Deal of the Week: Refinance, Vacant Land Purchase, and Preparing for Future Construction Loan.
Deal of the Week: Refinance, Vacant Land Purchase, and Preparing for Future Construction Loan.
Key Points from the Transcript
✅ Client Situation:
A young couple with an existing owner-occupied property in Bannockburn, VIC.
Wanted to use home equity to buy a block of land (already secured with a $1,000 deposit).
Plan to build their dream home on the land in the future.
✅ Challenges & Requirements:
14-day finance clause → Required a lender with fast turnaround times (secured unconditional approval in under 7 days).
Needed a lender experienced in land & construction loans.
Wanted to keep their current home as a potential investment property.
Did not want to cross-collateralize loans (to keep control over both properties).
✅ Solution & Results:
Choose a lender with expertise in land and construction loans.
Ensured the couple had the flexibility to sell one property without affecting the other loan.
Secured the same sharp owner-occupier interest rate for both loans.
✅ Key Benefits for the Clients:
Total control over their loans and properties.
Future flexibility to sell or rent their current home without complications.
Competitive interest rates without tying assets together.
📞 Call to Action:
If you're considering refinancing, buying, or investing, contact me to discuss your options!
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