Construction Lenders and the Challenges

Mark Hutchins

Mark Hutchins

Director - Secured Lending

As the construction industry is weathering the perfect storm, can you rely on your current Construction lenders to be there to finish off the project?

Over the last month, we have seen a significant uptick in the amount of Construction Lenders pulling out of part complete developments leaving borrowers in a state of uncertainty and without the necessary funds needed to complete their projects.

We were approached by a client in that exact predicament. The development was at Frame stage and the existing lenders were not willing to advance any further funds to complete the project. Secured Lending were able to provide a $900k facility which allowed for the refinance of the existing mortgage, payment to the builder for outstanding costs and a drawdown facility for completion of works.

Our team understand the short-term pinch being felt by the construction industry and are continuing to provide solutions for part complete developments to our customers.

Check out our Short term Finance product if you require any more information, or alternatively, contact us at 1300 795 175 or email info@securedlending.com.au

Construction Lenders

Secured Lending

FAST FUNDING SOLUTIONS

Secured Lending focuses on non-conforming, short term funding solutions with incredibly quick turnaround times. So why Secured Lending?
  • We have our own internal property valuation team.
  • We can settle caveats, 1st and 2nd mortgage loans within 24 hours up to $45m.
  • We pride ourselves on being transparent and honest in our approach, always aiming to have an initial assessment back to you in a few hour

Our rates start at 9.95% p.a. with loan terms from 1 – 24 months.

 If you have a scenario to discuss, please call us on 1300 795 175.
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