Finance Type : Commercial Mortgage
Sector : Residential Investment
Mortgage of a recently converted single dwelling into a Multi Unit Freehold Block (4 units) where one of the units has already been sold on a single title. The client advised that two of the units were below the industry standard of 30sqm and we were able to source a funder who could assist during the COVID-19 lockdown. There were issues with the clients taking mortgage payment holidays on other properties and a BBLS within their portfolio which we were able to overcome.
The client was able to use these funds to replenish the cash used to complete the renovation as well as provide additional funds for further investment purposes.