Absolutely subject to the amount equity available in each property. Just make sure that the loans are standalone and the purposes are not contaminated. 

The response your question is lengthy and complex. It is one of those things where you need to have the conversation over the phone rather than "Typing".

Here is a quick summary:

1. Refer to the points on the DA and the expiration of the DA. This will tell you how easy, difficult, cheap or expensive it will be to ascertain the CC

2. Do a feasibility study to determine if the numbers stack up. This will include costs outside of the construction such as contribution costs, GST, etc

3. From a finance perspective you wold be looking at a commercial loan rather than a residential loan so you need to understand LVRs, deposit amounts, etc

Where is the property located?

We don't have any financial details (nor should you put it up) so it is impossible to say.

Best to get a second opinion from another broker. There are many ways to structure an application in order maximise an investor's serviceability (particularly one thats self employed).

Also lenders dont hate self employed – they just require more information. I just had a loan formally approved in 2 days with a second tier lender for a client that was self employed overseas!

There is also a tiny bit of movement on fixed rates which is great. This just spells more competition……

You need to go to the council's website and ascertain their DA Guide. If there isn't one available on their website then you will need to call the council. 

They will give you the details on zoning, minimum dimensions, land size, etc.

You are at a 95% LVR so please don't apply around with different banks unless you are 100% sure of the plan ahead. Also choose a product that will support your strategy longer term. For example, you may want to build 3 dwellings on the property in 3 years time – so you don't want to choose a lender today that does not accommodate that.

Ascertaining finance prior to the 28th August is not an issue but again you don't want to have multiple hits on your credit file.

Also lets see what happens on Tuesday – the buzz is that rates are going to drop. 

I know this is a completely biased statement but I really don't understand the point of online comparison websites. 

What is the point of going with lender A that has the cheapest rate but you cannot fit in their policy due to LVR, Security Type, Age and dozen more criteria?

What's the point if you do not service with that lender?

Also do they tell you how to structure your application in order to enable future purchases efficiently?

Different lenders will lend different amounts of money with say a lender like bankwest being on the lower end of the spectrum and NAB being on the higher end.

If we make certain assumptions (like you have no dependents, etc) then you will be looking at around the $700,000 mark for a lender with a more generous servicing calculation.

Are you able to put the bedroom on the other side? I personally don't think its a good idea to have a bedroom in front of a kitchen. I would also create a space between the living area and bedroom (perhaps a storage area) so that there is some privacy for that bedroom.

Most brokers are mobile – Jaime from the forum is in ACT and im sure can help you out.