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Best Melbourne Brokers is determined to make construction finance easy for you. We are proud to be partnering with a number of reputable builders to support their clients in the process.
Construction finance is not the typical loan application most bankers and brokers come across everyday. It pays to engage someone more experienced like ourselves to handle the transaction for you.
From organising stamp duty discount, first home owners grant, builder’s contract documentation, land title registration, council plans and specifications, builder’s risk insurance, low deposit loan products, staged valuation, progress payments and occupancy permits etc. you want to be assured you have the right broker on your side to handle all these processes for you.
Your typical progress payment schedules will have 5-6 milestones during the construction period. For example:
During each stage above, the lenders or ourselves may organise 3rd party valuation/inspections to make sure the build quality is of the highest standard as prescribed.
It is in ours, the lenders and your best interest, to have good quality built house as security for the mortgage and for yourself to live or invest in.
Beyond the typical construction finance, Best Melbourne Brokers are also able to look at various development finance options. Common scenarios include multiple dwellings on one title, owner builder, larger scale development with pre-sales, and private funding.
Private funding is very common in the developers industry, where criteria for approval can be much less stringent considering the developers experience, equity in property, net worth etc. We understand that not all developers have the necessary taxable stable income to demonstrate to banks.
Regardless of your scenarios or source of funding (apart from private funding), our consultation and services are free. Any applicable charges will be directly from the lenders only.
