Construction loan with 88% LVR

From what you say, it seems that you underestimated construction costs and you need to borrow a lot more now than expected. As a result you're stretching yourself more and that may be the reason why the lender is rejecting you. Do you have any income that is discretionary like overtime or allowances that might be impacting the rejection, or is it just because of "credit score"?

If it is just credit score, then there isn't much you can do to overturn it expect either try another lender who doesn't credit score, or negotiate and get construction costs lower by removing things that you might not need so you don't have to borrow as much.

Cheers,

Tom

Thanks Tom. Our borrowing capacity is good and both are in settled jobs and our credit score is very good(Equifax) it's the NAB internal credit system that's rejecting us. I borker is looking for another lender at the moment.