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 Loan amount:
- Loan facilities from $500,000.
Purpose:
- Development finance provided for residential/commercial funding in metropolitan and immediate surrounding areas and other areas on its own merits.
Interest rate/costs:
- Competitive rate with costs kept to a minimum.
- Variable interest rate.
- Interest only with option of capitalisation.
- Interest is calculated on a daily balance and raised at the end of the month.
Advances:
- Progress payments can be paid to the builder or contractor.
- Same day payments by cheque or EFT - subject to valuation or progress inspection (if required).
Loan to security ratio:
- Residential construction up to maximum 80%.
- Commercial up to maximum 75%.
- Land subdivision up to maximum 75%.
Loan term:
- Short term finance with option of longer term available.
Personal service:
- Direct staff contact.
- Local decision making.
- Fast turnaround times.
- Dedicated relationship manager.
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