Assetline Capital launches new alt doc construction
13 Feb 2024
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Assetline Capital has launched a new construction product for developers, investors or borrowers looking to redevelop existing properties
The new product provides more opportunities for borrowers who require construction loans from $1m to $5m
Assetline Capital’s Alt Doc Construction provides funding for company and corporate trust borrowers for the ground-up construction of houses, duplexes, townhouses and for structural renovations.
Borrowers of Alt Doc Construction can access financing from $1m to $5m and 70% LVR for a period of up to 18 months. With no/limited presales or servicing required, the product aims to deliver an alternative and reliable funding opportunity for borrowers wanting to do small developments.
“Assetline Capital recognised a gap in the market and worked with our broker network to develop an alt doc construction funding product between $1-5m.
We’ve kept the process deliberately simple to make it easy for both brokers and borrowers to access,” says Royden D’Vaz, Head of Sales and Distribution at Assetline Capital.
Unlike larger construction solutions, the Alt Doc Construction product has a simple and straightforward five-stage drawdown payment process, providing the broker and its client with a clear, efficient, and cost-effective strategy for the build.
“From initial deposit to structure and finishes, the borrower has access to Assetline’s experienced construction project monitoring team to provide regular updates and certificates of compliance to ensure that the project is running on budget and schedule,” says D’Vaz.
The Alt Doc Construction product is available across all eastern seaboard states in metro locations and is part of the non-bank lender’s extensive offering of construction solutions.
“We understand that there is no ‘one size fits all’ product when it comes to construction funding needs, which is why we have many solutions available from partially completed to development exit to large construction funding of up to $40 million,” says D’Vaz.
With the appetite for construction lending within the broking industry growing steadily, D’Vaz also notes the Alt Doc Construction is a good segue into the construction space for those brokers who may not have experience in it.
“I would encourage brokers who are unfamiliar with construction lending to look at the opportunities it may bring to their business.”
Since 2019, the non-bank lender has written more than $1bn of construction loans demonstrating its expertise and continued success in this specific non-bank lending space.
“Having access to a non-bank lender that has extensive construction experience like Assetline Capital, can often be the difference between writing the loan or losing it. Our national sales team is on hand to walk you through any construction scenarios you may have and find the right solution for you.”
For further media information and interview requests please contact: Aoife Reilly, Group Marketing Manager
0404 335 241
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