Balmain Private Lenders, any experienced developers or investors used them?

Discussion in 'Loans & Mortgage Brokers' started by Harry30, 7th Jul, 2018.

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  1. Harry30

    Harry30 Well-Known Member

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    Anyone had any experience borrowing money using Balmain Private Lenders. They appear to lend for large scale property and land development, with LVRs between 40-65% and interest rates between 7-8% p.a?
     
    Harry30, 7th Jul, 2018
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  2. euro73

    euro73 Well-Known Member Business Member

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    Yeah . Plus app fees , val fees , QS fees - all payable up front and all non refundable .

    Plenty of private funders about . With the banks being almost closed for developer finance for the past 3 years , these guys have been making a fortune .

    Rates can be as high as 12-15% . You’d want to have a very thorough grasp of what you are doing at these rates .... any slip up or delays or variations and your margins get skinny, fast
     
    euro73, 7th Jul, 2018
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  3. Harry30

    Harry30 Well-Known Member

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    Maybe it’s better being on the other side of the equation. You can invest in their individual mortgages and get 6-7%. If they are on lending at 12-15%, sounds like they are making a nice healthy margin on the way through.
     
    Last edited: 8th Jul, 2018
    Harry30, 8th Jul, 2018
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  4. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Rolf Latham, 8th Jul, 2018
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