Terms & Conditions

12 Month Interest Promotion

  1. Promotion
    Marigold and Botania estates pay your interest
  2. Promoter
    Growland Group Pty Ltd
    Level 27, 150 Lonsdale Street
    MELBOURNE VIC 3000
  3. Definitions
    Promotion Period means the period commencing 9.00 am AEST on 10 February 2020 and ending on 5.00 pm AEST on 30 June 2020

Botania Estate refers to the development situate at 1152-1147 Taylors Road, Plumpton in the name of 1152 Taylors Pty Ltd and developed by Growland Group Pty Ltd.

Marigold Estate refers to the development situate at 1030 Doherty’s Road, Tarneit in the name of Growland Green Pty Ltd and developed by Growland Group Pty Ltd.

Incentive refers to the monthly interest payable for the first twelve months of the Loan calculated on the Interest Rate
 
Interest Rate means an interest rate payable on a home loan package available from a Qualifying Bank.

Loan refers to the loan obtained by the participant from a Qualifying Bank secured as a first mortgage on the Qualifying Land for the purposes of purchasing and settling the Qualifying Land on the Settlement Date.

Qualifying Bank refers to Commonwealth Bank of Australia, Westpac Banking Corporation, Australia and New Zealand Bank Ltd and National Australia Bank

Qualifying Land refers to the following
All residential lots available for purchase during the Promotional Period in stage 1 and 2 of Marigold Estate and Stage 1a and 2a in Botania Estate for a listed purchase price not exceeding $380,000.00.

Qualifying Contract of Sale means a contract of sale duly exchanged between the vendor and the participant which :
(a) Entered into on or after 10 February 2020 and before 30 June 2020;
(b) is unconditional and the purchaser has not exercised any right to cool off;
(c) for a purchase of a Qualifying Land; and
(d) the purchaser has paid the 5% deposit in clear funds.

  1. Participant
    (a) New purchasers of Qualifying Contracts of Sale are permitted to participate in this promotion.
    (b) Each participant, is eligible to participate as :
    i. an individual or multiple individuals; or
    ii. an entity 
    that are
    i. purchasing the Land for non retail residential use; and
    ii. has entered into a building contract with a non related builder to build on the Qualifying Land within 30 days of the Settlement Date .
    (c) Where the participant is an individual or multiple individuals: 
    i. each individual must be 18 years of age;
    ii. each of the individual must be a person who is lawfully entitled to reside in Australia permanently. 
  2. Incentives
    (a) The Incentive payable shall be calculated as follows : 
    i. Interest Rate payable in the first six (6) months of the Loan on the lower of :
    i. 70% obtained on a contract price not exceeding $380,000.00;
    ii. The actual loan amount obtained by the participant;

ii. Where the participant obtains a Loan from a financier or financial institution other than a Qualifying Bank, the Promoter, at its sole discretion may determine the interest rate payable , having regard to the Interest Rate at the time of settlement 
(b) The Promoter will pay the Incentive per month and each month in arrears for a total of twelve (12) months calculated from Settlement Date subject to receipt of the loan statement.  The Promoter will provide a monthly payment date to the participant and arrange for funds to be deposited into the participant’s nominated bank account each month for a total of 12 months.

(c) If the participant completes the building works within twelve (12) months, the participant will continue to receive the Incentive until 12 months is completed.

(d) If the participant does not complete the build within 12 months, the Incentive will cease at the end of 12 months.

(e) The Promoter may cease payment of the Incentive at any time by giving 7 days written notice if the participant fails to commence building works on the Land within 60 days of the day of sale.

(f) Each of the Incentive is not transferrable, exchangeable or redeemable for cash.

(g) If any of the Incentive is unavailable for reasons beyond the Promoter’s control, the Promoter reserves the right to substitute the Incentive with an incentive of equal or greater monetary value. This right is subject to any applicable legislation, regulations or directions from a regulatory authority.

(h) All taxes which may be payable as a consequence of receiving an Incentive are the sole responsibility of each participant.

  1. Limitation on Incentives
    (a) The Participant acknowledges that the Incentive may be less than the actual monthly instalment payable under the Participant’s loan or that the Incentive may be paid after the due date of payment under the loan. It is the Participant’s sole responsibility to ensure that the Participant has sufficient funds to pay the monthly instalments due and payable on the due date under the loan. The Participant indemnifies the Promoter for any loss, damage or liability that may arise as a result of the Participant being in default of the participant’s loan.
    (b) There is only one Incentive available for each contract of sale. Where a participant is a multiple person participant, then the Incentive will be offered jointly to all such persons.
    (c) Participants who:
    i. At the start of the Promotion Period, have accepted or exchanged contract of sale for a Qualifying Land; and
    ii. During the Promotional Period, cancel or terminate such contract of sale
    Are not eligible to receive an Incentive. 
    (d) This Incentive is not available in conjunction with any other offer.
  2. Eligibility
    (a) The participant must settle on the Settlement Date stipulated in the contract of Sale. If the Participant delays settlement or defaults under the Contract of Sale, the Participant is automatically disqualified from receiving the Incentive.
    (b) The Promoter reserves the right, at any time, to request verification of age, identity, residential address or any other information relevant to participation in the Promotion of all participants. The Promoter reserves the right to disqualify any participant who provided false information or fails to provide information that is reasonably requested by the Promoter.
    (c) The participant must provide the monthly loan statement within 7 days of receipt from the financier to the Promoter without demand. The Promoter reserves the right to disqualify any participant who fails or refused to provide the loan statement to the Promoter.
    (a) It is the participant’s responsibility to notify the promoter of any change in their contact details. 
  3. Marketing
    Each participant agrees to participate, cooperate, as required, in all publicity activities relating to the Promotion, including, without limitation, being interviewed, photographed, filmed and recorded. Each participant authorises the Promoter to use such content for advertising and publicity purposes in any media worldwide.