All Topics / Finance / can I borrow on a a new build future value?

Viewing 2 posts - 1 through 2 (of 2 total)
  • Profile photo of shanemattshanematt
    Member
    @shanematt
    Join Date: 2008
    Post Count: 70
    April 26, 2010 - 8:05 am

     I have a property that I want to knock down and rebuild.Will a bank lend on the properties completion value,especially if its going to worth a lot more?

    Is this called a construction loan or something?

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    April 26, 2010 - 9:32 pm

    Not normally in the residential sphere but yes certainly in Development terms.

    Issue with knocking down a single dwelling is that the Bank will probably only lend against the land value which maybe less than the initial purchase price.

    Richard Taylor | Australia's leading private lender

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.