With a vacant commercial land loan, you may be able to borrow up:
- 50% to 70% of the land value depending on the lender and the size and nature of the property. This general rule is applicable to land over 50 hectares in size.
- 80% up to 95% if the land value if the land is between 2.2 hectares and 60 hectares and is zoned residential..
- 95% if the property value for up to 50 hectares with a house on the block.
- 60% of the land value for vacant farmland. If you have a strong situation then this can go up to 70%.
If you're thinking about developing the land then we can help you qualify for a:
- Commercial development loan - You may be able to borrow up to 75% of the land and construction costs (hard costs) if you're building a block with more than 4 units or a standard commercial property.
- Residential development loan - You may be able to borrow up to 95% of the hard costs for blocks of units less than 4.
Cheers,
Otto