Land only settlement:
How much of a deposit do I need?
Since lenders act conservatively regarding land loans, the LVR can be less than 80%, thus requiring a deposit of over 20%. However, the exact LVR can be negotiated with lenders to help meet your individual needs.
Why should you use a broker?
Most lenders perceive land loans as inherently riskier due to fluctuations in prices and the notion that it can take longer to sell. Subsequently, they impose stricter lending requirements such as larger deposits and higher interest rates. Having a broker in your corner will allow you to thoroughly compare and assess your options; helping you secure the best deal.