Generous Construction Lenders

Can anyone advise of lenders currently with generous serviceability? No current properties, basic PAYG with no credit card. I do have a small margin loan with shares which would be the only item that may differentiate serviceability between lenders.

I'm several months out from settlement so dont want to waste too much time with a broker currently (will look to engage 2-3 months from settlement).

Thanks1

 

Define generous?
For your scenario there won't be much variation between lenders, best engage a broker sooner rather than later too.

 

To figure out which lender you service best with, you need to engage a broker and get specific advice.

Realistically I agree with Lindsay. There's not going to be much variation between most lenders because the scenario is quite basic.

 

Generous in my scenario would be borrowing capacity. I assume the treatment of margin loans/dividend income and how this is different between lenders will be the main point of difference between borrowing capacity of lenders for my situation.

 

Possibly a small variance in borrowing capacity.
I'd honestly suggest speaking to a broker now, it's generally a good idea to work out if you can afford to borrow what you need prior to signing up for any purchase, especially off the plan stuff that requires 10% deposit at the time of signing the contract, not sure if that's the case here?

 

Thanks I guess I'll proceed with engaging a broker.

Vacant land purchase, and have pre-approval with CBA. This will lapse by the time i settle though (6 months away) however I'm looking to organise building contract prior to settling so I don't have to reapply for finance/can commence construction soon after settlement. I guess I'll get a broker to do the hard work for me

 

Not too hard or much effort required on the brokers behalf so don't assume that you would be wasting their time - It's nice that you are concerned with the fact though, as most aren't