Property is in townsville mt low, 4818. So it can be done straight residential loan. If I am correct if the value of the property is $400k when finished asking price is $295k we should be able to borrow 100% of asking price plus additional to do some reno's as long as valuations stack up. We can get first home owners grant as well. Savings are good and serviceability is fine. It is being sold through an agent.

The real problem we have with this deal is being able to do the reno's ourselves, we are fine with doing structural work through tradesman, but would like to do cosmetic work ourselves but the banks are saying they wont give us the money to do it and will only release the funds to a builder.

thanks for any help

jayson