Brother and sister, John and Kirsty wanted to purchase a block of land and build an investment property.

Kirsty lives and works part time in Australia and receives somegovernment assistance, John lives in the UK and is self employed with his IT business.They are both Australian citizens.

A small deposit was available however they had wanted to conserve this for buildingapproval costs and keep a buffer incase anything had come up. This limited the amountthey could put as a down payment however they did have the option of using their parentshome as additional guarantee security.

They contacted Megin from Loan Market andwere ecstatic when they were told that this entire project could be funded for them, by amajor bank, in the unique situation they were in.

Solution:

A limited deposit construction loan with a guarantor security involvingoffshore self employed income.

Definitely a milestone approval.