4 Townhouse Project finance

Discussion in 'Introductions' started by dev_melb08, 9th Jun, 2017.

Join Australia's most dynamic and respected property investment community
  1. dev_melb08

    dev_melb08 Well-Known Member

    Joined:
    9th Jun, 2017
    Posts:
    52
    Location:
    Melbourne
    Hi, in current market with banks getting regulated, looking for suggestions as to which bank/broker to approach if I want to build 4 town houses under company structure (property bought under company name) and keep it residential loan only.

    I have bought the land and looking for finance and in parallel getting town planning done.. Will be ideal to get it financed with bank/lender who allows above, as I will try to avoid going to bank post town house approvals with 4 townhouses only to find that they do it as commercial. I know NAB only does 3, ANZ 2 and like wise.

    Anyone facing similar delima ?
     
    dev_melb08, 9th Jun, 2017
    #1
  2. MTR

    MTR Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    27,859
    Location:
    My World
    RAMS Lo doc, used this product for my 4 townhouse development in Thomastown/Melb, excellent product, resi and no jumping of hoops

    Read/search my posts on this

    MTR
     
    MTR, 9th Jun, 2017
    #2
  3. 380

    380 Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    1,353
    Location:
    Australia
    380, 9th Jun, 2017
    #3
    MTR likes this.
  4. dev_melb08

    dev_melb08 Well-Known Member

    Joined:
    9th Jun, 2017
    Posts:
    52
    Location:
    Melbourne
    For what I have been told by brokers, bankwest does not like company structure ? Btw what is the third option ? RAMS, Bankwest and .. ?
     
    dev_melb08, 9th Jun, 2017
    #4
  5. dev_melb08

    dev_melb08 Well-Known Member

    Joined:
    9th Jun, 2017
    Posts:
    52
    Location:
    Melbourne
    Thank MTR..! great.. will do
     
    dev_melb08, 9th Jun, 2017
    #5
  6. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,254
    Location:
    Sydney or NSW or Australia
    The magician ;)
     
    Scott No Mates, 9th Jun, 2017
    #6
  7. 380

    380 Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    1,353
    Location:
    Australia
    @Shahin_Afarin is a finance broker/ property developer and pretty much handled all our townhouse development finance!
     
    380, 10th Jun, 2017
    #7
  8. dev_melb08

    dev_melb08 Well-Known Member

    Joined:
    9th Jun, 2017
    Posts:
    52
    Location:
    Melbourne
    Ahh.. thanks mate.. ! Will contact him first thing next week
     
    dev_melb08, 10th Jun, 2017
    #8