- jempireParticipant@jempireJoin Date: 2001Post Count: 19
I am currently in the final stages of sub-dividing a vacant parcel of land in Brisbane. I have contacts issued on both proposed lots ($405k ea lot) with settlement due to occur on 13th June 2017. However I have a shortfall of $35k to complete the sub-division.
I have spoken to a few private lenders regarding bridging finance and the LVR cut off for most is 70%. My deal would have an LVR of 73.5%
Would anyone be interested in providing the required funds ($35k) to complete the subdivision with a second mortgage as security on the property and 8% interest (per month) payable at settlement?Richard TaylorParticipant@qlds007Join Date: 2003Post Count: 12,024
Jempire, We go to 80% lvr on 2nd RM especially if you have sale contracts in place.
Would need more information but feel free to email me and we can certainly look at the deal as we are based in Brisbane.
Yours in Finance