Hi guys, We have a 3 unit townhouse development in Melbourne East that recently received a NOD from the council. I am also going to start on the Plan of Subdivision next. There is a 40% LVR on the property that is to be subdivided and torn down. My question is when do we need to notify the bank our intentions? Do I do it now? Hope I am right but they should be happy for me to ahead hopefully? Since the LVR is low and they have 3 properties instead of 1 potentially. Thanks.
When title needs to be changed. But also before that if you will be doing anything that effects their security such as demolishing a house on the land.
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