Need to construct a small residential project but a ‘traditional lender’ said no? If the below criteria suits your scenario then we can help.
- Secured by First Mortgage
- Commercial property or up to 4 residential units or lots in a major metropolitan location
- Up to $3M Loan Amount
- No serviceability required, interest is capitalised for the term + extensions
- Up to 65% of the ‘as if complete’ value
- No Presales Required
- Rates are LVR and Postcode dependant from 8.45% to 10.45% per annum + a Line Fee of 2.50% 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.