Financing your New Build with Ashcroft Homes

How can I finance my next new home build?

It’s our goal to make Property Development Easy and we’d heard from too many people that obtaining funds for property development was increasingly difficult and time consuming.

It was with this in mind, that Ashcroft Homes formed a partnership with Rocket Mortgages.

Rocket Mortgages are a specialist team who understand the unique challenges of property development funding, and the solutions that developers require. Together, we have now helped many clients achieve their property development goals – even when the banks originally said no!

Ashcroft’s Property Development Consultants are the first step in the process, working with you to determine the best building solution for your site. With a plan established, you’ll then be ready to speak with the advisors at Rocket to understand your project funding options.

How can I finance my next new home build? Rocket Mortgages

How does it work getting finance for a new build?

A simple guide to how finance for a new build usually works.

Rocket Mortgages access a wide range of lending options

Through our finance partner, Rocket, you can access a wide range of lending options — from private lenders to major banks — across both residential and commercial finance products.

Rocket Mortgages negotiate directly with lenders

As your intermediary, the advisors at Rocket manage the finance process and negotiate directly with lenders on your behalf.

Their role is to provide objective, independent advice to help you find the finance structure that best suits your project and goals.

Rocket Mortgages explain the risks

They will clearly explain the risks and benefits of each option, avoiding unnecessary jargon so you can make well-informed finance and mortgage decisions.

This is how Rocket Mortgages helped fund a property development

The Problem

Two brothers inherited a rental property, which was returning a relatively low rental return of $450 per week. After taking up the offer of Ashcroft’s free site evaluation report, the brothers realised they could build four homes on the site and applied to their bank for development funding. Unfortunately, their application was declined due to not meeting the bank’s restrictive servicing criteria.

The Solution

The brothers approached Rocket Mortgages for help securing funding. Their advisor structured a solution using bank funding while the project progressed through resource and building consent, then transitioning to non-bank funding once physical work was ready to begin.

With strong experience in development finance, the advisor knew which lenders to approach and what they required to approve the application. This enabled Rocket to quickly secure a competitive funding offer while keeping client costs as low as possible.

The Outcome Rocket Mortgages

The Outcome

The new buildings are now completed. The brothers have sold two of the homes enabling them to pay off the mortgage in full. They have retained the two other houses as rental investments – one for each family, and both homes are now returning strong returns of over $700 per week each.

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How to apply for finance for a new build project

Get in touch with an Ashcroft Property Development Consultant to discuss your project and learn about the financing options available.

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    Already have finance in place? Next steps for building a new home

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