Lend Lease Communities (Australia) Ltd - Notification - N97120

Applicant(s)

  • Lend Lease Communities (Australia) Ltd

Notification number(s)

  • N97120

Summary

Lend Lease proposes to supply, or offer to supply, allocated lots at Mayfield (Cranbourne East, Victoria) on condition the purchaser enter into a building contract with a specified builder to construct a dwelling on an allocated lot for a fixed price. The purchaser will also be required to enter into an agreement with a nominated mortgage broker or manager pursuant to which the mortgage manager will arrange for the purchaser to borrow from a specified lender a loan in an amount sufficient to fund up to 95% of the value of the purchase price of the allocated lot and the construction cost of the dwelling. Lend Lease and the preferred builder will fund the interest payable by the purchaser on that part of the loan which has been drawn down until the earlier of the date practical completion of the dwelling has been achieved or the occupancy permit of the dwelling has been achieved.

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ACCC correspondence

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