No Presales – Bank Funded Unit Project

Purpose of Loan: To provide a 1st mortgage facility to develop 8 residential units with no presale requirement

Loan Limit: 1st Mortgage – $2,128,000

LVR: 1st Mortgage – 50% of Gross Realisation Value

Loan Term: 1 year

Facility Type: Construction Loan

Interest Rate: 1st mortgage 3.50% per annum

Line Fee: 1.50% per annum