Property Development Loan

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About Property Development Loan

  1. Property development finance refers to a short-term loan type which provides funding for the development of property.
  2. Development of property extends to construction projects, land purchase, property renovation and much more.
  3. Properties eligible for financing include residential and commercial in the context of respective property.

Apply for property development loan

 

Frequently Asked Questions

Supporting Documents Checklists

Personal identification

  • 100 points of ID are required. A current passport or birth certificate = 70 points. Driver licence = 40 points. (Please note if these documents are in your maiden name, you will also need to provide a copy of your marriage certificate.)
  • Other documents that help build up 100 points include: a Medicare card, credit card, ATM/debit card, council rates notice, pensioner concession card, health care card, tertiary student ID card.

Income details

  • The two most recent payslips from your current employer. (Ideally these will show the company name, number of payslip and year-to-date income figure.)
  • The most recent Group Certificate from your employer.

If self-employed

  • The last two years’ personal and business tax returns and ATO assessments.
  • Other income details.

You may also need

  • Rental income statements or bank accounts showing rental income for any investment properties.
  • Proof of share dividends or interest earned.
  • Centrelink letter confirming family tax benefits.
  • Centrelink letter confirming permanent government pension.
  • Private pension group certificate or statement.
  • Proof of any other regular, ongoing income.

Additional documents for mortgage refinancing

  • Documentation on your existing home loan including the date the loan commenced, loan period and any financial penalty payable if you exit the loan early.
  • Statements for the last six months for any existing home loans and personal loans.
  • The most recent council rates notice and building insurance policy on the property or properties being offered as security.
  • Credit cards:
    • If you have credit card debt, statements for the last six months; or
    • If you don’t owe anything on your credit card, the most recent statement.

Additional documents if you already own a home

  • Statements for the last six months for any existing home loans or personal loans.
  • Your most recent credit card statement.
  • Copy of the contract of sale for the property you’re buying.
  • Statements for the last six months to show your savings and investment history. (This could include share certificates, savings account statements, term deposit statements, etc.)
  • If other funds are being used for the purchase, evidence showing where the funds are held.
  • If other funds are being given to you, which are not already in your bank account, you will need a Statutory Declaration from the person giving you the money.

Additional documents for First Home Buyers

  • Statement for your First Home Saver Account, if you have one.
  • Statements for the last six months to show your savings and investment history. This could include share certificates, term deposit statements, etc.
  • If other funds are being used for the purchase, evidence showing where the funds are held.
  • If other funds are being given to you, which are not already in your bank account, you will need a Statutory Declaration from the person giving you the money.
  • Your most recent credit card statement.
  • Copy of the contract of sale for the property being purchased.

Additional documents for investors

If you already have investment property(ies):

  • Evidence of income such as rental statements.
  • A copy of the tenancy lease.
  • A council rates notice.
  • Copy of the contract of sale for the property being purchased.
  • A letter from a property manager indicating likely rent for the new property.
  • Copy of the contract of sale for the property being purchased.

Additional documents for borrowers seeking a construction loan

  • A copy of a valid builder’s fixed price tender, including all specifications.
  • A copy of council approved plans.

Can I pay off my loan early?

Yes. If you want to pay off the loan early and you have the sufficient fund available with you, loan can be paid off early.

Do you offering refinancing ?

Yes. Refinancing option is available if you want to replace existing loan with other Loan to get the better interest rate or to cash out for a required purpose by using equity on the existing property.

When should i apply?

Whenever you are in need of financial support, you can contact your mortgage broker to discuss the available options.

Where are you located?

We have our head office located in Edmonson Park in Sydney. However, we help clients who need financial assistance anywhere in Australia.

Get a Quote

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    Our goal at Finconnex Financial Services is to find you the best possible mortgage rates, loan interest and terms in the market. Whether you’re a buyer or business owner looking to purchase, loan or refinance in Australia, contact us to find out about our fixed and variable rate offers today!

    Suite 57, Level 8, 301 Castlereagh Street Sydney NSW 2000

    0287 509 780

    Australian Credit License Number 384704 | Credit Representative Number 507412

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