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Residential Subdivision – No Presales – 75% of GRV

Posted at January 11, 2019 | By : | Categories : Recent Transactions | 0 Comment

Purpose of Loan: To provide a construction facility for the development of a residential subdivision with no presale requirement

Loan Limit: 1st Mortgage – $5,635,000

LVR: 1st Mortgage – 75% of Gross Realisation value ex GST

Loan Term: 12 months

Facility Type: Construction Loan

Interest Rate: 12.00% per annum

Line Fee: 2.00% per annum

Presales: Nil