Author Archive
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69 Units Across 8 Levels
Purpose of Loan: To provide a construction facility for the development of 69 residential units in Kangaroo Point Loan Limit: 1st Mortgage - $26,790,000 LVR: 1st Mortgage - 80% of Total Development Costs ex GST Loan Term: 18 months Facility Type: Construction Loan Interest Rate: Bank bills + 1.25% per annum + 1.25% line fee Presales: 100% of debt cover
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Nightclub – Purchased by SMSF
Purpose of Loan: To provide a facility to purchase a prominent Sunshine Coast nightclub in a self managed superannuation fund Loan Limit: 1st Mortgage - $1,950,000 LVR: 1st Mortgage - 65% of land value Loan Term: 15 years Facility Type: Commercial Loan Interest Rate: 4.87% all up rate inclusive of line fee
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80% LVR – Commercial Loan
Purpose of Loan: To provide a facility to purchase an owner occupier warehouse Loan Limit: 1st Mortgage - $511,200 LVR: 1st Mortgage - 80% of property value Loan Term: 15 years Facility Type: Commercial Loan Interest Rate: 5.20%
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Landbank Finance – Bank Funded
Purpose of Loan: To provide a facility to landbank a future development site Loan Limit: 1st Mortgage - $4,672,000 LVR: 1st Mortgage - 55% of land value Loan Term: 12 months Facility Type: Commercial Loan Interest Rate: Bank bills + 1.50% per annum + 1.50% line fee
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25 Unit Development
Purpose of Loan: To provide a construction facility for the development of 25 residential units Loan Limit: 1st Mortgage - $6,385,000 LVR: 1st Mortgage - 80% of Total Development Costs ex GST Loan Term: 15 months Facility Type: Construction Loan Interest Rate: Bank bills + 2.00% per annum Presales: 75% of debt cover
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Landbank – 70% LVR Capitalised Interest
Purpose of Loan: To provide a land facility against the acquisition of a site with no DA Loan Limit: 1st Mortgage - $1,260,000 LVR: 1st Mortgage - 70% of As Is value Loan Term: 12 months Facility Type: Commercial Loan Interest Rate: 10.75% per annum Presales: N/A
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6 Luxury Houses – Bank Funded No Presales
Purpose of Loan: To provide a construction facility for 6 luxury residential houses Loan Limit: 1st Mortgage - $5,500,000 LVR: 1st Mortgage - 75% of Total Development Costs excluding GST Loan Term: 15 months Facility Type: Construction Loan Interest Rate: 6.54% per annum Presales: Nil
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24 Units – Sherwood
Purpose of Loan: To provide a construction facility for 24 residential units Loan Limit: 1st Mortgage - $7,015,000 LVR: 1st Mortgage - 80% of Total Development Costs excluding GST Loan Term: 15 months Facility Type: Construction Loan Interest Rate: Bank Bills + 2.25% per annum Presales: 75% of debt cover
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Non-Recourse No Presales Bank Funding – Sunshine Coast Land Subdivision
Purpose of Loan: To provide a construction facility for 25 residential lots Loan Limit: 1st Mortgage - $2,740,000 LVR: 1st Mortgage - 60% of Total Development Costs excluding GST Loan Term: 12 months Facility Type: Construction Loan Interest Rate: Bank Bills + 1.81% per annum Presales: Nil
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Land Subdivision No Presales – Bank Funded
Purpose of Loan: To provide a construction facility for 12 residential lots Loan Limit: 1st Mortgage - $1,675,000 LVR: 1st Mortgage - 80% of Total Development Costs excluding GST Loan Term: 12 months Facility Type: Construction Loan Interest Rate: 6.59% per annum Presales: Nil
