At Amblemead, we are dedicated to providing you with a personalised service at every stage of your home-buying journey. We know that our friends at Funding Options will be able to provide that same level of service when it comes to organising your home loan. We recently chatted with Dom Cassisi, Managing Director of Funding Options, who provided some insight on the lending for a land purchase and build.
We want to know, where did your story begin?
I’ve always had a keen interest in property and finance. During my football career, I was mentored by a prominent finance broker here in SA and he assisted me in putting a plan in place to get the relevant qualification. I was also fortunate to do some part time work within his firm where I really developed a passion for assisting people to achieve their goal of purchasing a property and providing a service to them that made the home loan process as easy as possible.
How do you get to know a new client?
I get to know a client by spending time having a general discussion about where they currently live, their occupation, are they married, any dependants etc. The discussion then leads to me providing them with our value proposition and outlining of the loan process. It is important to build rapport and trust with our clients, so we always follow up the prospective client with a phone call the next day to ensure that they were comfortable with the initial meeting and were provided with all of the relevant information to make an informed decision.
How do you work with a client who has a few different financial objectives?
We always tailor the lending/finance to suit the client’s needs. We provide an outline of how the situation looks on both a best case scenario and worst case scenario so that they can make a calculated decision on what would best suit their lifestyle and financial objectives.
Can you explain your client service philosophy and how you ensure each client receives personal and professional service?
Our whole objective is to find the most competitive home loan and product to suit the needs of our clients. Everyone has a different set of circumstances and at Funding Options we tailor a lending solution to meet these individual requirements. Purchasing a property is obviously very exciting, but facilitating the finance can be quite daunting.
Our ability to be flexible with appointment times and meeting locations offers our clients a high level of convenience. Our accreditation with lenders and industry experience ensures that we offer professional advice and we know our clients appreciate the quality of our service.
Finally, we act on behalf of our clients to negotiate the cheapest interest rate that the market has to offer. Quite simply, when you sit down with a Funding Options finance consultant you are sitting in front of 25 lenders with over 1000 different products and, it costs you nothing.
Traditionally, what type of loan is taken out for buying land and building?
For someone looking to purchase land and build, it will involve two separate loan applications. The first loan application would be a standard home loan to settle on the land purchase. The second loan application would be a construction loan. A construction loan would require us to provide the bank with a Fixed Price Building Contract supplied by the builder. We would then facilitate a valuation based on the completion of the project and the bank will approve the funds needed for the construction. The Fixed Price Building contract consists of a Progress Payment Schedule and as each stage of the construction is completed the builder will receive payment from the lender.
What are your top 3 recommendations for people who are looking to call Amblemead home?
- Identify your borrowing capacity
- Understand what your monthly commitment is going to be
- Are you earning a great income but finding it hard to save for a deposit? Have you had a discussion with your family to see if they can provide a family pledge/guarantee? Looking into options like the above could help make the purchasing process less stressful and Dom and his team are here to work through those with you!
We thank Dom for taking time out of his busy day to answer our questions. We are excited to have Funding Options as part of the Amblemead Community! Check out our Blog for more helpful articles.