Mortgage Product Information Sheet |
Second Mortgages over freehold property |
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| LOCATION OF SECURITY PROPERTIES |
| Cities and Major Regional Centres. |
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| LOAN AMOUNTS |
| Minimum: $250,000 |
Maximum: $5,000,000 |
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| MAXIMUM LOAN TO VALUATION RATIO’S (LVR including 1st Mortgage) |
| Improved Residential |
75% |
Residential Vacant Land |
75% |
| Rural Residential |
70% |
Englobo Land (with DA in place) |
75% |
| Commercial/Industrial |
75% |
Specialised |
70% |
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| INDICATIVE INTEREST RATES (*Subject to change without notice) |
| 25% p.a. (fixed only) |
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| PAYMENT AND TERM OPTIONS |
 Interest only, the maximum term is 18 months. |
| Interest is to be prepaid at settlement & may be deducted from settlement proceeds |
| Preference is for genuine construction & development proposals. |
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| SERVICING CAPACITY |
| Borrowers must have strong asset position |
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| EXIT STRATEGY |
| Borrowers must have a clear, realistic & achievable plan to repay the loan on or before the maturity date |
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| LOAN FEES AND COSTS |
| Establishment Fees: |
2-3% of loan plus GST |
| Valuation Fees: |
By Quote |
| Legal Fees: |
By Quote |
