Development Funding – Mortgage Wise

There was a time when it was easier to borrow $30 million for a development than it was to get a Credit Card? The Global Financial Crisis surely put an end to that. Now with the effects of Covid -19 taking us down yet another financial path, traditional bank lending is becoming even scarcer. Banks that have been funding in this space are now actively consolidating their commercial loan books and asking clients to refinance elsewhere. The Development and Construction lending market in Australia is almost non-existent now through these traditional sources unless you are one of the few very big companies. Even if you are lucky enough to source a bank lender, they are setting some of most stringent lending parameters in the world: 50% Loan to value ratios, 100% Presales, 130% + Debt Coverage etc. To put it simply, they only want the “Cream of The Crop”.

Our Specialized Funding Partners look at each deal (and the person behind it) on its merits and not just according to Bank Policy and then make a decision! Today, too many good opportunities simple do not progress because they don’t tick the right boxes at the banks. This is where our funding partners differ.

Whatever your development funding requirements are, Commercial, Residential, Hotel, Industrial or just a refinance, talk to us at Mortgage Wise and we will pair you with the right funding partner.

Do not let “Near Sighted” traditionally lenders stop you from taking your next step. Contact Mortgage Wise today to see how our open minded lenders can help you today for your tomorrow!