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 to this, the client had a restructure of his employment and was only one day into his new role as an executive and part of this new role had acquired a certain shareholding of his company.
Typically, funders would deem this as Self-Employed as the customer has a certain shareholding of the company and would require company financials and returns as well as personal returns. Furthermore, funders require customers to be in a specific role for at least 6 month or more. Due to these requirements the customer was in risk of losing the property as he would have been unable to obtain finance 2 weeks out of settlement.
Through 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.
Interest rate: 3.97%