Rikvin Capital refinances an oceanfront bungalow for a client with TDSR issues
| Location | Sentosa, Singapore |
| Market Value | S$ 12,000,000 |
| Loan Amount | S$ 17,500,000 |
| Loan-to-Value | 70% |
| Duration of Loan | 12 Months |
| Payment Schedule | Monthly Interest Payment |
| Asset Type | Bungalow |
| Completion Time | 14 Days |
Problem
- Our client needed extra funds for business capital injection
- The mortgage amount with our client’s bank was at its maximum loan-to-value (LTV) of 50%
Solution
- Rikvin Capital realised the unique value of the property and was able to offer a higher LTV of 70%
- The individual refinanced with us and Rikvin Capital took over the bank mortgage
- Shortly after, the individual sold the property for a profit and paid back the loan.
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Short-term loan prevents the loss of SGD 2 million in Singapore
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