Currently in process of building a new PPOR and seeking construction finace will have LVR of 42% however have been informed cannot borrow for new onvesment property till new build finishedis it just too messy to do this? How can I get around this as I dont wish to hold till end of year to secure another investment property?
Any opinions or ideas would be appreciated…
Hi Lesley
Difficult one to provide you with a structured response without further hard data.
Are you using equity in the PPOR as deposit for the IP ?
At what stage is the construction at and is it being done thru a Registered Builder.Probably 101 more questions but having received a record number of applications in today i am having an early night catching up on some reading.
Feel free to drop us a note if you want with some actual numbers and i can tell you whether it can be done or not.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
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