Understanding loan break downs

Hi guys this makes two stupid questions in two days.

We have put a holding deposit on a block of land pending approval.
We have also locked a house price in with Henley and have received a quote from them with our additions and theirs.
(No driveway, fencing or landscaping plan as yet as they said it would be cheaper to source that ourselves)

Our plan buy the land sit for six-eight months and save to increase construction deposit and cover site costs.
Site costs will not be fixed.

Seems easy!!!!

Now told we can not take out two separate loans as the lender will not grant a loan for under $250,000 even though at the completion of the build the loan will total $390,000 approx.

I am not sure why we have to get a construction loan when we aren't ready to build or know all of our site expenses. We didn't want to have to pay the builder for the house plan until we were comfortable we could start everything.

Please help me am I missing something here as I am really not sure how this works and I am worried we will now lose the land as they will not finance it on it's own. Should we just go early and hope that the build won't start for six months anyway?
Land is titled and settlement will be 60 days

Thank you for any help offered

Shop around. Different lenders will have different options- we went through ANZ breakfree, where I think the land loan had to be above $150000...

Im sure there are banks who will provide a loan for land only. Bank west do it. Personally i would try and do both land and construction loan together as it lessens the chances of the valuation coming under. Banks will consider it less of a risk. A few friends of ours who have chosen to take the same path of doing land first have felt the pinch when the value came under and had to come up with the extra funds to cover the shortfall. Depending in what area ur intending on buying there is that risk of that happening. If the area has been built up and has good infastructure then the risk is lower of having it undervalued by the valuer. Try and find a builder that has everything you need including fixed site costs fencing blinds driveway and more. There is builders out there. Our current builder has all that covered and more. Pretty much turn key package great inclusions. No hidden extras. Shop around and make sure you get value for money.

In a perfect scenario, applying for a land and construction loan at the same time would be recommended for a variety of reasons.

However this doesn't always happen, and people do apply for a land loan with the view of applying for construction at a later date. Plenty of lenders accept this and I do it for clients all the time.

In most cases it will be the land loan and then a top up (increase) when applying for construction when the time comes. There might be some risks involved as mentioned above, but that is the chance you take. A lot of lenders also allow you to also provide quotes for things like driveways, fencing, etc so there isn't a need to find a builder that incorporates those costs.

Cheers

Tom

Thank you all for the good advice, some more reading and research to do now.