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Buying Land
Are the rules the same?

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#1 naturalgoodness

Posted 09 February 2013 - 08:45 AM

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  original.gif

#2 katpaws

Posted 09 February 2013 - 05:21 PM

Maybe the home one forum website might give you some ideas.

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