All Topics / Finance / New House and Land – Financing help needed

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  • Profile photo of kerrcorpkerrcorp
    Member
    @kerrcorp
    Join Date: 2003
    Post Count: 15
    February 28, 2006 - 6:59 am

    Hi forum guru’s..

    I am looking at buying a block in a new subdivision and building.

    Some new subdivisions have amazing finance packages set up so that you have to put very little money in as long as you build with a certain builder etc. The developer is not offering any finance package to build.

    Does anyone know of a lender that will suppply a similar package or can you only get these ‘great deals’ when they are set up by the developers?
    thanks
    Michelle

    Profile photo of MortgagemanMortgageman
    Participant
    @mortgageman
    Join Date: 2004
    Post Count: 164
    February 28, 2006 - 7:35 am

    Hi Michelle,

    There are are a couple of lenders that offer construction loans up to 107.5% LVR. These can get quite expensive, however. If you have enough to cover expenses you can get 100% construction finance at reasonable rates.

    Kind Regards,

    Cameron Perry
    Finance Consultant
    Perry Financial Strategies
    Level 13, 30 Collins St
    Melbourne VIC 3000
    Ph (03) 9662 1999
    Fax (03) 9662 2044

    True No Doc 70% LVR from 6.99%
    Non Recourse Commercial loans 65% from 7.1%

Viewing 2 posts - 1 through 2 (of 2 total)

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