As your apartment project moves towards completion with stock left to sell numerous lenders are now mandated to offer developers cost-effective residual stock funding. With the widely publicised decline in sales and completion of sales contracts sometimes falling over developers will often require short term funding.
This funding is usually required to repay construction debt and allow sufficient time to achieve sales of completed unsold stock. Residual stock loans can allow developers to move onto their next project without compromising sales prices.
Residual stock lending key information
- First mortgage funding
- Typically $2m to $30m loan value
- Gearing to a maximum of 65% LVR against “in one line” valuation
- Establishment Fees 1.5%
- Rates from 7-8.99%
- Rapid decision and loan settlement
For more information contact CPC today email firstname.lastname@example.org or phone +61 434 932 634