Author Archive
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26 Units – Chermside
Purpose of Loan: To provide a construction facility for 26 residential units Loan Limit: 1st Mortgage - $6,710,000 LVR: 1st Mortgage - 80% of Total Development Costs excluding GST Loan Term: 15 months Facility Type: Construction Loan Interest Rate: Bank Bills + 2.00% margin per annum Presales: 75% of debt cover
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Loan Against Valuation rather than Purchase Price
Purpose of Loan: To provide a commercial facility against the valuation of a property rather than purchase price Loan Limit: 1st Mortgage - $611,000 LVR: 1st Mortgage - 65% of As Is value, being 79% of purchase price Loan Term: 3 years Facility Type: Commercial Loan Interest Rate: 5.65% per annum
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Commercial Office – 75% LVR
Purpose of Loan: To provide a commercial loan to 75% LVR Loan Limit: 1st Mortgage - $907,500 LVR: 1st Mortgage - 75% of As Is value Loan Term: 15 years Facility Type: Commercial Loan Interest Rate: 5.68% per annum
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Gold Coast Landbank
Purpose of Loan: To provide a land bank facility against a future development site at Burleigh Heads Loan Limit: 1st Mortgage - $1,425,000 LVR: 1st Mortgage - 50% of As Is value Loan Term: 12 months Facility Type: Commercial Loan Interest Rate: 3.65% per annum
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12 Luxury Townhouses – New Farm
Purpose of Loan: To provide a construction facility for the development of 12 luxury townhouses Loan Limit: 1st Mortgage - $10,275,000 LVR: 1st Mortgage - 75% of Total Development Costs excluding GST Loan Term: 14 months Facility Type: Construction Loan Interest Rate: 1.58% + bank bills per annum Presales: 40% of debt cover
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35 Units – No Presales
Purpose of Loan: To provide a construction facility with no presales for 35 residential units Loan Limit: 1st Mortgage - $6,621,000 LVR: 1st Mortgage - 66% of Gross Realisation excluding GST Loan Term: 15 months Facility Type: Construction Loan Interest Rate: 10.50% per annum Presales: Nil
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Builder/Developer – No Presales
Purpose of Loan: To provide a construction facility with no presales for 9 residential units Loan Limit: 1st Mortgage - $2,100,000 LVR: 1st Mortgage - 75% of Total Development Costs excluding GST Loan Term: 12 months Facility Type: Construction Loan Interest Rate: 2.00% + Bank Bills per annum Presales: Nil
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12 Lot Subdivision – No Presales
Purpose of Loan: To provide a construction facility with no presales for 12 residential lots Loan Limit: 1st Mortgage - $1,600,000 LVR: 1st Mortgage - 75% of Gross Realisation excluding GST Loan Term: 12 months Facility Type: Construction Loan Interest Rate: 9.50% per annum Presales: Nil
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14 Unit Project Indooroopilly – No Presales
Purpose of Loan: To provide a construction facility with no presales for 14 residential units Loan Limit: 1st Mortgage - $5,523,000 LVR: 1st Mortgage - 68% of Gross Realisation excluding GST Loan Term: 15 months Facility Type: Construction Loan Interest Rate: 10.75% per annum Presales: Nil
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9 Units Gaythorne – No Presales
Purpose of Loan: To provide a construction facility with no presales for a first time developer to develop 9 residential units Loan Limit: 1st Mortgage - $2,630,000 LVR: 1st Mortgage - 70% of Gross Realisation excluding GST Loan Term: 12 months Facility Type: Construction Loan Interest Rate: 10.25% per annum Presales: Nil
