Best Broker suited for Development Finance

Discussion in 'Loans & Mortgage Brokers' started by Peter Toma, 21st Jun, 2017.

Join Australia's most dynamic and respected property investment community
Tags:
  1. Peter Toma

    Peter Toma Active Member

    Joined:
    5th Jun, 2017
    Posts:
    40
    Location:
    Sydney
    Hi All, I just wanted to get some feedback / recommendations for mortgage brokers who specialise in development finance?
    I am based in Sydney - not sure if anyone has had any experience with brokers that are not local (I guess with things like email & Skype, shouldn't be too much of a show stopper)

    Pete
     
    Peter Toma, 21st Jun, 2017
    #1
  2. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

    Joined:
    18th Jun, 2015
    Posts:
    6,684
    Location:
    Perth WA + Buderim Qld
    What kind of development? Are you looking at commercial or resi?
     
    Jess Peletier, 21st Jun, 2017
    #2
  3. Peter Toma

    Peter Toma Active Member

    Joined:
    5th Jun, 2017
    Posts:
    40
    Location:
    Sydney
    Hi Jess,
    Looking at Residential developments - most likely Dual Occ at the moment - if anything pops up larger then we'll see how we go.
     
    Peter Toma, 21st Jun, 2017
    #3
  4. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

    Joined:
    18th Jun, 2015
    Posts:
    3,979
    Location:
    Canberra, Brisbane and Sunshine Coast
    Dual occ resi isn't overly complex - most brokers should be able to assist.

    Cheers

    Jamie
     
    Jamie Moore, 21st Jun, 2017
    #4
    Terry_w and Peter Toma like this.
  5. Peter Toma

    Peter Toma Active Member

    Joined:
    5th Jun, 2017
    Posts:
    40
    Location:
    Sydney
    No Worries Jamie, thank you
     
    Peter Toma, 21st Jun, 2017
    #5
  6. Corey Batt

    Corey Batt Well-Known Member

    Joined:
    14th Jun, 2015
    Posts:
    2,091
    Location:
    Adelaide, SA
    Agreed - almost every lender treats that the same as a normal house and land construction, you shouldn't have many problems with that.

    Once you crack at 3-4+ properties the options start to limit and above that is generally commercial development finance which is a completely different ball park. To get to that point you'll generally be wanting to have done some smaller projects first before lenders are willing to look at you.
     
    Corey Batt, 21st Jun, 2017
    #6
    Peter Toma likes this.
  7. Peter Toma

    Peter Toma Active Member

    Joined:
    5th Jun, 2017
    Posts:
    40
    Location:
    Sydney
    Thanks Corey for the feedback - good to know how the banks think with these things!
     
    Peter Toma, 21st Jun, 2017
    #7
Buy High Growth Property WITHOUT Buyers Agents!