I am thinking of buying a block of vacant land with the view to build on it down the track. I have never bought any property before.
Is the lending process/criteria the same for land as it is for a house? When I look at a few bank sites they don't specifically talk about loans for land.
Do I need the same percentage deposit? Will they want to know what I want to do with it? Is the LVR lower than for a house?
Grateful for any insight