted to assist our clients with the purchase of a prestige family home at Double Bay. Clients are in a very strong financial position however had some difficulty in obtaining the appropriate level of funding due to the complex nature of being self-employed.

Some of the challenges we faced and mitigated in this scenario include:

• Financial reports showed an inconsistent position due to acquisition of new assets and changes in business strategy in the last year
• Shared loans with multiple family members
• Ongoing sale of an existing property – debt still had to be included
• Tight deadline to settlement as previously another lender was involved
• Flood risk in the property valuation

Due to the complexities involved, the file had to be workshopped back and forth with the bank’s credit team – however a bit of urgency on our side combined with a very patient and co-operative client, we were able to secure a formal approval for them within 30 days and meet the settlement deadline.

Are you self-employed and having trouble securing finance from a bank? Contact us today for a fresh perspective on how things can be done.