Acceptable Loan Purposes:general-loan-1-03

  • Development finance for commercial property.
  • Investment finance for commercial property.

Qualification Criteria:

Development

  • Registered first mortgage/s over property being developed.
  • General Security Agreement (GSA) over all of the developer’s / owner’s rights and undertakings in respect of all security property, including pre-sale deposits where appropriate as well as project documentation.
  • Directors’/ shareholders’ guarantees.
  • Other documentation necessary to achieve appropriate control and permit completion of the development in event of customer default (e.g. builder’s side-deed (if construction budget is greater than $5m net of GST).
  • Rights to designs, intellectual property, etc. relevant to the development) – it can be necessary to join other parties (e.g. external architects) into documentation to achieve this.

Investment

  • Registered first mortgage/s over security property.
  • General Security Agreement (GSA) over all of the investor’s/ owner’s rights and undertakings in respect of all security property.
  • Directors’/ shareholders’ guarantee.

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