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Thanks for the replies guys. Managed to get him a good discount on his business loan (5.55) for the time being, once construction is done, he'd leave the bank.

Thanks guys. Do you know any banks that would refinance the business loan to resi before construction is complete? From what I know. Most banks will not refinance business to resi. I guess just have to look for a bank with good cash out policy.

Yes, it might be a split contract. Doesn't make sense why the bank manager didn't just do a equity release at resi rates for the build though..

Hi all, I have a friend that was put on a business loan secured against his unencumbered property for the build cost of his H&L property. The bank manager informed him that the best option available was a Business Loan because policy has changed in regards to building a property with a common...