CONSTRUCTION LOAN

INTEREST RATE		6.46% pa Variable Rate.

LOAN TERMS		30 Years Available.

PURPOSE		Purchase Vacant Land and Construction of Residential Dwelling.

LOAN AMOUNTS		$50,000- $1,000,000

FEES		$750.00 to cover progress payment inspection fees(we have allowed for 3 inspections, any additional we be at $250.00 per inspection), plus a $300.00 Construction Drawdown Fee payable at settlement. Applicants are also liable for BMC's Solicitors fees payable at settlement of loan. (Note: If application does not proceed & valuation has been completed, applicant will be liable for valuation fee). No Monthly or Annual fees applicable.

MAXIMUM LVR		90%

REDRAW OPTION		Not available until loan is fully drawn.

SPLIT OPTION		Not available until loan is fully drawn.

PAYMENT MODE		INTEREST ONLY DURING CONSTRUCTION PERIOD.

PRINCIPAL REDUCTIONS		Not available until loan is fully drawn.

EARLY REPAYMENT FEE		Nil

LENDERS MORTGAGE INSURANCE		Required on all loans, paid by lender up to 80% & can be capitalised above 90% lvr for purchases only..