Awkward property to obtain finance for, any suggestions?

Hi there,

I am very very keen to get deeper into debt in the form of buying another investment property on a buy and hold strategy. Before I do though I want to buy a PPOR. We are looking at buying a block of land and building. There is a reason for this. My wife runs a dog walking business and we want to push into boarding dogs. I don't know if it is the same in every town, but where I live, to board more than two dogs you have to live in the areas zoned for kennels and this is where we want to buy.

I have found the block I like and am now trying to obtain finance on it. The best I have found as yet is a lender who will lend with a maximum LTV of 90% because the land is in the kennel zone and you have to have some kind of dog use for the land to buy there, ie, greyhound training, grooming, breeding etc. You have to have three kennels at least built on the land before or at the same time as you build.

I think the lenders see this as high risk because if default on the loan the lender will not be able to quickly sell the land because its market is limited. The land is residential land so no problems there.

I spoke with ANZ business lenders who said that they would only do 80% LTV as a business loan and they might be able to reduce that a little with a business plan and evidence of projected turnover etc.

This all makes sense to me I just wondered if anyone had any ideas on any solutions. I am hoping to get a 95% LTV so we can get started on the business. I am a FIFO worker so can easily service the loan, that's not an issue.

I have asked the real estate agent to approach the seller and ask them if they would consider vendor finance. I said I would probably be happy to pay full price if we could get the finance. It is bank owned I think, so they should have the facility to do it rather than hold the block earning no money but I know that this is very unfamiliar to a lot of people, me included.

Any ideas that could help me?
if its a normal block with no doggy facilities it should qual for a 95% lend

Have done a couple of similar ones recently at 90

whats the asking price pls ?