The following are a general indication
of the terms upon which approved proposals can be favourably
entertained, but which are subject to prevailing monetary market
conditions and policy trends at the time of funding being made.
2) PROPERTY FINANCE
All types, including mortgages; standby; development and investments for periods of up to thirty (30) years.
2.01 REAL ESTATE MORTGAGES AND INVESTMENTS
The general lending policy outlined herein, is subject to geographical location and attempts to give some of the types of financial accommodation and facilities that may be provided.
The terms are given as a guide, and are therefore subject to change as dictated by the market conditions and lending portfolio requirements.
Overall flexibility can be provided by a combination of some of the various types of financing listed, and perhaps provide new avenues of financing for quality projects not necessarily falling within the perimeters outlined.
We accept loan applications of Five Million ($5,000,000) US Dollars upwards.
2.02 CONSTRUCTION LOANS BACKED BY PERMANENT COMMITMENT
The period for this type of financing is generally governed by the terms of the permanent commitment loans, however, as a general rule, such financing extends up to a term of three years and on some occasions to five years. The rates of interest vary with the market conditions and amount involved, with the rate being charged at a percentage amount over the Eurodollar Interbank Rate.
2.03 STANDBY COMMITMENTS
Arrangements may be made for the provision of Standby Commitments to provide for permanent financing. Such commitments are usually written and formulated upon terms that do not envisage that a drawdown and takeout would prove to be attractive to the borrower for any substantial period of time. Such commitments are widely utilised, however, to permit construction and interim financing on projects which it is inappropriate to arrange concurrently the ultimate permanent financing, specifically in connection with International developments involving foreign exchange transactions and regulations.
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