Hi All,
I wanted to build 2BR GF + Studio GF on the established property. I've checked with the builder and the council and they allow me to do that. The problem that I have is the Construction Loan. Based on my past experience CBA allowed me to borrow up to 95% to build a GF. I tried to submit my loan application for 2BR GF + 1 Studio GF and they don't allow it and they told me if I want to do it then I need to take commercial loan instead (80% LVR, higher interest rates). Anyone ever facing the same problem as me?Any idea of which bank that can borrow me up to 95% for 2BR GF + 1 Studio?
I wanted to build 2BR GF + Studio GF on the established property. I've checked with the builder and the council and they allow me to do that. The problem that I have is the Construction Loan. Based on my past experience CBA allowed me to borrow up to 95% to build a GF. I tried to submit my loan application for 2BR GF + 1 Studio GF and they don't allow it and they told me if I want to do it then I need to take commercial loan instead (80% LVR, higher interest rates). Anyone ever facing the same problem as me?Any idea of which bank that can borrow me up to 95% for 2BR GF + 1 Studio?