• March


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Successfully helped our customer to NOT lose their deposit

Successfully helped our customer to NOT lose their deposit

construction loan depositRecently a customer needed our urgent assistance to avoid losing their deposit, after being declined by all the major banks for finance on land they had already signed a legally binding contact for.

The customer approached us just days before settlement was due, as they had been desperately applying at bank after bank before luckily being referred to Bee Finance Savvy.

They had signed their land contract and paid a 10% deposit many months before seeking our assistance, as they had assumed that they would be approved when the time came.

At risk of losing tens of thousands of dollars as well as the increased value of their land, they had no idea that many banks would insist they prove that they could afford to construct on the property at that point in time, despite their initial desire being to simply settle on the land and borrow 95% to do so.

As they had exhausted so many options and damaged their credit file in the process, we successfully found alternative lenders to get them across the line.

Settlement occurred a week later, and our clients happily made a handsome profit due to the increased value of the land since the time they initially signed the contract.

If you would like to know how we can assist you, contact Bee Finance Savvy on 1300 140 554 or enquiries@beefinancesavvy.com.au

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