Build it through our BUILD NOW PAY LATER All-in-One service. This is tailor-fitted to land (or uncompleted building) owners wanting to build or complete their house or commercial property today but lack the resources to do so.
A. Mandatory Land Ownership
Without you owning land, free and clear (unencumbered), you cannot use this service.
If you have already bought your land and do not have the funds to construct and/or develop the property, you apply to us, and your application is almost always guaranteed so long as the land with the property to be constructed on is without any encumbrances and adequate as a collateral, together with the yet to be constructed property. In order words, this is like design & build plus financing in-situ.
The land for which the project is to be constructed on MUST be in the personal name(s) of the applicant or a registered business or company the applicant is a shareholder of and not third-parties.
The only acceptable Proof of Land Owner is a Registered Land Title Certificate or Indenture/ Deed and NOT receipts of your payment for the land.
Please don't apply or contact us if you don't have land in your own name(s).
B. Project As Collateral / Security
No additional collateral required for this Development & Construction On Credit Service - Your land and yet-to-be constructed building will serve as the collateral. If customers refuse to honour their loan obligations, the property will be sold to offset outstanding loan balance, but not without exhausting our Repayment Assistance Programme already in place.
C. Detailed Plan of the Project
Create a list that identifies and prioritizes every piece of the project, from the size of the floor drain in the garage to the shape and style of the shingles on the roof, giving us a framework we can use to keep the borrower and project in line.
Once done, we review all of the specifications, considers the value of the land, the finished product and similar projects in the neighborhood to make an estimated appraised value. This is the initial amount from which we calculate the Loan-to-Value (LTV).
D. Project Types
We have options for both Residential and Commercial Projects.
E. The Process
Once, you signup after meeting the requirements, we deliver the above options via well thought plan and/or processes to achieve our seamless, quick and prompt delivery.
F. Maximum Payment Terms
You may opt to pay your amortization up to 20-30 years maximum for the lender. Our partner lenders have flexible payment terms that you can choose from. Most of our clients opt for a longer payment period and then accelerate it by paying more whenever they have extra cash. You may note that there are no early repayment charges and in most cases, you get a rebate for your advance payments.
G. Monthly Payments
This would depend on the cost of the home or commercial property you want to build. Prices will differ based on these basic factors – total size of your home or commercial property, preferred materials to be used, complexity of the design, terrain profile, etc etc.
H. Payment Start
You will start an equal monthly amortization for the payment terms you choose after the house is fully completed. For example, if the construction period is 10 months, your first payment will start on the 11th month from groundbreaking date.
I. Sample Designs
Customers are entitled to bring their own designs, but if you need samples -- yes we have. We have a wide array of residential and commercial architectural designs for you to choose from. We will also accommodate a build to order project with specific tailor-fitted designs. Just tell us what you have in mind or what are your building requirements and our team of architects and engineers will translate this into a visual representation.
J. Building Permits
Permit to build have expiration dates. If you've already started building your structure then, date of expiration automatically does not apply, but applies if you're yet to start your construction but possesses a building permit, then you have to submit it to us to validate it - either to go ahead with it if still valid or we can re-apply on your behalf before actual construction can begin.
If you have an uncompleted building without a valid building permit, you're required to procure a valid building permit before applying to us or contacting us - We DON'T touch uncompleted buildings without a valid building permit.
We procure building permits for projects that have not started at all, as part of total service cost.
K. Applicable Fees
Fees & Charges apply to use our services. However, you can always opt for our No Upfront Fee options where you do your searches yourself and statutory bodies send us the results directly. See here for full fees and charges.
L. After Complete Application
After we have received your complete application with all supporting documents, we will visit your site within 7-60 days to complete an initial appraisal, after which a report will be generated. If our report is accepted with/without any amendments we move to site within 7-30 days to start work.
It typically takes a maximum of 90 days (mostly less than 60 days) for residential projects to be completed without compromising on quality.
M. How to apply
Complete a short form here to enable us proceed from there.