Terms and Conditions
VHG – “Interest Cover Promotion” – Terms and Conditions
- This Interest Cover Promotion (Promotion) is available to customers that sign a building contract with the “Ventura iD” or “Multi Living” brands of the Ventura Home Group Pty Ltd (each, the Builder) on or after 22/08/2017. The Promotion will end on 22/11/2017 or such later date as determined by the Builder in its absolute discretion and without prior notice (End).
- To take advantage of this Promotion, when you are discussing your building contract with the Builder, you must inform the Builder that you wish to participate in the Promotion, and you must execute a building contract for the actual construction of a dwelling with the Builder between the Start Date and the End Date.
- Customers that have only executed a preparation of plans agreement and not a building contract before the End Date will not be eligible for the Promotion.
- This Promotion is not available for use in addition to, and cannot be used in conjunction with, any other special offer, promotion, special arrangement or discount that the Builder may concurrently have on offer or available to you from time to time.
- The Builder has estimated the anticipated interest costs that will be incurred under a building loan at generally available rates (as of August 2017) from major lenders, its own assumptions about a standard building loan and based upon its own assumptions about the usual construction periods and progress payments. The estimation made is a general estimation, and it will only be tailored to you by reference to the value of the building contract you sign with the Builder.
- This Promotion, and the estimation the Builder makes about the interest costs you may incur, do not cover or take into account any interest you may incur on any loan or finance you may obtain or you require in order to purchase the land on which you will be building, or for any costs other than your building contract price with the Builder.
- If you are eligible for the Promotion, your building contract will include provision for a rebate the Builder will provide to cover the estimated interest costs. The total value of the rebate the Builder will provide you will be calculated upfront, and it will be identified in dollar terms as a special condition in the building contract you sign with the Builder. The dollar value of the rebate will be as follows:
- 2% of the building contract value for single story dwellings under construction in a single contract for a site with up to three units; and
- 2.7% of the building contract value for two story dwellings, class 2 buildings or 4 or more grouped dwellings under construction in a single contract for a site.
This special condition will specify that you will receive the rebate specified in your contract as a one-off lump sum within 10 days of Ventura Homes Group Pty Ltd receiving progress payment for the slab down, and it will also stipulate if you breach your building contract with the Builder, any rebate the Builder has paid to you will be a debt that you must repay to the Builder in full and upon demand. The special condition will also include other terms required to properly reflect the terms of this Promotion.
- The actual interest charges you incur on your building loan may be more than the Builder has estimated and specified in your building contract for various reasons, such as: your lender charging you higher interest rates, interest rates rising before or during your construction period, your construction period being or becoming longer than usual or assumed for the purpose of the rebate calculation for any reason (for example because of delays, or because of unusual aspects of your development). The actual interest charges you incur on your building loan may be more than the Builder has estimated and specified in your building contract, the Builder is not obligated to, and does not agree to, increase the interest rebate it provides you and you cannot claim the extra interest you incur from the Builder.
- If the actual interest charges you incur on your building loan are lower than the Builder has estimated, you will still receive the rebate the Builder has specified in your building contract, and you do not need to return any of the extra money the Builder pays to you and the Builder has no claim to that extra money.
- You will be responsible for any tax implications of the rebate provided to you.
General Terms & Conditions
Ventura iD give notice that:
- all information given whether contained in this website, downloadable documents or given orally is given without responsibility and no express or implied warranty is given as to their accuracy and is not intended to form part of any contract;
- interested parties should satisfy themselves as to the truth or accuracy of all information given by making their own inquiries, inspections, searches and taking their own advice or as is otherwise necessary;
- All information provided on the website is for general information only and may not be completely accurate in every circumstance. Please seek professional advice for information specific to your individual circumstances;
- Any Ventura Homes promotions are not affiliated in any way to Ventura iD.