Feb 15, 2021 11:38 am
My husband and I have a house. We want to purchase land and build a duplex. Our house doesn’t have much equity. We do have a 5% cash deposit towards the duplex loan. Has anyone found a lender who lends up to 95%. Also can you get a loan with a clause of selling one of the duplexes upon completion? We are going to do a strata title to seperate the titles to sell them seperately. We want to live in one for a year then sell that one aswell. Just wondering how we go about getting 1.5mill finance without having to sell our home we are in now?! We owe under 80% to the bank..
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ssrmLow valuation for new build construction loanLow valuation for new build construction loan
Hey Zoltaire, We're in the same situation. Building in Harrisdale, ~230 sqm, builder quoted $315k, valuation came at $288k. Reasonably good spec which bank thinks…