House & Land Lending (turn-key lending)

A Turn Key Loan relates to house and land packages which are marketed as a complete package at a pre-determined price, prior to the house being built.

The contract is in the form of a standard sale and purchase agreement with an accompanying fixed price contract between you and the building company. You will typically have to pay a 10% deposit at the point of signing the contract with the balance being payable on build and project completion.

Often two registered valuations will be required to be provided to the lender. The first valuation is obtained before the build begins this is to ensure the completed build matches the fixed price contract and the second upon completion with Code of Compliance.

From a lender’s perspective, with a Turn Key loan (which is a common high loan to value ratio), the sale and purchase agreement must provide for the house to be fully completed with the code compliance certificate issued. Chattels down to clothesline, letter box, retaining walls, and fences (if applicable) are to be in place. Wright Financial will be working with you to ensure all aspects of your contract have been covered, making any speedbumps during the process far less severe.

Wright Financial turn key loan includes:

  • Expert advice on which structure is best suited for your specific needs.
  • Deciphering the jargon so our clients understand what is required and what to expect.
  • Investigating all lenders rates and benefits to ensure our clients are getting the best deals.
  • Ongoing communication and personalised advice every 6 or 12 months.

For a limited time, submit your contact details and book an appointment with one of our advisers and receive a $50 voucher on your first visit.