Bridging Loan $250,000.00 to Complete Renovations
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| Prime Finance’s Weekly Scenario |
Scenario:
Prime Finance was approached by a broker who had a client needing a 60 day residential bridging loan of $250,000.00 to complete renovations on family home.
Solution:
Prime Finance did this as a caveat and settled within 5 business days. The LVR was around 70%, valuation was required.
Visit our website or send scenarios to [email protected] and find out how we can help your clients.
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Merrick Malouf is the principal and founder of Prime Finance.
Merrick has more than 25 years experience in property and finance, particularly with development projects. This led to his understanding of the property cycle and access to investment funds led to the development of a compelling strategic plan to create a specialised short term lender to meet this need.
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Brooke Kelleher is the National Credit Manager of Prime Finance.
Brooke has been in financial services for over 6 years, encompassing a broad range of services including broking, investment funds, consumer finance and accountancy.
Her previous background was as an executive assistant dealing with everyday administration.
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