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  1. tobe

    Any banks give loans based on value of build?

    Do you have a fixed price contract yet? If you do, you could get Brady or a broker to order a valuation, and you can see for yourself what a valuer will estimate your place to be worth. You could also have a look at RP data or similar and get an idea. Estate agents hearsay is notoriously...
  2. tobe

    Any banks give loans based on value of build?

    The valuer does the comparison, rather than the bank, and its not between completed product (what someone else paid a land developer and a builder), its compared against what has sold (or 'resold') in the area. Unfortunately in a lot of new estates the only 're sales' initially are forced...
  3. tobe

    Any banks give loans based on value of build?

    Ive worked in construction for a long time, and have had this question a few times. In my experience, while land is now selling in later stages by the developer at higher prices, this doesn't mean a valuer will recognize an increased value in your land. The usual reason for this is developer...
  4. tobe

    Any banks give loans based on value of build?

    Even if the valuer recognized the extra value, the bank will use the lower of the two, the cost price or the valuation. If it makes you feel any better, they do the same with established properties as well, banks love having it both ways. You can have another valuation performed as soon as...
  5. tobe

    Any banks give loans based on value of build?

    why do you want finance structured this way? For instance, if you are using a family pledge, you can get 100% finance for the land value and cost of build, after that you can have the place revalued and access the equity at that later point? Wouldn't that have the same effect? There are...
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