Large Scale Property Development

Who is this for?
Companies and Trusts

LVR:
Up to 65% LVR of Land Only (Site Acquisition)
Up to 70% GRV of Construction
Up to 80% GRV During Construction (Structured Debt Facility)

Rates From:
1st RM 8.5-10.5%
2nd RM (As part of Structured Debt Facility) 13.5%

Loan Amounts From:
$5M to $80M
Higher Loan Amounts Available if quality of development substantiates

Zoning:
Residential and Commercial Securities in Security risk category 1&2 only on the Eastern Seaboard

Purpose:
Construction – Large Scale Property Development

Prepaid Interest for the Loan Term
This is able to be facilitated and drawn down against the loan amount only in the event that there is a Corporate Borrower, and an Accountants Letter is provided to verify serviceability at the conclusion of the build along with verification from the valuer of rental income from any properties to be retained.

Presales:
Not generally a requirement, however may become required at higher GRV Borrowings and higher risk sites

Credit Impairments:
On a case-by-case basis

Lenders Settlement:
1.5% from settlement

Lenders Application Fees:
Subject to risk of proposal and development, and time-lag between application and Starting of development

Union Fidelity:
Up to 1.1%* from settlement.
0.1% of loan amount Processing Fee. (min $990)

Introducing Broker: 
Up to 1.1%* from settlement

Valuations:
Standard Commercial From $1 per $1000 in value with no travel

Legal Fees Std Fees From
$TBA with no existing mortgage