$2.3m Bridge | Expiring Facility Refinance | No Title or CCC

A developer faced an expiring loan facility with construction complete, but titles and Code Compliance Certificates (CCC) were still working through council.

 

We stepped in with a tailored $2.2M bridge facility to take out the existing lender and provide an orderly runway to sign-off and sell-down.

 

Loan Summary

Amount: $2.3m (including capitalised interest and fees)

Rate: 7.88% p.a.

Term: 12 months (fully capitalised)

LVR: 67%

Security: Residential development with all lots still on one title

 

The Challenge

The incumbent lender’s loan was reaching its maturity date, but the developer was caught in council processing delays awaiting individual titles and CCC. Traditional lenders would not look at refinancing without titles already issued.

 

The Cressida Solution

Take-Out Ahead of Sign-Off: Looked past the lack of CCC and title to pay out the expiring loan and give the developer a full 12-month runway.

In-House Assessment: Valuation of the development done entirely in-house without delays or additional costs.

Full Capitalisation: Interest and fees fully capitalised to eliminate monthly debt-servicing strain.

Orderly Sell-Down: Zero early repayment fees from sales proceeds, letting the borrower sell-down at their own pace.

 

The Result

A $2.3m facility that defused an urgent expiry giving the client breathing room to secure final compliance and execute an orderly sell-down without lender pressure.

 

At Cressida, we deliver practical funding when traditional lenders can’t.

 

Have a client facing a loan expiry? Let’s talk.