No pre-sale finance from a bank to developers is still achievable even in this current lending market.
Finance Advocates recently obtained finance for an experienced developer for an 8 townhouse project in the suburb of Ivanhoe with no pre-sales.
The developer who specifically requested no pre-sales as his strategy was to hold the properties long term or maybe sell one or two on completion to maximise the sales price in this rising market set the challenge for the Finance Advocates Team.
With its vast experience and contacts obtained over 32 years in development finance, Finance Advocates Australia structured a loan package with a second tier bank that met the brief of the client.
The project has now commenced construction with one very satisfied developer.
