First Mortgage for Apartment Purchase in Darwin City – Fast Approval With No Formal Valuation

Assurity Capital
3 days ago
3 min read

Assurity Capital recently funded a first mortgage in Darwin city North Territory for the purchase of an apartment, providing a fast, flexible solution for a buyer who needed certainty and speed. With a strong equity position and clear market evidence, Assurity Capital approved the loan at 65% LVR and waived the need for a formal valuation after conducting its own internal assessment.

This case study highlights our ability to make commercial decisions that support real-world buying timeframes—especially in regional and northern markets where traditional lenders often delay settlements.

The Scenario

A client sought funding to purchase an apartment located in Darwin City, one of the Northern Territory’s key residential and investment markets. The property was being purchased on market and required a lender capable of delivering a timely approval without long processing times.

Key Details - First Mortgage Darwin

Loan Type: First Mortgage
Loan Amount: $178,750
Purchase Price: $275,000
Leverage: 65% LVR
Purpose: Residential apartment purchase
Location: Darwin City, NT
Valuation: Waived — internal assessment conducted

With a solid purchase price, verifiable market evidence, and a conservative LVR, the loan was ideally suited for Assurity Capital’s private first-mortgage criteria.

Why Darwin City Is an Attractive Market

Darwin City is experiencing renewed demand due to:

The NT’s strong rental yields
Government-backed infrastructure spending
Growth in defence, resources, and logistics sectors
Limited new apartment supply coming online
Increasing investor interest from interstate buyers

The city’s combination of affordability and stable rental demand makes it a compelling market for both owner-occupiers and investors.

This presented a sound lending opportunity with clear resale value and strong underlying security.

Why Assurity Capital Waived the Formal Valuation

Unlike traditional lenders, Assurity Capital can make commercial lending decisions based on internal assessments, especially when:

LVR is conservative → in this case, just 65%
Property is being purchased on market
Comparable market evidence is readily available
Title search and contract of sale support value
Borrower circumstances are clear and low risk

Our internal valuation review confirmed:

The property type is consistent with similar local stock
The purchase price is aligned with Darwin City apartment sales
Security risk is low given the equity position
Time-sensitive funding was required to complete the purchase

As a result, the loan was approved without a formal valuation, saving the borrower time and cost.

The Outcome

Assurity Capital delivered:

Fast approval suitable for an on-market purchase
No external valuation requirement
Clear loan terms and straightforward documentation
Funding at a competitive 65% LVR
Confidence for the buyer to proceed without delay

The borrower successfully secured the apartment, meeting the contract deadline and avoiding the uncertainty of bank turnaround times.

Why Borrowers Choose Assurity Capital for First Mortgages

Assurity Capital specialises in asset-backed private lending, providing flexible first mortgage solutions for:

Property purchases
Refinancing
Business and investment purposes
Regional and interstate lending
Situations requiring fast approval or limited documentation

We assess scenarios on their merits, focusing on:

Real security value
Commercial loan purpose
Strong equity positions
Practical approval timeframes

Our ability to waive formal valuations when appropriate is a key advantage for buyers working to meet settlement deadlines.

Need a Fast First Mortgage Loan for a Purchase?

Whether you’re purchasing in Darwin City, the NT, or anywhere across Australia, Assurity Capital can structure a fast, flexible first mortgage solution tailored to your needs.