More than just home loans
Our clients own and operate a successful crash repair business. Over the years they've invested their profits into building a small but high quality real estate portfolio. They own their business premises, two quality residential properties in good suburbs and a farm.
The clients accountant had done a good job in structuring their business and investments to both legally minismise their taxation liabilities and protect their assets.
Company A acts as corporate trustee for two trusts
Company B ownes the operating assets / equipment of the business
Because of the complexity of the structure and its apparent impact on capacity to service debt their previous broker had financed their considerable borrowings on a low doc basis with a non conforming lender. These borrowings had been in place a number of years.
When we met the clients they were concerned about the interest costs associated with their current borrowings, They also wanted additional working capital for the business and to look at development options for their business premises, as the owner of the adjoining land was obtaining approval for a unit development. If they were able to sell the business site or develop it, they wanted the flexibility and funds to be able to buy another business.
Following a detailed review of the clients financials we ascertained that subject to valuation we could achieve their objectives.
The transaction was submitted to a major bank via a local business manager, approved and subsequently settled.