Purpose of Loan: To provide a 1st and 2nd mortgage construction facility for the development of 42 residential lots at Logan Reserve with no presale requirement
Loan Limit: 1st Mortgage – $6,960,000
Loan Limit: 2nd Mortgage – $400,000
LVR: 1st Mortgage – 70% of Gross Realisation Value ex GST
LVR: 2nd Mortgage – 76% of Gross Realisation Value ex GST
