Are you about to purchase a development site? or do you have a development site and want more funds to cover marketing and BA costs?
We can provide quick and simple loans against your development site.
Providing loans on development sites from $2mil to $15mil
- Max LVR of 80%;
- Cost of funds can vary from 12%pa up to 15%pa dependent on risk and sponsor strength;
- Loan establishment fee of 3%, payable as
- $10,000 upon application to cover credit committee preparation and review,
- $15,000 on formal offer acceptance, this is covers loan documentation costs.
- Balance payable on loan settlement.
- In most cases the mortgage security will be limited to the subject property, and personal guarantee, this means we don’t tie up all of your assets (banks can often cross collateralize your portfolio to satisfy interest servicing)
- More flexible on choices ofValuation firm;
- Streamlined credit process, most loans we have issued an approval in 1-2 days
- Credit process is focused on the property / project, rather than a full interrogation of the sponsor’s ability to repay or service the loan