Applicant, a registered builder had previously built and sold two houses and was now seeking funding to construct an investment property in Queensland. Applicant’s credit file revealed 2 small defaults. Applicant was able t o provide a fixed price, fixed time building contract from his building company for $750,000 and already owned the land (valued at $250,000)
Solution: Loan was approved using our residential construction product at 75% LVR (based on end value), with income verification met by an accountant’s certification and borrower repayment declaration
