Short Term 2nd Mortgage – against substantially completed development project

Purpose of Loan: To provide a quick solution to a capital shortfall via a 2nd mortgage using a development property as security

Loan Limit: 2nd Mortgage – $250,000

LVR:  2nd Mortgage – 85% of Gross Realisation including GST

Loan Term: 6 months

Facility Type: Short Term Loan

Interest Rate: 24% per annum