Hello! I am hoping for some advice from experienced owner builders.
Our plans are in council to extend our existing house and we contacted our bank about finance and have become a bit disheartened (wish to go owner builder as husband is a carpenter of 20 years + we have a wealth of tradespeople friends we would like to assist with our job).
Can anyone recommend a bank that is willing to lend to owner builders these days? Or should we be looking at a broker?
Have any owner builder carpenters been in our situation in regards to finance and completed a speedy course to obtain their builders licence? If so, any recommendations?
Could we get a builder friend to assist with ticking boxes to obtain finance?
Any advice/ comments are appreciated!
Thank you,
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Browse Forums Owner Builder Forum  13 Mar 2015 11 WA Junior Member Re: Advice for Owner Builder Finance 2Sep 10, 2015 10:34 pm NAB can give you up to 80%. Westpac up to 60%. Brokers can find you more flexible lander but for higher - up to 10% interest. After completion you can refinance with one of the big banks for lower interest rate. Hope this helps. Good luck. Hi , Great questions! For a positively geared investment property, lenders still assess serviceability using shaded rental income (typically 70-80%) and require the… 1 106880 Being an owner builder is no walk in the park. It’s a challenging endeavour that requires dedication and hard… 0 36886 |
