Author Archive
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Lutana Street, Stafford
Purpose of Loan: To fund the development of 18 residential apartments/townhouses Loan Limit: $4,700,000 Loan Term: 12 months, then converts to a term facility Facility Type: Construction facility Presales: Nil
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Gordon St, Greenslopes
Purpose of Loan: To fund the development of 18 residential apartments Loan Limit: $5,200,000 Loan Term: 12 months, then converts to a term facility Facility Type: Construction facility Presales: 75% of debt cover
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Fenwick Rd, Boyand
Purpose of Loan: To fund the development of 18 rural residential lots Loan Limit: $2,200,000 Loan Term: 12 months, then converts to a term facility Facility Type: Construction facility Presales: Nil
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Blackwater – Mining
Purpose of Loan: To develop and hold 8 pre-fabricated houses in a mining town Loan Limit: $1,000,000 Loan Term: 12 months, then converts to a term facility Facility Type: Construction facility Presales: Nil
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Property settlements to go electronic
The era of physical title and bank cheque exchanges during property settlements may be over with the introduction of an online property platform. Property Exchange Australia (PEXA) is to be the real estate equivalent of the Australian Stock Exchange (ASX), according to a Marcus Price, chief executive officer of the system’s developer, National e-Conveyancing Development Limited (NECDL). “It’s a similar process the ASX went through when they went from share script to a digital register,” Price says. “It’ll ...
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Toowong Apartments
Purpose of Loan: To fund the development of 18 residential apartments Loan Limit: $6.5m - 1st Mortgage LVR: 75% of total development costs (client was a builder/developer) Loan Term: 15 months then converts to a term facility Facility Type: Construction Facility Pre-Sales: 75% of debt cover
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Jersey Rd, Morningside
Purpose of Loan: To develop 10 townhouses Loan Limit: $3.6m - 1st Mortgage and $250,000 - 2nd Mortgage LVR: 1st Mortgage to 75% of gross realisation and 2nd Mortgage to 80% of gross realisation Loan Term: 12 months Facility Type: Construction Facility Pre-Sales: Nil
