Business Loan on a House and Land Package in Newcastle

Scenario:

Prime Finance was approached by a broker who had a builder as a client needing short term funding of $450,000.00 for 6 months on a house and land package in Newcastle NSW.

Solution:

Prime Finance did this as a 1st mortgage and settled on the land within 4 business days. The construction of the dwelling will be done with several drawdowns. The LVR was around 65%, a valuation was not required.