Who else lends on Council Approval & Doesn't require titles?

[Mamaof3]

It still annoys me how few lenders will lend on council approval for construction finance...majority of them require titles to be issued which significantly increases ones holding costs given how slow/behind DAC and LTO are (doesnt seem to be getting any better either).

Are there any other lenders that will lend on council approval (this is for residential loans) apart from Westpac etc?

 

[silversands]

bank s.a.

H guys, we have just constructed 2 houses in Aldinga. We merely purchased the land subject to finance approval and provided the bank s.a. with quotes for the homes we wished to build and had no problems whatsoever. We have used this bank many times but p m me if you want specific contact details.
Regards Jodie

 

[Mamaof3]

Hi Jodie,

So you managed to access the funds for the construction of your 2 new homes even without titles through Bank SA? We went through this with Bank SA late last year and spoke to the top guy at the branch (actually several branches) and they all insisted we have to have titles before they'll release any funds for the construction.

I'll have to PM you for your contact's details!

Cheers,
Kim

 

[Qlds007]

I am just financing 4 properties on the same title for a client and the lender has not requested Title prior to release of funds for construction.

 

[Mamaof3]

Hi Qlds007,

Do you mind me asking who that lender was?
You can PM me if you prefer.

Cheers heaps