Urgent Short Term Finance for Serviced Apartments and Student Accommodation

Yes, where the bank's payout figure fits within 70% of our valuation of the building. A receiver being in place does not stop us lending, and our loan repays the bank at settlement. Send us the written payout figure, the signed room agreements for the year and your plan to repay us, such as a bank refinance or a sale once the year's income is shown. The room agreements show what the building will earn while that plan runs.

• →Refinancing a lender that has appointed a receiver

Up to $6.3 million, if our valuation supports the $9 million price. We lend up to 70% of the lower of the assessed value and the price. Without occupancy history, our valuer relies more on the building itself and on comparable sales, which can lower the value. Ask the vendor for at least the current room bookings, because any income evidence helps the valuation.

• →Student accommodation finance from a private lender

About $560,000. The amount is set by the property, and 70% of the $800,000 unit is $560,000. To borrow more for the rights, add another property you own, such as your home, within 70% across all the properties. Send the contract for the unit and the rights together, so we can see the full settlement figure.

It counts towards the repayment plan. The loan is secured by the building property, and the university agreement shows the income a bank or specialist lender will refinance on once the beds are let. Send the agreement with your enquiry, because the start date and the number of beds help us set the loan term.

It can. We lend on the property as it stands, valued in its current use, and set the term to run past the council's decision. The approval does not add to our valuation until it is granted. Once the conversion is approved and the rooms are let, a bank refinance repays us.

Yes. 70% of $5.4 million is $3.78 million, and with $2 million owing there is room for about $1.78 million, plus 70% of the unit you are buying. Where your bank holds first mortgages over the 12 units, we would take second mortgages behind it, from 11.95% p.a. Send a list of the units, their values and the balance owing on each.

• →Second mortgage finance

No. We take the order into account in the valuation and in how much we lend. The loan can include the cost of the works as a lump sum at settlement, within 70% of the property value. Send the council order and the contractor's quote with your enquiry, so the amount covers both the purchase and the works.

It can. We value the building with the lease in place and look at what we can see: the lease, the rent paid to date and the operator's record in other buildings. The operator's financial position affects the value of the lease, so anything you can obtain helps. Send the lease and a rent ledger with your enquiry.

Yes. A tax debt on its own is not a reason we decline. The loan is secured by the building property, the funds are paid to the business, and the business pays the ATO. On a building worth $4 million with $1.5 million owing, 70% is $2.8 million, which leaves room for the $350,000. Send the ATO statement of account with your enquiry.

• →Urgent ATO debt loans

Yes. Each studio is a separate title, and all 15 can secure one loan. We lend up to 70% of the lower of our assessed value and the price you pay, so on a $3 million line price the loan is up to $2.1 million. Send the contract and the strata plan, and say whether you plan to hold the studios or sell some to repay us.

• →Urgent loans for residual stock

We need to learn your scenario further. We value the building on its land and improvements, and on its occupancy history under the licence agreements. Send two years of room income, a copy of the standard agreement and any approvals for the building's use, and we will tell you what the property supports.

No. Management rights are a business, not real property. The manager's own lot can be security, and so can another property you own.

Yes, where there is a realistic market for the units. We value each unit on its merits, and unit size affects the value rather than ruling the loan out.

Yes. The loan can include the refurbishment budget at settlement, as long as the total stays within 70% of the property value. Tell us when the semester starts, and we will work to it.

Yes. If a construction loan is due before the building is fully occupied, we can repay it and give you time to lease the rooms. A bank or specialist lender can then refinance us on the established income.

In NSW, general and assisted boarding houses must be registered with NSW Fair Trading. If you are buying a hostel or share accommodation, check whether it is registered before settlement.

Yes. A hostel is valued on its land and building and its trading figures. Registration and fire safety compliance can affect the value, so send us any recent reports.

Funding can happen on the same day where your scenario allows. Working back from the intake date, allow time for our valuer's inspection and any refurbishment.

• →$3.2 million funded within 24 hours
• →$1.2 million second mortgage funded within 24 hours
• →$1.88 million settled in 48 hours when a bank was delayed

Yes. We lend for working capital to accommodation, hospitality and real estate businesses, including costs between intakes and seasons.

• →Real estate lending
• →Working capital loans