With all construction and development loans we are in close contact with the builder and the quantity surveyor to monitor the progress draws against work completed, this ensures there is sufficient funds remain with us the lender to complete the development.

Funds are held by us and advanced as work is completed, with funds retained on a “cost to complete” basis based on reports received from the quantity surveyor or valuer.

This report must state:

  • The cost and value of development completed to   date.

  • That the development has been carried out in accordance with the approved plans, specification and all other approvals

  • Up to 80% of Loan to value ration of Gross Value

  • Interest Rates from 12.0%

  • Loan amount – no minimum or maximum amounts. We have lent amounts ranging from $27,000.00 to $45,500,000.00
  • That work completed to date has been completed in a proper and workmanlike manner using appropriate and good quality materials

  • That there is sufficient funds to completed the development in accordance with the plans and specification
  • Establishment fee from 1.0%

  • Fast approvals

  • Professional team providing personal service
 

For further details contact EHS on 1800 064688.