Off-the-Plan Valuation Came In Short? Urgent Short Term Finance to Settle

Yes. We lend on the finished apartment as it stands, valued by our own team, and a receiver as the seller does not change our 70% limit. Ask your solicitor to confirm the contract is still on its original terms and how many days the notice gives your company to settle. Check the apartment at the pre-settlement inspection as usual, and ask your solicitor how any defects are handled now that a receiver is selling. Send us the contract and the notice today, so the valuation is booked well inside the settlement period.

Up to $1.4 million. With $100,000 paid, $1.9 million is due at completion, and we lend up to 70% of the lower of our valuation and the $2 million price. The remaining $500,000, plus any stamp duty due, comes from the company's own funds or from a loan over another property the company or a director owns.

Yes, where the deposit is $250,000 or more, which is a 10% deposit on a price of $2.5 million or more. We lend it to the company against a property the company or a director already owns, and it is usually repaid at completion, when the purchase is refinanced, or from the sale of another property. Ask your solicitor how long the developer has given you to replace the bond.

Yes. Call us once the developer tells you registration is close, with the contract and any bank valuation. We can prepare an indicative offer and book our valuation, so you are ready when the notice arrives. Check the exact notice period in your contract with your solicitor.

• →Private lender for off-the-plan settlement finance

Yes, where the numbers work across all three. Each apartment is valued separately, and the total loan stays within 70% of the lower of value and price across the three. Send us all three contracts together, so the loan is ready for whichever notice arrives first.

Using our loan makes no difference to that question. Our loan does not change the company's contract with the developer, so settling with us rather than a bank does not affect a claim the company has under it. Whether settling affects a defect claim depends on the contract and your state's rules, so ask your solicitor how to raise the defects before settlement. Our valuer will take any defects into account in the value.

Yes. We value the apartment as it was built, not as it was shown on the plans. If the change lowers the value, our 70% limit applies to the lower figure. Your solicitor can check whether the contract allowed the change and whether the company has a claim against the developer.

Yes. A sale is a normal way to repay us. We settle the purchase with a loan over the completed property, and the sale proceeds repay us. Our terms run from 1 to 24 months, so we set the term with time for the apartment to be marketed and the sale to settle.

No. We lend on the property's value and on how our loan will be repaid, so we do not apply a bank's servicing test to the rent. We do need a clear plan to repay us, usually a bank refinance once the rent is established, or a sale.

It can, once the first unit has settled. After it has been valued, any equity above the borrowing on it can be offered as additional security for the second settlement. The total borrowing across both units must stay within 70% of their combined value, and we will ask how both loans will be repaid.

We need to learn your scenario further. Our valuer values your finished unit on its own title and considers access and the state of the estate around it, and we lend up to 70% of the lower of that value and the price. The unit needs its own registered title, so our loan settles once the plan is registered and the developer gives notice.

• →Urgent industrial property purchase loans

The difference needs to come from your own funds or from extra security. We lend up to 70% of the lower of the value and the price, and equity in another property you own can make up the rest. Your solicitor can also tell you whether the contract gives you any other options.

You can ask, but the developer does not have to agree, and some charge interest for a late settlement. Apply to us while you wait for an answer, so you can settle on whichever date applies.

Yes, where there is a realistic resale market. Some banks limit lending in large or high-density buildings. We value each apartment individually and base the loan on that value.

No. Every loan we write is for a business purpose. A bank or mortgage broker can help with a home you plan to live in.

Two weeks is usually enough, and same-day funding is possible depending on your scenario. Send the developer's notice and any bank valuation with your first call, so our valuer can inspect the completed property early.

• →$271,000 approved within 4 hours for a next-day settlement
• →$3.2 million funded in 24 hours
• →$1.88 million bridging loan settled in 48 hours

Yes, and it is a common plan. A bank may lend more once a lease is signed and the rent is established. Our terms run up to 24 months, which leaves time to find a tenant.

Yes. We lend to real estate and property businesses for working capital, such as costs between settlements or funds for the next project, as well as for off-the-plan settlements.

• →Real estate lending
• →Working capital loans

Yes. We fund off-the-plan settlements on commercial and industrial strata units as well as apartments, based on the value of the completed unit.