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Check out these actual deals that exemplify our professional prowess and commitment to you.
Deal Type: Refinance & Equity Loan
Property: 4 bedroom condo in River Valley
Challenge : Pending Litigation Cases / Court Order
Customer was stuck in a tight fix when he had been ordered by the Court to pay for the legal cost and damages amouting to $1.5M due to a defeat in civil litigation proceedings between him and his former business associates. Despite only having an outstanding mortgage loan of $500k on his $4M condo, customer was unable to raise any funds from it as the Court had issued an injunction order on the property prohibiting the refinancing &/or sale of the property until the legal costs and damages have all been fully settled.
Solution: Managed to arrange for a financial institution to grant a $2.4M term loan facility to redeem his existing $500k mortgage loan, enough to settle the $1.5M legal cost with remaining $400k disbursed for his personal use.
Deal Type: Business Term Loan
Property: 4-bedroom condo in Nassim
Loan Amount: $5M
Challenge : Unable to provide any collateral under his own name
Customer was seeking a loan of $5M for his logistics business but does not own any property under his name. His parents were willing to pledge theirfully paid 4-bedroom condo worth $10M in Nassim vicinity for their
Solution : Managed to arrange a $5M business term loan (secured against his parent’s condo in Nassim) and to disburse the funds to client’s company within 3 weeks from date of application.
Deal Type : Refinance + Equity Loan
Location : Bungalow in Katong
Loan Amount : $5.5M
Challenge: Poor Credit Bureau (CBS) Grading
Customer owns a detached house in Katong worth about $8M with current bank loans of $2.5M but is unable to get any fresh financing from banks due to his existing bad credit bureau rating.
Solution: Secured a $5.5M term loan facility @ 70% LTV from a financial institution by refinancing his existing $2.5M mortgage loans and a fresh $3M equity term loan for his personal investments through a debt restructuring exercise and comprehensive debt repayment program.
Deal Type: Equity Loan
Location: 3-bedroom condominium in Tanjong Rhu
Loan Amount : $1.5M
Challenge: Short Loan Tenure (due to old age)
Elderly customer (age 68) has a fully paid for a condominium worth $3.5M and is seeking an urgent loan of $1.5M to fund his shipping business. Multiple visits to banks were futile as banks were not willing to consider his loan application in view of his age.
Solution: Secured an equity loan with a financial institution at a mere 43% LTV with a 2-year interest servicing repayment plan. Funds were quickly disbursed to client within 3 weeks from date of loan application, in time to help him with his business needs.
Deal Type: Refnance & Equity Loan
Property: Office unit along Robinson Road
Loan Amount: $2M
Challenge: Foreigner with no reported income in Singapore
Customer, an Indonesian with no reported income in Singapore, had been actively trying to sell her commercial property with no success in the current lackluster market. She was urgently seeking a personal loan of $1.2m for her business in Medan and encountered many difficulties in
banks to finance her loan due to her non-residency status and lack of income proof.
Solution: Managed to arrange for a financial institution to grant her a $1.8m term loan facility that helped her to redeem the existing $600k bank loan with remaining $1.2M to be disbursed to client for her personal use.
Deal Type: Mezzanine Financing
Location: Semi-Detached House in Orchard
Challenge: 6-month short term loan (to be disbursed on urgent basis)
Client was looking for an urgent short term loan of $1M to pay his suppliers but did not want to refinancing his house as he was only looking at taking on a term loan of no longer than 6 months. He currently owns a semi-detached bungalow worth about $7.5M with an outstanding bank loan of $3.3M and CPF usage of $800k.
Solution: Managed to get a secondary lender to grant and disburse a $1M business term loan to his company within 2 weeks without having to go through the hassle of refinancing his house.