Recent Transactions
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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
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1st Time Builder/Developer – NO PRESALES – Bank Funded
Purpose of Loan: To provide a construction facility for the development of 8 residential units to a first time builder/developer with no presales. Funding was secured via a main stream bank Loan Limit: 1st Mortgage - $2,180,000 LVR: 1st Mortgage - 75% of Total Development Costs excluding GST Loan Term: 12 months Facility Type: Construction Loan Interest Rate: 4.43% per annum Presales: Nil
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Business Acquisition – Unsecured
Purpose of Loan: To provide a commercial facility to assist with the acquisition of a café Loan Limit: 1st Mortgage - $350,000 LVR: 50% of the Purchase Price of the business Loan Term: 5 years Facility Type: Business Loan Interest Rate: 6.41% per annum
