344 Lot Subdivision – No Presales

Purpose of Loan: To provide a construction facility for Stage 1 (46 lots) of a master planned land subdivision (344 lots)

Loan Limit: 1st Mortgage – $16,000,000

LVR: 1st Mortgage – 60% of Gross Realisation ex GST + 50% of balance land value

Loan Term: 12 months

Facility Type: Construction Loan

Interest Rate: 6.70% per annum

Presales: Zero