Meet Amy and Matt,
They popped into dm consult as their bank didn’t support their application to build their own residential property. This may have been due to Matt being a self-employed builder and Amy runs the admin side of the business.
Due to the strong trading performance of their Business, listening to what is acceptable to the bank regarding a builder building their own residential property resulted in a loan approval. Amy and Matt stuck to the plan with no variation which resulted in a successful Building project.
Bankers do get a little nervous with a builder building their own home, and the impact it may have on their business’s turnover and the project not being completed in a timely fashion. However, their project went like a well-oiled machine from start to finish to the degree the Banker said “Cool – easiest build ever.”
The Key to Amy and Matt success in regard to obtaining finance was:
1. Two years of strong Trading.
2. They gave the bank what was required to obtain an approval.
3. Made no variations to the fixed price contract.
4. Build the house in a timely fashion.