Case
Studies
9. Construction Finance for Builder
Licensed Builder who had laid the foundation and the first storey framework of a Residential Investment Property on unencumbered land became ill and was unable to work or continue with construction of the property.
Without income or the ability to continue with the construction the Borrower was looking at having to sell the land in its current state rather than realising the sale of a completed home which would have put the financing of future builds in jeopardy.
With Eastwood Securities providing a prepaid interest only Loan against the value of the land the Borrower was able to subcontract the building work to his sons.
The house was completed and sold at a good profit thus providing welcome funds for the Borrower to assist with getting back on track.