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  • Profile photo of USTYCOONS2003USTYCOONS2003
    Member
    @ustycoons2003
    Join Date: 2003
    Post Count: 3
    February 5, 2004 - 7:03 am

    Hi All,
    This forum has inspired me. Although I never posted before but I have been reading through this whenever I am lost or undecisive.

    I never thought I would reach such a stage but I am looking at closing a deal and am $40,000 short. Does anyone know any private lenders, people who have money/equity, that they can lend all or part of it to me at market rate interest for upto 6 months?
    If anyone is interested but has other conditions for re-payment/interest, please bring it forward.

    I know I will be able to repay the money but can’t disturb my CRA just yet.
    Any help/guidance on alternative means will be much appreciated.

    Thanks heaps anyways!

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    February 5, 2004 - 7:52 am

    There are commercial second mortgage products available, but the interest rates are around 20% with a mximum LVR of 80%. It may be cheaper to find individuals to help you out.

    Terryw
    Discover Home Loans
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

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