Development Finance Southport
Finance Advocates was approached by one of its Melbourne based developers who had purchased a DA approved development site in Southport Queensland.
The challenge however was that he was dealing with another broker but he could not deliver and with only 10 days to go until settlement the client was getting a little anxious as the vendor would not provide an extension and Queensland settlements do not allow for an additional 14 days or recession notices unlike Victoria. With its vast array of contacts and funding options Finance Advocates quickly went to work and procured a genuine Letter of Offer within one business day at 70% LVR which was promptly accepted and valuation commissioned which was also confirmed as being able to be completed within 7 days.
End result was the client was signing loan documents within the 7 days comfortably making the original settlement date. The developer will now rehash the existing permit to an 80 level apartment building which we look forward to assisting with the construction finance next year.
So if you’re a developer that needs land bank or superior GRV finance call Renato at Finance Advocates on 1300 780 196 or 0438 600 838.
