Our client purchased a luxurious property in a high-density area, which usually means a lower LVR (usually 70% LVR or less depending on location and security). In addition, the client had a restructure of his employment and was only one day into his new role as an executive, through which he had acquired a percentage shareholding of his company.
Typically, lenders would deem someone in this situation as self-employed, as they have a shareholding of the company, thus requiring company financials and returns, as well as personal returns. Further impacting the borrower, funders require them to be in a specific role for at least 6 months, sometimes even more. Due to these requirements our client was in serious risk of losing the property, as he would have been unable to obtain finance, only 2 weeks out from settlement.
Through GCC Home Loans’ experience, network and expertise and after some intensive negotiation and mitigation, we were able to facilitate the finance via one of more than 300 lenders on our panel and settle on the property in time – making for one very happy client.
Interest rate: 3.97%