1st Mortgage to Purchase a Property in Melbourne $1,200,000.00
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| Prime Finance’s Weekly Scenario |
Scenario: Prime was approached by a broker who had a client needing short term funding of $1,200,000.00 for 60 days to purchase a property in the Melbourne metro area. Bank couldn’t settle in time on purchase. Solution: Prime Finance did this as a 1st mortgage and settled in 3 business days. The LVR was around 75%. Valuation not required, used contract of sale. |
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