Development Savvy Mortgage Brokers

Hi,

Im after a Mortgage Broker that has extensive experience in Development Finance.

Developments predominantly in ACT or NSW.

Any help would be great, ill also want to speak with previous clients.

 

What kind of developments? How big?
Once over a certain size it becomes Commercial lending or Private funding

 

HI Lindsay_W,

Looking from 2-6 mill, small townhouse/unit developments

 

Cool - what type of property are you looking to develop? Units, townhouses, houses, commercial or something else?

 

sorry I edited my first post, small townhouse/unit sites. currently doing 5 separate title terraces

 

All good, the more info the better, as the type and size of dev you're wanting to do will determine what funding options are available to you

 

@Shahin_Afarin is rather experienced in this space i've been told.

 

What is private funding? How does it work?

 

@Morgs is a NSW based mortgage broker, property developer and business member

 

There are variety of Private lenders ranging from mum and dad style lenders who have a couple of quid and believe it is a get rich quick way of making a return to a Family office lending their own funds to an ASIC regulated approved fund that is under continous audit disclosure etc

In the main they offer an equity based Non Coded loan with an interest rate geared to risk rather than requiring evidence of servicing. Mostly this type of lending lends itself to short term solution based loans due to the higher interest rate and more expensive establishment costs. They can be for first or second mortgage loan requirements.

Cheers


Richard

 

Is it available via mortgage broker? Who usually is the point of contact if one decides to go down this path?

 

All of our Private loan applications come thru our broker channel as we are on the panel of 4 existing Aggregators and just been appointed to AFG panel. Can't comment for other Private Lenders.

Of course a broker is going to add his fee to the deal as well if you go that route.

Cheers


Richard

 

Some private lenders will only deal via their broker channel, others are less restricted but could potentially be riskier, there are a LOT of sharks in the Private Lending space

 

So so true. Just off the phone after a 2 hour AFCA conciliation meeting with a borrower who was badly stung by a unregulated Private lender before we refinanced the deal.

Cheers


Richard

 

Can u provide the link of your website?

 

www.ascf.com.au