Financing Home Office - Story of a WFH warrior
Case Study - Story of a WFH warrior
The CBDs of Australia's capital cities are slowly embracing the return of city commuters and the workforce.
One of the most distinct phenomena across the global village is the rise of WFH (work from home). It’s not our expertise to debate the future of office or shared office business model. As someone who is a participant in the lending industry catered for business owners and founders, this week I have the consent from the CEO of a business housed in the Sydney CBD to tell the story of a borrower seeking a home office with proximity to his usual office (aka pre-pandemic office).
The more than 100 days Sydney lockdown has turned this CEO to be a WFH warrior, whilst the back-to-office motion is gathering pace, he wants to seek the same comfort of home office meanwhile remaining an agile distance from his other colleagues. So he decided to seek an apartment in the city, and plan to convert it into his dream home office.
An SPV (Special purpose entity/vehicle) is to be set up by an accountant, as the holding entity of the to-be-acquired property.
The traditional financing path is out of the picture for the time being, understandably due to financials on paper being taken a hit from the pandemic. We manage to fund the “home office” property with a 12mth term (option to extend) so the CEO has sufficient time to rebuild profitability and transition into a traditional loan.
Why choose N1? 1. Diverse and resilient funding. N1’s loans are funded through various large institutional and private funding sources. 2. Industry recognized. N1 holds AFSL and ACL, and registered with AFCA. 3. Tailored and niche product offering and outstanding service proposition. 4. Flexible policy, accept various property types Australia wide What we offer:
First and second mortgage
Flexible policy and rates
Speak DIRECTLY to decision-makers
Funding ready to deploy
Terms and conditions laid out with no hidden fees and no hidden clauses
Residential, commercial, industrial property and vacant land accepted
All states of Australia welcomed
3-36 months loan term
Feel free to reach out to our friendly team if you have a scenario to discuss.