We have assisted many clients obtain finance for vacant land and every case is different, each with their own little challenges. We are here to help you through!
In this particular case, a developer had a rebate of $5,000 in which was to be paid to the land owners to assist in landscaping the property.
All good, right? That would help with finance, or so you would think!
It did cause an issue with the clients bank at the time as they wanted to reduce the value of the property by $5,000, which would then upset their loan application from a ‘Loan to Value Ratio’ perspective. We stepped in and were able work with the client and assist with his predicament, we found a new lender, made the situation clear to the new loan provider and they accepted the contract price of the property.
The clients have now secured their block of land and we can’t wait to help them with the build.
Contact Us as we’d love to help you build you new dream home.