Product specification
- Interest rates on all products from 5%, establishment fees on all products from 0.15% (pricing subject to risk and location)
- Construction and development funding:
- Maximum LVR 80% of GRV(subject to location and Valuation)
- No pre-sale requirement
- No line fees
- No early exit fees
- The following guideline applies to target development margin, please note, these guidelines apply in conjunction with Valuers’ recommendations
· 15% - 18%
Usually short term development considered to be relatively risk free, small in size, DA in place construction costs fixed, presales reasonably certain, construction may be in progress.
· 18% - 22%
Generally medium term development medium in size with some associated risks such as prolonged development periods, possible lower level of presales.
· 22% +
Longer term larger development or medium term developments with more risk be it requirement of approvals, critical milestones to be met, no presales in place and the like.
Other loan structures
- Commercial property loans and Industrial property loans, up to a maximum LVR of 75%, subject to location and Valuation
- Vacant Land loans with all approvals in place, up to a maximum LVR of 70%, subject to location and Valuation, as well as lead time to being “Shovel ready”
- Vacant Land loans without all approvals in place, up to a maximum LVR of 60%, subject to location and valuation, as well as lead time to having all approvals in place
- Preferred loan size $1,000,000-00 to $1000,000,000-00, larger proposals will be considered on a deal by deal basis
- Construction loans, subdivision loans and development loans, maximum 80% of GRV
- This product specification excludes non-resident loans, as well as bridging facilities