60 Lot subdivision – No Presales

Purpose of Loan: To provide a 1st mortgage facility to fund the development of 60 residential lots with no presales. Funding secured with a bank

Loan Limit: 1st Mortgage – $9,490,000

LVR: 1st Mortgage – 60% of Gross Realisation

Loan Term: 1 year

Facility Type: Construction Loan

Interest Rate: 1st mortgage 5.10% per annum