In another crowdfunding first, DomaCom Australia announced that the crowdfunding campaign to fund a mortgage backed loan has been successfully completed.
Newcastle based financial advice firm Shartru Wealth Management has used the DomaCom platform to acquire a $1.6 Million residential property in Melbourne using both debt and equity. A crowdfunding campaign was completed to raise approximately $682K for the equity component and another campaign was completed to raise the remaining $948K debt.
In executing both sides of the transaction, Shartru have been able to satisfy the growth needs of their accumulation clients as well as the income needs of their retiree clients with an attractive net return of 5.06% in a low risk environment. The loan is secured by a first mortgage security on residential property with a conservative LVR of around 60%.
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