FINANCE FOR CONSTRUCTION/DEVELOPMENT CLIENTS
Development / Construction Finance
Why use PMA to finance your client’s development or construction:- They need to construct a project but a ‘traditional lender’ won’t approve the loan
- They’re looking to develop up to four residential units or lots with a loan amount of up to $5M
- They’re looking for a loan secured by a 1st Mortgage
Development/Construction Finance Loan Terms
Loan Amount
Up to $5M
LVR
Up to 70% of the ‘as if complete’ value (max. LVR of 70% for major metro residential property, other security at lower LVRs)
Security
1st Mortgage
Term
Up to 18 Months + Extensions
Development/Construction Finance
If your client is a property developer seeking funds to settle on a development site or get a building project off the ground, you’ve come to the right place. Private Mortgages Australia specialises in short-term development or construction finance used to finance a building or a real estate project.
Construction Finance for a development project can be complex and requires a lender that can think outside the box when providing crucial finance options for developers. Private Mortgages Australia understands the long-term goal is to realise maximum value at project’s end. Each development project is unique and a borrower may require a special facility that provides flexibility on progressive drawdowns, repayments and redraws.
PMA assists developers that may, for whatever reason, find it difficult to access project funding from mainstream sources. The nature of these projects can vary and include a small mixed-use development to multi townhouse developments.
Lending Process
Complete our
Quick App Form
or
Give us a call
1300 856 683.
After receiving the Application we’ll develop an Indicative Letter of Offer which includes an indicative interest rate.
Once the Offer is accepted a small assessment fee is charged to cover the searches we do in due diligence.
Once we’ve completed our due diligence, we’ll send a formal Letter of Offer. Once signed the loan documents are drawn up and sent to the Borrower’s solicitor.
