Project Overview:

• Property Type: Luxury house build (approx 50% compelete)

• Location: Sorrento, Victoria

• Property End Value: $4 million

Client Challenge:

The client had self-funded the project up to the current stage but required additional financing to ensure timely completion. Traditional bank financing was not a viable option at this stage of construction.

CPC’s Solution:

• Lender Introduction: CPC leveraged its network to introduce a non-bank lender willing to fund the project on a cost-to-complete basis, aligned with the building contract payments made to date.

• Expedited Approval: The lender conducted a site visit and approved the loan within 48 hours, eliminating the need for a formal valuation.

Loan Structure:

• Term: 12 months

• Interest: 11%, with 6 months’ interest prepaid to provide a buffer for refinancing upon project completion

• Disbursement: Full loan proceeds were disbursed on day one, granting the borrower control over funds to manage builder payments effectively.

Outcome:

This tailored financing solution ensured the project’s uninterrupted progress, allowing the borrower to maintain cash flow flexibility and focus on delivering a high-quality luxury residence.

Loan Exit Strategy:

Once completed CPC will assit the borrower in refinacing to a major bank on a long term basis at market leading rates.