For sub-division of the family property to triplex or apartment type dwellings, Tick Finance has the experience that can guide you through the process. Subdivision Finance is dependent on what type of construction you choose to do on the land.
Sub division options include:
2) House behind house developments
3) Triplex site developments
4) Multi-storey apartment developments
For larger properties the loan would be considered under business finance, as is the case with multi-storey apartment dwellings. For most other options, finance ratio’s range from 80% - 95 % depending on your individual circumstance. In addition, it is important to note that if the loan value exceeds 80% of the value of your property, mortgage insurance will be required.
We can help you obtain finance for the acquisition of the property, the costs for preparing the subdivision and also the costs of preparing the site. If a construction of houses or units is required, we can arrange finance for these as well.
We look at your options such as built strata, vacant strata, strata title or survey strata and present different ways of financing the project that allow you to minimise risk and work within your budget. Also considered is whether your intention is to sell the properties once completed or retain them to obtain rental income.
At Tick Finance we have access to a large variety of lenders that operate this type of finance. Our constant research allows us to offer an insight into this market that is unparalleled.