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  1. #1

    Default Short Term Lending Options

    Hi guys,

    We're looking into an investment property with a sub dividable section. I'm after some financing options to achieve our development goal.

    We want to subdivide off the rear section and, once we have title, sell the house (~4 Months). We will then look to build on the section and sell that off too (~3 Months with a kitset).

    We have a 20% deposit on the house and can cover the cost of the subdivision.

    We don't have our own home to secure against, we have good income though! I only found out not having a house is a problem after talking to Resimac and being told they could only do 35% lending, which can't do...

    Has anyone got any ideas of financing options for this?


 

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