Last-Minute Rescue Loan Secured in 24 Hours for DA-Approved Development Site
Loan Amount: Full purchase price advanced, $4 million
Security: First mortgage over DA-approved site, second mortgage over two additional properties
Location: NSW (exact suburb not disclosed)
Loan Type: Bridging/urgent acquisition finance
Problem: Lender delay 24 hours before settlement on high-value site
Just one day before settlement on a development site with an approved DA, our borrower received an unwelcome surprise: their lender, expected to fund the deal, confirmed they wouldn’t be ready in time. The delay threatened not only the settlement but the opportunity itself — the property had appreciated significantly in value, and missing the deadline could have meant a major financial setback.
At 4:00pm on Thursday, we were contacted with a clear directive: settlement needed to occur by 4:00pm the next day. There was no time for traditional processing. Our team immediately assessed the deal.
By leveraging a first mortgage over the development site and securing additional comfort through a second mortgage over two other properties owned by the group, we were able to advance the full loan amount and meet the settlement deadline within just 24 hours.
Why do time-critical property acquisitions fall over at the last moment, and how can you avoid being exposed?
At Secured Lending, we bring deep property experience to the table, including an understanding of DA approvals, construction timelines, and development funding nuances. With in-house expertise and the ability to assess and settle rapidly, we offer real solutions when time is against you.
If you need an urgent business loan for a development site or property purchase, complete our Application Form or contact us at info@securedlending.com.au. We’re ready when your lender isn’t.
