Refinancing a Construction Facility Prior to Final Inspection

Cressida recently settled a $5.2 million residual stock loan secured against two high-end residential properties at practical completion.

The facility refinanced an expiring construction loan from another lender, where timing and flexibility were key priorities for the borrower. Due to the maturity of the existing facility, the borrower required refinancing prior to fully passing final inspection.

To meet these requirements, Cressida provided an immediate refinance facility, together with a future equity release component upon the issuance of the Code Compliance Certificate (CCC) and Section 224C certificate.

Loan Summary

• Security: 2 high-end residential properties
• Loan Amount: $5.2 million
• Interest Rate: 7.65%
• Term: 10 months
• LVR: 68%
• Early Repayment Fee: Nil

If you’re seeking flexible property finance outside the traditional bank model, we’d love to hear from you.