Best Building Finance | Bridging Building Loans Australia

How do I finance building my commercial property / development?

There are a number of different financing structures you can utilise to get your building or development project off the ground.

Whether you’re looking for business loans, investment property loans or non-conforming loans for developments without 100% debt coverage in pre-sales, Hodgestone Finance’s wide network of bank and non-bank options means we can secure the right building loan for you.

What is a commercial bridging building loan?

In a commercial context, a bridging building loan is a type of short-term loan that can function as an urgent settlement fund before you’ve got your proper funding lined up.

This can be useful, as it saves times – and pre-sales tend to increase as the actual brick and mortar “building” of the project begins.

What are the pro’s of a commercial bridging building loan?

Some benefits include –

  1. You can begin financing your next commercial build or development sooner
  2. Get a better price on your current property by having the time to find the right buyer.
  3. Flexibility to reduce overall loan interest by making P&I repayments if you can.

Low Doc Building Finance – Low Doc Building Loans

What is a low doc building loan?

Low doc building loans are flexible building finance options for people without the necessary documentation (like tax returns) for a bank loan.

It’s a great option for; self-employed sole traders, developers with an ABN under two years old, projects lacking pre-sales or anyone else who fits into a ‘non conforming’ category, i.e. unable to meet many of the other stringent benchmarks set by most banks.

What do you need to get low doc building finance?

The key documents needed for a low doc loan are: –

  1. ABN
  2. Business activity statements
  3. A statement from your accountant

Depending on the particular loan we organize, other documents may be needed – please call to receive our self-employed applicant checklist.

We also offer a range of non-conforming loan options – meaning that even if you have bad credit, there’s still a way to get your project off the ground.

Private Building Loans & Building Finance Broker

What is a building finance broker?

A building finance broker, much like a regular finance broker, is an intermediary between you (the borrower) and a third party (usually a bank). The main distinction is that specialist building finance brokers stay on top of building loans specifically, across all the main banks and other private lenders.

At Hodgestone Finance, we’re a specialist peer-to-peer broker for standard and bridging building loans.

What are private building loans?

Commonly, building loans – especially bridging building loans – come from banks. However, Hodgestone Finance has a network of private lenders that we can negotiate a great, flexible P2P private building loan with.

What are the benefits of a private building or private bridging loan?

Some of the benefits of a private lender are:

  1. Short term
  2. Faster to secure
  3. Often have a simpler/less stringent loan qualification process

Bad Credit Building Finance

Can I still get a building loan with bad credit?

Yes, if you’re looking to take out a loan to get your build started before selling your current property, Hodgestone Finance is happy to supply a bad credit bridging option.

For example, because many building loans are based on the eventual sale of your current property, there are a number of great options for people with poor credit history as long as a percentage of debt coverage in pre-sales can be established.

What does bad credit mean?

Bad credit refers to having a black mark against your name in certain parts of your credit history. Things which can cause this include:

  1. Bankruptcy
  2. Court writs
  3. Liquidation of assets
  4. Defaulting on your loan or missing repayments

Building Finance Rates & Bridging Loan Rates

What are your interest rates for building loans?

To see our building finance rates, look at our regularly updated rates sidebar on your right or call Hodgestone Finance today.

Disclaimer

Consulting and broking services provided by Hodgestone Finance do not constitute a guarantee on the loan itself when arranged with a third-party (whether bank or non-bank) and we do not accept responsibility for any failure for lenders to deliver on the outlined terms.

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