One of people’s most romantic dreams is to build their perfect home or investment property in the perfect location. When you’ve found that block of land, the only hurdle you face is how to finance buying the land and construction. If you get the financing wrong, it could undo all your best laid plans.
How To Finance Land And Construction?
There are two main factors when considering land loans:
- Type of land
- Restrictions on building
The thing is, even though you may have found the perfect block of land you might not want to build on it straight away. But with the wrong land loan you could find yourself forced to refinance. The major banks and other lenders are tough with their restrictions on land loans, so getting the right lender and the right product requires deep knowledge of the market.
We have wide and deep access to the lenders offering land loans, and our research shows restrictive clauses such as:
- Time limit on building starts
- Locational restrictions
- Loan amount limits
Depending on the land you want to finance, you’ll need specialist knowledge to find the best land loan for you. We specialise in all land loan niches, including:
- Land loans with no requirement to build within a few years
- Acreage loans available (up to 50 hectares or 123 acres)
- Rural land loans where the zoning is not residential
- 95% for land loans based on the property value
Whether your land is a small suburban block or a large rural acreage, we’ll take the strain from you and use our expertise and market reach to find the best land loan from the hundreds available across Australia.
Contact Building Loans Australia today to discuss your requirements. With the best advice, securing your perfect location for your dream home or investment property is now within reach.