| FEATURES |
| Overview |
Commercial, Residential, Industrial & Retail property construction projects |
| Minimum Loan |
$1,000,000 |
| Maximum Loan |
$500,000,000 |
| Maximum LVR |
Up to 100% funding** |
| Min Interest Cover |
1.5 times |
| Loan Terms |
6 months - 2 years |
| Interest Types |
Variable Interest Only |
| Acceptable Loan Purpose |
Development |
| Acceptable Securities/Location |
Capital and other cities. Regional centres with a min pop of 30,000 |
| LOAN DOCUMENTATION |
| Supporting Documents |
- Recent two financial years Financial Statements & Tax Returns for both individual & company
- Copy of council approval and building permit
- Copy of fixed price or draft copy of the tender
- Copy of council approved plans and specifications
- Resume of builder to be used in the proposed development
- Details of historical projects undertaken by the Borrower/s
- Proposed Marketing Agent and strategy for sale of completed development or evidence of pre-sales
|
| General Requirements |
- Signed Application Form
- Signed Mandate to Act
- Corporate Structure*
- Commitment Fee
- Other loan statements may be required
- Copy of 100 point IDIf purchase
If purchase
- Copy of front page of ContractIf refinance
If refinance
- Recent six (minimum) months loan statement for the loan being refinanced
|
* Where more than one company involved in this transaction, a diagram will be requested illustrating the borrowing entity, including the legal name, type of entity, when formed, principal partners or shareholders with percentage ownership
** Terms and Conditions Apply |