Knock down rebuild mortgage advice

Discussion in 'Introductions' started by MSLEVIN, 6th Jun, 2021.

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  1. MSLEVIN

    MSLEVIN New Member

    Joined:
    6th Jun, 2021
    Posts:
    1
    Location:
    Kiama
    Hi all,

    New to the property chat. So my wife and I are looking at doing a knockdown rebuild is there any banks out there that you know of that gives a mortgage of the final price out the house so the value it would be when finished? I think its common for them just to do land value and equity

    Thanks
    Michael
     
    MSLEVIN, 6th Jun, 2021
    #1
  2. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    10,629
    Location:
    Gold Coast (Australia Wide)
    Pretty much all lenders will lend to what the valuer comes up with

    If the value is x and is met by land and improvements value, standard LVRs apply subject to the usual verifications

    ta
    rolf
     
    Rolf Latham, 6th Jun, 2021
    #2
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