Need to construct a small residential project but a ‘traditional lender’ won’t give you enough cash? If the below criteria suits your scenario then we can help.
- Secured by Second Mortgage
- First Mortgage provided by a prime ‘traditional lender’ e.g. a bank
- Up to 4 residential units or lots in a major metropolitan location
- Up to $2M Loan Amount
- No serviceability required, interest is prepaid up to 12 Months + extensions
- Up to 65% of the ‘as if complete’ value
- No Presales Required
- Rates are LVR and Postcode dependant from 18.95% to 22.95% per annum
- Pricing for major metro areas provided, all other postcodes considered on application
- Settlement within 5 days of receipt of all outstanding information
- Non-Coded Loans only
Non-Coded Loans are loans that are applied wholly or predominately for business or investment (other than residential investment) purposes.
If the Borrower is an established Australian company, then the loan is deemed to be Non-Coded.