Platinum has access to several bank and non-bank lenders that have specialist loan products for the first time developers wishing to use the equity in their home.

Funds are available for small projects including homes that are sitting on large blocks and able to be split into 2 or more lots. Development funding for unit developments up to 12 are available from the non-bank lenders as they do not require presales whereas the banks generally require all the debt to be covered by presales prior to advancing any funds.

Also, the banks require interest cover during the construction period whereas the non-bank lenders don't always require interest to be retained against drawings. Banks generally don't lend high enough and expect the developer to have at least 40% of the project in available funds and to spend these funds first before the bank commences its drawdown.

Please contact on our underwriters for an appointment and we'll whiteboard what you are trying to do and offer all available bank and non-bank lender options.

We have successful results and are pleased to have been able to assist many of the mum and dad type developers wanting to construct simple and small development projects.

The Directors have been personally involved in several small developments involving the splitting of larger blocks, relocating and raising the existing home, and constructing a new home on the vacant block. This action has signficantly increased the value of both properties; this action combined with a strategic finance plan has enabled sufficient equity to be created. And, after all, isn't that what its all about? Come and talk to the experts at Platinum. There is no obligation and no cost to do so.