Dear Members,

As the year is coming to a close, lending parameters are tightening noticeably – especially for the those in the building industry. Therefore, please find some non-standard loans still available from banks, non-banks and private funders.

In this environment, do not risk your financial future by going directly to a bank; we urge you to consider using Master Builders Financial Services for all your lending requirements.

Do not take the below loans as specific advice, as your specific situation has not been taken into consideration.

Kind regards,
Harry Pontikis – Manager
Master Builders Financial Services
Australian Credit License 387277

Property development loans from banks

• Full doc
• Up to 75 per cent of Total Development Cost (TDC) (reduced from 80 per cent last month)
• Up to 60 per cent of Gross Realisable Value (GRV) (reduced from 65 per cent last month)
• Minimum 100 per cent debt cover in pre-sales (case by case) (increased from 75 per cent last month).

Mezzanine funding options

• Up to 90 per cent of TDC
• Up to 80 per cent of GRV
• Pre-sales requirements in line with the senior debt provider.

Private Funding Options

Low-doc Construction Finance (NO PRE SALES OPTIONS)

• Up to 85 per cent of Total Development Cost (TDC)
• Up to 75 per cent of Gross Realisable Value (GRV)
• Current Rate from 8.95 per cent pa but ‘rate for risk’ policy applies
• Loan amount up to $30M
• No Financials required
• No Pre-sales
• No Pre-sale options available
• Developers with adverse credit history also considered
• Incomplete projects considered
• Most commercial applications will be considered.

Second mortgage loans

• Privated Funder
• Any non-regulated / non- consumer purpose OK
• Loans up to $500k
• All fixed interest rates from 17 per cent up to 20 per cent
• Individual circumstances and ‘exit strategy’ critical
• two to five year loan terms
• Residential, vacant land, industrial and commercial properties OK
• Self-certified income verification (low doc)
• No cash-out restrictions

There are many loans available for self-employed applicants including low-doc, fixed rates and cheap variable rate home loans. Contact Master Builders Financial Services for advice to suit your situation on 1300 137 539.