Was just wondering what kind of finance I can get from the banks if one wanted to purchase land only without a building contract?
Is it possible to get finance for land only purchases?
Thanks
In a nut shell Yes you can get finance for land only purchases.
Good Luck with your plans.
Regards
http://www.owner.com.au
http://www.owner.com.au/phototour/listing_phototour.cfm?listingid=20440
http://www.owner.com.au/phototour/listing_phototour.cfm?listingid=21772
http://www.owner.com.au/phototour/listing_phototour.cfm?listingid=22315Hi Vernon
On the basis that the land is residential and normal size block then you would be able to get upto 97% LVR assuming that you intend to build on the block within 12 months.
If not then i will probably be down to 90%.
If you have a block in mind and you want us to check it out to ensure the post code is acceptable then please email me.
Cheers Richard
Ph: (07) 3720 1888
[email protected]
http://www.yourstatefinance.comIP funding and US property finance
our specialityRichard Taylor | Australia's leading private lender
Hi everyone I have asked around and found out the range of lending from various banks to be between 70% or purchase price (if I obtain finance to buy the vacant land) and 90% of purchase price if I intend to build and can provide a builder’s contract.
Cheers
Vernon
Don’t think you are talking to the right people.
Cheers Richard
Ph: (07) 3720 1888
[email protected]
http://www.yourstatefinance.comIP funding and US property finance
our specialityRichard Taylor | Australia's leading private lender
Originally posted by Qlds007:Vernon
Don’t think you are talking to the right people.
Cheers Richard
Ph: (07) 3720 1888
[email protected]
http://www.yourstatefinance.comIP funding and US property finance
our specialityHi Richard,
Can you then direct me to the right people to whom I should be speaking to?
Thanks!
Richard is the right person
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Originally posted by Terryw:Richard is the right person
Terryw
Discover Home Loans
North Sydney
[email protected]Thanks, have just discovered that! [biggrin]
Originally posted by Qlds007:Hi Vernon
On the basis that the land is residential and normal size block then you would be able to get upto 97% LVR assuming that you intend to build on the block within 12 months.
If not then i will probably be down to 90%.
If you have a block in mind and you want us to check it out to ensure the post code is acceptable then please email me.
Cheers Richard
Ph: (07) 3720 1888
[email protected]
http://www.yourstatefinance.comIP funding and US property finance
our speciality*************************************
Dear Richard and Terry,1. Hmm..Interesting. 90% -97% LVR loan for the land purchase.
2. From which lending institutions and at what loan terms and conditions, are such loans available from? What’s about borrowings by non-resident foreign investors?
3. Can you please help me check out the LVR for loan to purchase vacant land plots in Rockingham (WA6168) and ShoalWaters(Wa 6169), please.
4. Looking forward to your kind assistance,please.
5. Thank you.
regards,
Kenneth KOHKenneth
There is a range of institutions that will lend 90% plus for land on the basis that you intend to build on the lot within 12 months.
If not then land only normally 90% LVR.
One or 2 go to 100% on construction capitalising the mortgage insurance to a level of 107%.
I have just done 90% on a block on Rockingham for a client. That would include non foreign residents who are Australian Citizens.
Cheers Richard
Ph: (07) 3720 1888
[email protected]
http://www.yourstatefinance.comIP funding and US property finance
our specialityRichard Taylor | Australia's leading private lender
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