Investors:Did your bank tell you have to achieve 50% in pre-sales to get a bank loan?

If you’re an investor in commercial or industrial property unit development, you’ve probably heard the banks have upped the stakes – demanding that 50% of your new building needs to be pre-sold before they’ll agree to finance the project.

As with many commonly held beliefs this isn’t necessarily so.

A lot depends on how the project is presented.

We have done deals where few or no pre sales were required,” says Nathan Gudgeon of Nationwest Finance Solutions. “Generally speaking, a business with strong cash sales can have much fewer pre-sales and still qualify for a loan.

“If you do need some pre-sales to qualify for a loan talk to us. We could be of assistance in financing buyers of units in your development.”

Find out more by calling Nationwest Finance Solutions on 1300 888 474.

Nationwest is one of our panel of finance broker we recommend as its Principal, Nathan Gudgeon is an expert in financing commercial property.


 

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