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  • Profile photo of DogigityDogigity
    Member
    @dogigity
    Join Date: 2010
    Post Count: 3
    April 7, 2010 - 5:23 am

    Terrw and WhatIfWeFinance

    Thank you for your replies and information, this helps me to budget

    Dogigity

    Profile photo of DogigityDogigity
    Member
    @dogigity
    Join Date: 2010
    Post Count: 3
    April 6, 2010 - 4:40 am

    OK, so you are saying that no lender would finance it as two individual titles as if it were completed?

    My idea is that upon completion the two lots would be worth 400k for the front and 460k for the back
    Therefore total value at completion is 860k
    Borrow against it at 80% LVR to finance construction
    So in total I want to borrow 688k
    If I pay out the existing loan of 376k, I am then left with 312k to do the construction.
    Am I right or will no lender look at it this way?

    Diggity

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