Short Term Funding for Construction

Scenario:

Prime Finance was approached by a broker who had a builder needing short term funding of $1,750,000.00 for 4 months on a house and land package in NSW.

Solution:

Prime Finance did this as a 1st mortgage and settled within 4 business days. The construction of the dwelling will be done in several drawdowns. The LVR was around 65%. Valuation was required.