Successful First Mortgage Private Loan in Leichardt: Assurity Capital Delivers Flexible Refinance Solution

When property owners need fast, practical refinance options—especially when plans change—private lending can provide the agility traditional lenders cannot. Assurity Capital recently settled a First mortgage private loan in Leichardt, secured against a mixed-use terrace valued at $1.7 million. This deal highlights our ability to provide tailored funding solutions supported by a strong, clear exit strategy.

The Scenario: Borrowers Pivot Away From Construction

The borrowers had previously obtained funding from a private construction lender with plans to complete renovation works on their mixed-use property in Leichardt.

Midway through the process, they made a strategic decision:

• They no longer wished to proceed with construction.

• Their new objective was to refinance the existing loan and prepare the property for sale.

Because their original lender specialised in construction finance, the borrowers required a new private lending partner who could deliver a fast refinance aligned with their updated goals.

Assurity Capital's Solution - Private loan Leichardt

First Mortgage Refinance

Assurity Capital provided a $1,105,000 First mortgage private loan, representing 65% LVR against the property’s $1.7 million value. This refinance replaced the previous private lender and positioned the borrowers to move toward their sale strategy.

Additional Second Mortgage to Cover Shortfall

During the assessment, a small shortfall was identified. To ensure the refinance could proceed without delay, Assurity Capital advanced:

• $130,000 as a Second mortgage,

• bringing total exposure to 72% LVR.

We were comfortable supporting this position due to the strength of the exit strategy—the borrowers were required to list the property for sale, providing a clear and achievable repayment path.

Why This Deal Worked

Flexibility

Assurity Capital can adapt quickly when borrowers’ plans or circumstances change.

Asset-Based Lending Approach

Strong collateral and a defined sale-based exit strategy made both the First and Second mortgage positions viable.

Practical, Real-World Support

When timelines shift, Assurity Capital provides sensible solutions that keep borrowers on track.

Outcome

With both the First and Second mortgage facilities in place, the borrowers successfully refinanced their previous lender, resolved their shortfall, and prepared to bring the mixed-use terrace to market. This successful First mortgage private loan in Leichardt demonstrates Assurity Capital’s commitment to delivering fast, flexible, and asset-driven lending solutions.