Author Archive
-
Landbank – Sunshine Coast
Purpose of Loan: To provide a facility against a vacant land without DA for a period of 6 months to allow for DA to be obtained Loan Limit: 1st Mortgage - $450,000 LVR: 1st Mortgage - 70% of As Is value Loan Term: 8 months Facility Type: Private Loan Interest Rate: 12.00% per annum
-
3 x Luxury Houses – Bank Funded No Presales
Purpose of Loan: To provide a construction facility for the development of 3 luxury residential houses at Taringa with no presale requirement Loan Limit: 1st Mortgage - $2,500,000 LVR: 1st Mortgage - 65% of Total Development Costs ex GST Loan Term: 1 year Facility Type: Construction Loan Interest Rate: 6.55% per annum Line Fee: 0.00% per annum Presales: Nil
-
Private Loan to SMSF Borrower
Purpose of Loan: To provide a loan to a SMSF purchaser of a new unit in Melbourne Loan Limit: 1st Mortgage - $205,000 LVR: 1st Mortgage - 55% of the market value Loan Term: 5 years Facility Type: Private Loan Interest Rate: 7.50% per annum
-
Cash Out – Asset Lend
Purpose of Loan: To provide a cash out facility against an unencumbered rural property, with funds to be used for business purposes. Funds to be progressively drawn down as required with interest only payable on the outstanding limit Loan Limit: 1st Mortgage - $570,000 LVR: 1st Mortgage - 65% of the market value Loan Term: 1 year Facility Type: Private Loan Interest Rate: 12.95% per annum
-
14 Lot Residential Subdivision
Purpose of Loan: To provide a construction facility for the development of 14 residential lots at Mango Hill with no presale requirement Loan Limit: 1st Mortgage - $2,615,000 LVR: 1st Mortgage - 70% of Gross Realisation Value ex GST Loan Term: 1 year Facility Type: Construction Loan Interest Rate: 9.00% per annum Line Fee: 2.00% per annum Presales: Nil
-
2 x Luxury Houses – New Farm
Purpose of Loan: To provide a construction facility for the development of 2 luxury houses in New Farm with no presale requirement Loan Limit: 1st Mortgage - $3,289,000 LVR: 1st Mortgage - 65% of Gross Realisation Value ex GST Loan Term: 1 year Facility Type: Construction Loan Interest Rate: 4.67% per annum Line Fee: 1.60% per annum Presales: Nil
-
5 x Townhouses – No Presales
Purpose of Loan: To provide a construction facility for the development of 5 townhouses in Nundah Loan Limit: 1st Mortgage - $1,995,000 LVR: 1st Mortgage - 70% of Gross Realisation Value ex GST Loan Term: 1 years Facility Type: Construction Loan Interest Rate: 11.95% per annum Presales: Nil
-
Residual Stock Loan – Indooroopilly
Purpose of Loan: To provide a residual stock facility against completed units Loan Limit: 1st Mortgage - $2,440,000 LVR: 1st Mortgage - 70% of As Is value Loan Term: 5 years Facility Type: Residual Stock Loan Interest Rate: 7.10% per annum
-
Landbank on $13M Purchase – 75% LVR
Purpose of Loan: To provide a landbank facility against a future development site - no DA in place Loan Limit: 1st Mortgage - $8,600,000 LVR: 1st Mortgage - 75% of As Is value Loan Term: 1 years Facility Type: Landbank Loan Interest Rate: 8.50% per annum
-
5xTownhouses No PreSales
Purpose of Loan: To provide a construction facility for the development of 5 townhouses in Greenslopes Loan Limit: 1st Mortgage - $2,300,000 LVR: 1st Mortgage - 70% of Gross Realisation Value ex GST Loan Term: 1 years Facility Type: Construction Loan Interest Rate: 10.00% per annum Presales: Nil
