Summary:
- Loan Overview: At Secured Lending, we provided $3.685 million in funding secured against a property in St Ives, NSW.
- Problem: The borrower had a Receiver appointed, with interest and associated costs rapidly accumulating, creating urgent pressure to resolve the situation.
- Borrower Profile: A distressed borrower facing mounting costs and loss of control over the asset sale process due to the Receiver’s involvement.
- Solution: We acted quickly to fund the payout of the existing mortgagee, removing the Receiver and giving the borrower time and autonomy to manage the sale of the property.
- Outcome: The borrower regained control of the sales process, avoided escalating costs, and was able to move forward with the asset sale on their terms.
Has a Receiver been appointed? Can your current lender provide you with speedy solutions?
Recently we came across a borrower who had a Receiver appointed, with interest and costs being charged at an alarming rate. With no time to waste, the borrower needed to resolve the issue with speed and certainty. Secured Lending were able to act fast and provide urgent funding of $3.685M to payout the existing mortgagee and give some breathing space to allow the borrower to sell their St Ives property under their own steam.
Here at Secured Lending, we pride ourselves on our ability to assess a situation from all angles and provide our customers with fast and comprehensive solutions.
Check out how Secured Lending deals when Receivers or Adminstrators have been appointed, or alternatively, contact us at 1300 795 175 or email info@securedlending.com.au
