Bank Funded Dev Site – Capped Interest

Purpose of Loan: To provide a 1st mortgage facility against 8 units being amalgamated as a development site in Burleigh Heads. Loan to incorporate capitalised interest

Loan Limit: 1st Mortgage – $3,510,000

LVR: 1st Mortgage – 55% of As Is Value

Loan Term: 1 year

Facility Type: Commercial Loan

Interest Rate: 1st mortgage 6.68% per annum