Vacant Land Loan
Are you looking for a loan for land, Look no further, At Realloans we assist home owner and investors to home loan to buy a vacant land.
We specialise in vacant land only loans, so whether you buying under individual, company or trust, looking for full doc and low doc option, Contact Realloans.
Land Loans with Realloans?
Brokers – Expert and Independent
We have one of the best home loan brokers that specialise I vacant land loans and provide every customer a personalised service depending on their individual needs.
With over access to 40 lenders available, RealLoans Mortgage Brokers will provide you with the land loan option that is best suited for you.
Easy Land Loan Approval
Mortgage Broker at Realloans Australia will guide you throughout your home loan process and ensure you have a quick easy loan approval.
Smooth Loan Settlement
We will ensure that your mortgage application process is smooth and we will keep you informed throughout the process until the settlement.
What is a land loan
Vacant land loans are mortgages that are used to finance the purchase of land only. A land loan is used to buy land with the intention of building a house on it later. It doesn’t have a set timeframe and is only for purchasing land.
Things to consider getting your land loan
- Land size – The size of the land is a significant factor to consider when seeking a home loan for land purchases, as it will determine the required deposit for securing the funds.The borrowing limits may differ based on the lender. In certain cases, you may be able to borrow up to 95% of the property’s value if the land measures up to 11 hectares. If you are interested in buying a larger acreage, more deposit will be required.
- Land Location – The location of the land you are interested in purchasing is an important consideration in securing your funds, as it will affect the assessment process including access and zoning regulations.One may consider a block of land in a capital city or regional center that has sealed roads and proper road access for standard vehicles more favourable compared to land in remote locations without road access. Understanding the zoning regulations for your block of land is crucial in order to confirm its suitability for residential use.
- It the Land registered or unregistered – Before buying land, make sure it’s registered because lenders won’t provide funds for unregistered land. Registered land is ready for building, with all services connected and road infrastructure complete.
- Intention to build – Having the intent to build on your land can be helpful in securing a land loan, but it is not necessary to have immediate plans. Lenders consider it a higher risk when there is no intention to build on the land compared to a borrower who plans to build within a few years of owning the land.
- Land purpose – To qualify for a vacant land loan, the property must be used for personal or investment purposes, not for farming. You can use your land as a hobby farm, but it may generate little income.
Vacant Land Loan Features
|Individual, Company or Trust
|Purchase and refinance of vacant land
|Maximum Loan Amount
|Up to 95%
|Bad or Good
|Loan Repament Type
|P&I and interest only
|Interest Rate Type
|Fixed or Variable
Which lenders offer Mortgages for Vacant Land?
Realloans Australia have access 35+ lenders with some offering offering vacant land mortgages. The Bank are offering low doc loan principal & interest and interest only repayment along with features like 100% offset account, redraw or extra repayment jus like you normal home loan.
Many banks and non-bank lenders offers a vacant land loan in Australia.
The LVR of the home loan varies lender to lender and may also vary depending upon where the security property is located. You may have to put more deposit if property is in rural or regional area.
Land loan interest rates
The interest rates for vacant land loans tend to be higher compared to rates for typical home loans. The higher risk associated with land loans makes lenders cautious about them.
Due to the fluctuation of land prices and the longer time it takes to sell vacant land compared to existing homes, lenders typically adopt a more cautious lending strategy when it comes to providing loans for land purchases.Enquire now
Vacant Land Loan FAQs
A land loan can be used to finance the purchase of a vacant block of land it may be for investment purposes or buying and holding land to build you house in future.
We are based in Melbourne, but we offer home loans including vacant land loan throughout Australia. We provide land loans in Melbourne, Sydney, Brisbane, Adelaide, Perth and other cities across Australia.
Yes we can refinance your vacant land loan. What ever your reason of refinance is may it be cash out, debt consolidation, ATO debt, for investment or just for better rate. We have access to the lenders that offer vacant loan home loan with cash out, Don’t miss the opportunity, Call us now.
Yes the low doc home loans are still available in Australia. The maximum LVR for low doc loan to buy a vacant land depends upon where the land location, land size and zoning. The maximum LVR for a low doc mortgage to land only is 70% in Metropolitan and below 60% for regional, rural and remote locations.
The interest rate for vacant land mortgages in Australia starts is similar to standard home loan. The rate for vacant land land varies upon LVR, land location, size and zoning and individual credit score.
Yes at Realloans Australia have access banks and specialist lenders that offer vacant land low doc to self-employed for buying a land as an investment.
Send us an online enquiry or call us at +61412447728 and we will be in touch with some free quotes from leading bank and non-bank lenders that specialise in full and low doc loan for buying or refinance a vacant land.
Yes definitely, the bigger the land is, the harder it will be to finance it. Up to 2 hectares there are certain banks that can lend unto 90 %. With land size greater than 2 hectares, LVR decreases and there are only few lender that can lend.
Depending upon what type of issues you have on your credit file, We have access to non confirming lenders that offer loan with bad credit score. Whether it paid defaults, arrears, missed payment or discharged bankrupt, we offer land only loan to client with bad credit history.
Document for land loans is similar to standard home loan unless you are after low doc land loan.
Need a land loan? Realloans in what you need.