PROPERTY DEVELOPMENT FINANCE MELBOURNE
Working on a property development project has the capacity to transform your financial freedom— get the right support from an expert broker.
Investing in New Property Development Projects
Real estate development has been recognised as one of the most economically fruitful ventures. Even a small project can lead to considerable financial gain in the long run as your property appreciates with time. If you are someone who is looking to begin a small or large property development project, such as constructing a duplex or townhouse, seeking finance is a crucial step in the process. Property development is an excellent way to maximise investment profits from land development.
The problem is that property development is an expensive venture. For countless Australians, the dream remains just out of reach. Even worse, taking on this project without the right financial planning can lead to damage someone may never be able to recover from. If you’re looking to make a strategic step toward a brighter future, your journey needs to start with impactful financial support.
Loans for Property Development
Residential Property Development
Generally speaking, residential property development loans are easier to obtain than commercial property loans. This is because they tend to be perceived as being lower risk. Lower risk means lower interest rates and fewer hurdles to jump through as you apply! There are different types of residential loans, however. A residential property development loan is more likely to have higher interest rates than single residential property loans. When going through the application process, lenders are going to require that you provide the following information:
Detailed plans for your property development project
Your full credit history
Any collateral security you are able to provide to lower the lender’s risk
A comprehensive overview of your current financial situation
Commercial Property Development
A commercial property development loan can be harder to obtain, as it is considered to be a higher risk overall. There are two different uses for commercial property development loans, the first of which is land banking. This involves purchasing a block of undeveloped land that has been approved for development or rezoned. This loan isn’t used for construction purposes, simply purchasing the undeveloped land itself. From there, many developers will choose to divide the land into smaller blocks to resell for maximum profit return.
The second use of commercial property development loans is construction loans. These are precisely what they sound like – a construction loan finances the construction of multi-residential properties on undeveloped land. These loans have stricter lending criteria, and the application process may take longer to approve.
Financing Your Property Development Project With Mel Finance
Mel Finance, your Melbourne based mortgage broker, can assist you in understanding the process for the application and borrowing the necessary funds to finance your residential property development. Mel Finance is well-versed in these types of loan applications based on prior experience. We take the time to understand your needs, your plans, and your vision for the project. Following this, we source the best financial instruments and products available in the market to secure your funding and ensure that you achieve the correct debt structuring. The type of loan you acquire is crucial to maximising the profits of a developmental project.
While many firms in the market offer property development finance, lenders may have numerous restrictions based on the size of your project and total lender exposure in the area. Mel Finance is worth your time because we have experience working with many different kinds of property development projects. We have a range of financial products to support your unique requirements. From mezzanine funding to taking out finance for half-completed projects or joint venture funding, we are invested in helping Australian property developers – big and small – to find the best solution.
Ready to take the first step toward making your development project a reality? Request an appointment with Mel Finance today to discuss your project further.
Choosing the Right Lender and Loan
The world of property development loans is complicated. Ensuring that you have the right lender and the right loan is going to make all the difference in your property investment project’s success. If you’re looking for maximum profit and a seamless experience, then we believe that our experienced team can make it happen. Major banks will not be able to offer such flexible and personalised services to meet your needs.
Our property development finance experts work hard to stay updated on the changing world of construction and finance, ensuring that any property development loan or financing solution is impactful and appropriate for your circumstances. With a history of working with a diverse range of clients and markets, you can trust our property development finance brokers.
Your Property Development Finance Questions Answered
Property development loans are flexible. There isn’t a one-size-fits-all solution, and the amount that you will be able to borrow will be dependent on a series of factors. To find out how much you can borrow with development finance, request an appointment with Mel Finance today.
Figuring out which type of loan you require depends entirely on the details of your development project. Hopefully, our breakdown of these loans and the projects they are best suited for can help you understand what you need. If you need more information on these types of property development loans, feel free to discuss your needs further with one of our Mel Finance experts today.
Why Choose Mel Finance?
Kickstart Your Future With Our Team of Experts
Let’s make one thing clear: embarking on a property development project is a challenge. Navigating the application process for project development loans isn’t going to be easy, but the effort will be all worth it. With proper strategy, planning, and experienced financial support, your property development project could very well transform your life. Daring steps can lead to bigger and better things – but that doesn’t mean you have to feel like you’re risking everything you’ve worked for to make it happen!
Here at Mel Finance, we take the fear out of your next big venture. Once we set you up with your perfect project development loan, we can make sure that your project is set up for the best possible success from day one.
Request an Appointment With Mel Finance to Organise Your Property Development Finance
Everything at Mel Finance begins with a consultation. Before you begin the planning process for your development project, you need to get your property development finance in order. Our team would love to discuss your ultimate vision in a quick consultation. From there, you will be able to smoothly proceed with your plans, without needing to overcome endless issues financing your project.
Don’t let your plans go delayed or get canceled altogether – contact Mel Finance today to request an appointment, or give us a call to get your questions answered by a friendly team member.
I am grateful to the person who introduced me to Lumbini as a mortgage broker for my refinance in this crazy year of interest rates. Lumbini was very thorough, and helpful and displayed a wealth of knowledge in the finance industry. Communication was great, which normally is a deal-breaker for me. Not only did I get one of the best interest rates going, but I also got free financial advice. I will definitely use that to build my wealth. I have been recommending Lumbini to my friends and colleagues already because the service was excellent. Thank you, Lumbini and Mel Finance.
September 14, 2023
Lumbini was very thoughtful, patient and helped us through the whole process. Definitely recommend.
October 26, 2021
I am delighted to share my recent experience in purchasing a new home and express my heartfelt appreciation to our dedicated mortgage broker, Lumbini. Throughout the entire process, Lumbini exhibited a remarkable level of professionalism, great service, and care. His patience and attention to detail during our consultations were truly outstanding, making the complex journey of securing a mortgage simple and seamless. I wholeheartedly recommend his services to anyone in need of expert guidance in the mortgage arena. Thank you, Lumbini, for your exceptional support and expertise! 😊
November 3, 2023
Fantastic service Highly recommend Was recommended to another broker by a friend but after a Google search and reading the great reviews I decided to give Lumbini a call, so glad I did! Lumbini was upfront, honest and professional from start to finish. He explained the pros and cons of all available loan packages and always made himself available to answer questions. Can’t recommend Lumbini enough, Thanks
September 30, 2021