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