We’re regularly told to seek a second opinion when it comes to complex health matters, but can the same be said for property finance too? In the case of this medical professional, we made the impossible possible.

There are complex transactions happening every hour of every day in the world of property.

And then there are complex transactions.

When our client, a Sydney-based health professional and seasoned property investor, approached us with a unique challenge, it would be a case of making the impossible possible.

How complex are we talking here? Multiple properties on one title under a personal name can be a challenge to secure finance for at the best of times, but our client was attempting to fit seven properties on one title under his personal name, when four is usually maximum. They were bound by a $550,000 non-refundable holding deposit and had only 12 days to exchange contract. The transaction involved refinance of several securities, and the interest rate had to be under 6%.

Challenge accepted.

Challenge and opportunity

From the outset, we understood that meeting the client’s unique needs would be a top priority. This included being available and flexible to work around his busy schedule as a medico, including evenings, and keeping him informed of key developments at every single step of the process.

Well-versed with property investing, our client was acutely aware of the bottlenecks and equally realistic about the challenges interwoven with his aspirations. Nevertheless, this wouldn’t deter him from realising his ambition.

With that said, the uniqueness of the scenario was evident — the maximum number of properties typically allowed by lenders under one title and personal name is four. Anymore than this would require the borrower to be a corporation. Furthermore, the situation was compounded by time constraints and the challenge of low interest rates.

Clearly, our work was cut out for us. This was an intricate transaction and one that would need all of our experience to deliver a desirable outcome for our client.

Making the impossible possible

To put the challenge into perspective, prior to approaching Pristine, our client had maintained a private banking relationship with a major bank for over 20 years, showcasing an impeccable track record. Regrettably, the bank’s specialised teams across both commercial and residential were unable to provide the necessary support, resulting in an unsuccessful application outcome.

So, how did we find a solution?

Well, what sets us apart from other brokers and banks is our commitment and ability to find a way no matter how big the obstacle is in front of us. When Pristine accepted the brief, we immediately put our heads together to develop a strategy that was smart and detailed.

Led by our highly-experienced commercial broker, Manuel, we leveraged our deep and trusted networks built up over 20 years to find a way through. The goal of the team here wasn’t just to set and forget either — we wanted to create a structure that was sustainable and future-proofed.

Against all odds

Through our expertise and proactiveness, the Pristine team successfully, and against the odds, secured the finance needed to get the transaction over the line for our client to realise his lofty investment goals. Ultimately, there was no way to circumnavigate completing the transaction within 12 days, so instead, we worked with our clients legal team who negotiated a time extension, as well as favourable terms to ensure the non-refundable $550,000 deposit was only paid after the unconditional approval.

Due to the uniqueness of their circumstances — whether it’s a potentially complex transaction, their lack of time because of work commitments, or the fact they live overseas and can’t deal with Australian lenders, agents, or lawyers in person — we have the facilities, expertise and connections to carve out a path forward where others can only see a dead end.

Such a positive outcome reinforces the value of seeking specialised financial services when traditional retail banking products may not quite meet the requirements of complex and timebound transactions.

And at the end of the day, being aware that everyone has different needs, we see firsthand how seeking that second opinion can sometimes secure the best possible prognosis for your own financial health — no matter how rare