Refinancing a Private Facility About to Expire in Pymble
What to do when a private facility over a Pymble investment property is close to expiry, how a takeout is assessed, and a worked first mortgage example.
If a company or trust has a private facility over a Pymble investment property and the expiry is a couple of months away, the position is commoner than people assume and usually fixable, but it gets harder every week you leave it, because a lender looking at a takeout wants time to value the property and read the file rather than being handed a deadline.
Key facts for Pymble (2073), 12 months to September 2026
- Median five-bedroom house: $4.85 million. Four-bedroom: $3.45 million. Three-bedroom: $2.7 million.
- Median three-bedroom apartment: $1.475 million. Two-bedroom: $947,500.
- Houses take about 76 days to sell; units 42 to 51 days.
- Auction clearance: 30% to 57% by property type.
- 11,040 residents, 82% owner-occupiers, and 125 houses sold over the year.
Can an expiring private facility be refinanced?
Usually it can, and refinancing an existing facility is the most common thing private credit does, so there's nothing unusual about the request, though it helps to know what a lender wants to see before it refinances someone else's facility. We'll go to 75% of value on residential security, we write $1 million to $20 million as a first mortgage or $500,000 to $7.5 million as a second, and terms run 6 to 36 months.
The borrower has to be a company, a trust with a corporate trustee, an SMSF, or an individual where the loan isn't caught by the National Credit Act, and the property has to be completed and held for investment rather than lived in.
A worked Pymble example
Say a company owns a five-bedroom Pymble investment house worth about $4.85 million, a private first mortgage of $2.6 million over it expires in eight weeks, and the sale the original facility was written against hasn't happened yet.
| Line | Amount |
|---|---|
| Security value | $4,850,000 |
| Private first mortgage being refinanced | $2,600,000 |
| New first mortgage | $2,750,000 |
| LVR on the new facility | 56.7% |
| Headroom to a 75% cap | $887,500 |
At 56.7% there's a lot of room, and the $150,000 between the old balance and the new facility covers the costs of doing the refinance rather than putting money in anyone's pocket. The real question is why the first facility didn't clear, because if the campaign just ran long in a slow market then a longer term fixes it, and if the exit was never realistic then a new lender only moves the problem twelve months down the road.
Why these facilities run out of time
Most expiries we see come from a term written short in the first place, usually six months against a sale that was always going to take longer, and the borrower did nothing wrong except believe an optimistic timeline, so the fix is to write the second facility for the campaign you'd actually run, meaning twelve or eighteen months instead of six.
The practical advice is to start about three months out, because a valuation, a title search and the existing lender's payout figure all take time, and a borrower with four weeks left has fewer options than the same borrower with twelve. If the existing lender has issued a default notice, say so at the start rather than letting it surface later, since it changes what's possible but doesn't end the conversation.
How long would it take to sell in Pymble?
About 76 days on Domain's figures for four and five-bedroom houses, with units quicker at 42 to 51 days and clearance running 30% to 57%, a wide spread with a soft floor. Sydney house values fell 3.3% in the June 2026 quarter and a record 29.3% of auctions were withdrawn, so two and a half months on market is the good case, and twelve months with a six month minimum is the version that doesn't need refinancing again.
What actually settles here
Nothing settled against a Pymble property in the 90 days to August 2026, and nothing anywhere on the upper north shore, though five settled across northern Sydney, one each in Neutral Bay and Willoughby East, two in Ryde and one in Frenchs Forest, from $250,000 to $3.28 million, being two business investments, a refinance, a purchase and a construction line.
The two nearest were both in Ryde, a $1,631,250 first at 75% against a house for a purchase and a $1,225,000 first at 72.06% against a townhouse to refinance, and that second one is the transaction this page is about. Nationally there were 196, 82% secured by residential property at a median loan of $765,500, split 115 firsts and 81 seconds, and refinance was the largest purpose at 55, ahead of purchase at 42 and working capital at 39.
What Vía Private lends on
| Loan size | $1m to $20m first mortgage; $500k to $7.5m second mortgage |
| LVR | Up to 75% residential, 70% commercial |
| Term | 6 to 36 months |
| Borrower | Companies, trusts with a corporate trustee, SMSFs, and individuals where the loan is not NCCP-regulated |
| Purpose | Business and investment purposes only |
| Security | Completed residential, commercial or mixed use property in NSW, VIC, QLD and ACT |
What we will not do
We don't do consumer credit regulated by the National Credit Act, so if the security is the home you live in and the money is personal, we're not the right lender. We don't fund construction or development, and we don't lend against vacant land or pre-DA sites. Beyond that, we won't refinance a facility into another one with the same unrealistic exit, and we won't lend against an untested valuation.
Questions people ask
Can a private mortgage be refinanced when it is close to expiry? Usually yes. Refinance is the most common purpose in private lending, at 55 of the 196 loans settled nationally in the 90 days to August 2026. The assessment turns on the security position and whether the new exit is credible.
How early should I start? About three months before expiry, because a valuation, a title search and the outgoing lender's payout figure all take time, and the fewer weeks you leave yourself the fewer options you have.
Does a default notice from the current lender stop a refinance? Not automatically, but it changes what is available and needs to be disclosed at the start. A refinance that clears the existing facility in full is often still possible where the equity supports it.
How long does it take to sell a house in Pymble? About 76 days on Domain data for the 12 months to September 2026 for four and five-bedroom houses, with clearance between 30% and 57%. Units sell in 42 to 51 days.
What term should the new facility be written for? Long enough to cover the exit with room to spare. Vía Private writes 6 to 36 months, and a facility expiring because the first term was too short usually needs twelve to eighteen months rather than another six.
Getting a Pymble scenario looked at
Most of the scenarios we see come through accredited mortgage brokers, so if you're already working with one, send them this page and they can put it to us. If you'd rather come to us first, email begin@viaprivate.com.au with the property, the amount you need, what it's for and how you plan to repay it.
Nearby: Killara · Wahroonga · St Ives · Roseville · Lane Cove
Figures are indicative and for illustration only. Median values are Domain suburb data for the 12 months to September 2026. Market commentary is from the Domain House Price Report, June quarter 2026. Settlement counts are from a private lending panel covering 196 mortgages funded nationally in the 90 days to August 2026. Transfer duty is calculated at Revenue NSW 2026-27 rates. Vía Private lends to companies, trusts and SMSFs for business and investment purposes only and does not provide consumer credit regulated by the National Credit Act. This page is general information and does not take your objectives or circumstances into account. Last reviewed 13 September 2026.