Partner with an experienced specialist construction lender.
Rider Financial Group has a solid record as a credit specialist in small to medium size developments, on a consistently selected and conservative basis.
Our view on these developments and resulting stock is it can be an excellent short and long term residential asset. We can also consider financing finished residual stock.
These assets may provide strong upfront and ongoing opportunities for participation in the property market and benefits, for developers, builders, debt financiers, residents, initial and ongoing equity owners and for the broader local community or town in the respective metropolitan areas.
We focus on immediate personalised service and response • Prudent lending terms. • Well understood, straight forward and reliable development pathways, approvals and build requirements.
• Predictable and relatively short term timeframes.
• Relatively standardised and comparable deals.
• Experienced developers with high quality track records and seeking repeat funding, and
• Strong ongoing deal flow reflecting long term redevelopment demographics. La Trobe Financial views the transformation process now underway in the growth of small to medium size, low rise residential dwellings, to be a significant long term trend. These assets are lower profile than other development assets – literally high rise and high profile – but we view them as a high quality component of the Australian property landscape for the foreseeable future and we believe they offer participants valuable ongoing outcomes.
General Features of Our Construction Loans
GENERAL DESCRIPTION: Our Construction loans suit applicants looking to complete construction of a single dwelling right through to developers looking to complete small medium development projects.
LOAN PURPOSE: Construction of small scale residential developments
ACCEPTABLE SECURITY: Construction of Residential property
ACCEPTABLE RISK GRADE: A, B & C1
ACCEPTABLE LOCATIONS: Metropolitan. Major regional locations considered
MINIMUM LOAN AMOUNT: $100,000
MAXIMUM LOAN AMOUNT: Single dwelling $2,500,000 Multi dwelling $25,000,000
MAXIMUM LVR (SINGLE): 75% – $2,500,000 Loan Amount not to exceed 80% of the total development costs
MAXIMUM LVR (MULTI): 70% – $5,000,000 65% – $25,000,000 Loan Amount not to exceed 80% of the total development cost
LMI REQUIRED: No
MAXIMUM LOAN TERM: Single build: 30 years; Development finance: 2 years
REPAYMENT TYPE: Interest only. Single build loans can revert to Principal and Interest upon completion of construction
MAXIMUM INTEREST ONLY TERM: 2 years
INCOME VERIFICATION (FULL-DOC): 2 payslips and employment reference OR last 2 years financials/tax assessment notices
INCOME VERIFICATION (LITE-DOC): Borrower repayment declaration PLUS one of the following: accountants letter; BAS or Trading Statements
INCOME VERIFICATION (DEVELOPMENT FINANCE): Interest will be capitalised during the construction period within maximum
ADDITIONAL REPAYMENTS PERMITTED: Available on single build only
REDRAW AVAILABLE: Available on single build only