Author Archive
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76% of GRV No Presales – Land Subdivision
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 Loan Term: 1 year Facility Type: Construction Loan Interest Rate: 1st mortgage 9.00% per annum Line Fee: 3.00% per annum Interest Rate: 2nd mortgage ...
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11 x Townhouses – No Presales
Purpose of Loan: To provide a construction facility for the development of 11 residential townhouses at Loganholme with no presale requirement Loan Limit: 1st Mortgage - $3,100,000 LVR: 1st Mortgage - 70% of Gross Realisation Value ex GST Loan Term: 1 year Facility Type: Construction Loan Interest Rate: 10.25% per annum Line Fee: 1.00% per annum Presales: Nil
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Residential Subdivision – No Presales – 75% of GRV
Purpose of Loan: To provide a construction facility for the development of a residential subdivision with no presale requirement Loan Limit: 1st Mortgage - $5,635,000 LVR: 1st Mortgage - 75% of Gross Realisation value ex GST Loan Term: 12 months Facility Type: Construction Loan Interest Rate: 12.00% per annum Line Fee: 2.00% per annum Presales: Nil
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80% LVR – Commercial Property
Purpose of Loan: To provide a bank facility to 80% LVR against a new industrial warehouse being purchased in Thomastown Loan Limit: 1st Mortgage - $240,000 LVR: 1st Mortgage - 80% of As Is value Loan Term: 15 years Facility Type: Term Loan Interest Rate: 5.45% per annum
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467 Lot Staged Subdivision
Purpose of Loan: To provide a rolling construction facility for the development of 467 residential lots across multiple stages 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 rolling as applicable Facility Type: Construction Loan Interest Rate: 3.75% per annum Line Fee: 1.60% per annum Presales: 50% of debt cover
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Management Rights – Kangaroo Point
Purpose of Loan: To provide a Management Rights facility against 63 units in Kangaroo Point Loan Limit: 1st Mortgage - $1,043,000 LVR: 1st Mortgage - 70% of Managers Unit + Management & Letting Rights business Loan Term: 3 years Facility Type: Bank Bill Business Loan Interest Rate: 3.50% interest rate Line Fee: 1.70%
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Bank Landbank Loan
Purpose of Loan: To provide a bank facility to acquire a non-DA development site for future development Loan Limit: 1st Mortgage - $695,000 LVR: 1st Mortgage - 50% of As Is value Loan Term: 12 months Facility Type: Landbank Loan Interest Rate: 6.50% per annum Line Fee: 0.00% per annum
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$4M Corporate Facility
Purpose of Loan: To provide wholesale funding to the borrower to enable it to provide lending facilities to approved clients Loan Limit: $4,000,000 LVR: 52.50% of the value of the loan book Loan Term: 3 years Facility Type: Corporate Loan Interest Rate: 15.00% per annum
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Bank Landbank Loan
Purpose of Loan: To provide a bank facility to acquire a riverfront development site for future development Loan Limit: 1st Mortgage - $5,785,000 LVR: 1st Mortgage - 55% of As Is value Loan Term: 18 months Facility Type: Landbank Loan Interest Rate: 6.68% per annum Line Fee: 0.00% per annum
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6 x Townhouses – No Presales
Purpose of Loan: To provide a construction facility for the development of 6 residential townhouses at Loganholme with no presale requirement Loan Limit: 1st Mortgage - $1,700,000 LVR: 1st Mortgage - 70% of Gross Realisation Value ex GST Loan Term: 1 year Facility Type: Construction Loan Interest Rate: 10.00% per annum Line Fee: 1.00% per annum Presales: Nil
