Lite & No Doc Construction
Overview
• All construction loans are different from normal home loan because it can be drawn in stages rather than a lump sum at settlement.
• These stages are in line with construction stages and to our satisfaction
• The loan is normally at a variable rate during construction, and you normally make interest payments on the amount drawn and on the holding funds if it is private fund
Target
Individuals (PAYG or self-employed), Investors, Companies, Partnerships or Trusts
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Loan Purpose |
Loans considered for construction being residential and investment being non Regulated by the UCCC |
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Loan Features |
• Loans give freedom to Build ,develop or take part in the project |
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Loan Products |
All facility is draw down one and double and multiple security acceptable |
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Minimum Loan Size |
$50k Double and multiple security acceptable |
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Maximum Loan size |
$15,000,000 (Subject to the loan scenario and to the LVR) Single security |
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Loan to Value Ratio |
• 70% to 15,000,000 on first (1st) Mortgage (Both Doc ) No Mortgage insurance |
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Minimum Loan Terms |
Interest only from 1year to 5 years |
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Maximum Loan Terms |
5 years Interest only facility |
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Loan Repayment Frequency |
Monthly in advance date can be nominated |
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Security Type |
Residential investment, industrial and commercial only and non regulated |
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Redraw Available |
Null |
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Split Loan Available |
Null |
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Dynamic Repayment |
Null |
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Additional Repayment |
Principal reductions not applicable |
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Loan statements |
Issued Half Yearly (But you can ask us when required we will mail them to you charges apply). |
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Documentation Required |
Subject to the loan purpose, please call 1300 790 909 for more details |
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Financial Information |
Borrowers who can demonstrate serviceability |
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Qualifying Interest Rate |
Please call our consultant on 1300 790 909 for more details |
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Other Conditions |
A. Lo Doc & No Doc Borrowers must be self employed or an Investor , has an ABN number and registered for GST |
