Development Finance Sydney Melbourne Brisbane Perth
The Australian property boom has bust, bottomed, now the market has stabilised and in some locations real estate prices are on the way up.
The return of the property market, private development finance Sydney Melbourne Brisbane Perth is readily available from interest rate starting at 8% per annum.
Property developers have the ideal finance environment to move forward with property development projects in a slowly rising property market combined with low interest rates from the major Banks.
Mezzanine finance is abundant and interest rates have become competitive.
Prudential Finance will provide property developers with professional finance services, from working up the numbers on a new project through to settlement.
For further information go to our Development Finance page or call 1300 550 669.
According to real estate specialists, property prices in Melbourne and Sydney’s middle class suburbs property growth is going gangbusters as the lower and top-end markets are in danger of being busted by prices too high or not high enough.
Traditionally going into winter buyers tend to hibernate but Auctions are still going hot with Melbourne’s south-east suburban maintaining clearance rates of 90 per cent and Melbourne overall having clearance rates 74 per cent compared to 68 per cent, 12 months ago. Also Sydney has increased from 75 per cent last year to 76 per cent.
“Prices growth has moved past income growth” Andrew Wilson, senior economist at Domain Group said and the rising property prices have impacted on those wanting to put a deposit on a house, one-third of renters claim they cannot afford mortgage repayments and half couldn’t afford the deposit.
How to apply for Development Finance
To apply for full doc Property Development Finance you will need to provide the following information;
Development Loan Application Information
a) Date of Birth
b) Place of Birth
c) Drivers Licence copy
d) Passport copy (for non-residents)
e) Credit History – Veda Advantage Credit Report
f) Residential Address
g) Professional Experience – Resume
h) Assets & Liabilities Statement
c) Registered Office
h) Last 2 years Tax Returns if applicable
i) Assets & Liabilities Statement
a) Executive Summary
b) Feasibility Cashflow Budget (preferably by Excel Spreadsheet)
c) Project Application of Funds
d) Sponsor’s Development Experience
e) Development Approval
f) Full Set of Plans (PDF Original)
g) Consultant details;
(ii) Quantity Surveyor
(iii) Construction Company
(iv) Development Manager
(v) Construction Contract Superintendent (if any)
(vi) Project Manager
(vii) Real Estate Agent
h) Presales – Detailed list including Purchaser, Deposit, Lot & Price
i) Market Analysis
Prudential Finance will advise you on how to apply for development finance, from due diligence and project profitability analysis before development site acquisition, procuring senior debt, mezzanine debt, joint ventures, & development management.
Call Prudential Finance on 1300 550 669