Lenders Direct will consider loan applications from suitably qualified property developers and investors for commercial purposes. Broad parameters are:
• First and/or second mortgage loans for residential, industrial and commercial developments or investment properties.
• Mezzanine loans for construction and cost overruns on residential, industrial and commercial properties.
• Loan to valuation ratios of up to 85% in first and second mortgage blends.
• Loan terms of 3 months to 3 years.
• Loan amounts of between $500,000.00 and $20,000,000.00.
• Interest paid periodically in arrears or capitalised in advance and paid on termination of the loan.
• First or subsequent mortgage securities with collateral charges and the personal guarantees of borrower’s directors.