19. Luxury Home Completion

Architect/Owner Builder was building a new home in an exclusive metropolitan suburb.

He encountered cost overruns and found himself unable to fund the completion of his luxury home.

His bank, who held the mortgage over his property, refused to provide the required monies and as an Owner/Builder, he was unable to secure alternate funding.

On application to Eastwood Securities Mortgage Fund, we were able to discharge his various borrowings and provide his full funding requirements of $555,000 (40% LVR) on the security of a first mortgage over his home. The building is now complete, and he has been successful in securing a bank Home Loan.

Eastwood Securities Mortgage Fund is a specialist in bridging finance facilities.

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