{"id":13804,"date":"2024-12-11T10:33:50","date_gmt":"2024-12-10T23:33:50","guid":{"rendered":"https:\/\/brighten.com.au\/resources\/media-centre\/brighten-launches-flexible-vacant-land-loan\/"},"modified":"2024-12-11T11:25:17","modified_gmt":"2024-12-11T00:25:17","slug":"brighten-launches-flexible-vacant-land-loan","status":"publish","type":"media-centre","link":"https:\/\/brighten.com.au\/zh-hant\/media-centre\/brighten-launches-flexible-vacant-land-loan\/","title":{"rendered":"Brighten launches flexible vacant land loan"},"content":{"rendered":"\n

Publication Date: Wednesday, 11 December 2024
This article originally appeared in<\/em> Australian Broker<\/a><\/em>.<\/p>\n\n\n\n

Brighten Land launched to address rising demand<\/strong><\/h3>\n\n\n\n

Non-bank lender Brighten has launched Brighten Land, a specialised financing solution tailored for vacant land buyers.<\/p>\n\n\n\n

Designed to complement Brighten\u2019s existing construction loans, the product aims to address increasing demand for flexible options among borrowers not ready to begin building immediately.<\/p>\n\n\n\n

Developed with insights from broker feedback, Brighten Land is available to a broad customer base, including Full Doc Prime, Alt Doc Prime, expats, and non-residents.<\/p>\n\n\n\n

It offers significant flexibility, with a maximum loan amount of $1.5 million at up to 75% loan-to-value ratio (LVR) and interest-only repayment options.<\/p>\n\n\n\n

Jason Azzopardi (pictured above), who was appointed Brighten CEO in January<\/a>, emphasised the product\u2019s value: \u201cBrighten Land reflects our commitment to continuously listening to brokers and responding to their feedback.<\/p>\n\n\n\n

\u201cWe\u2019re seeing growing demand from customers who aren\u2019t ready to start construction immediately but want the flexibility to secure the land or refinance their existing vacant land loans.\u201d<\/p>\n\n\n\n

Meeting market challenges and buyer needs<\/strong><\/h3>\n\n\n\n

Vacant land purchases remain a popular choice for families and first-home buyers looking to build homes in emerging greenfield estates. However, the rigid timelines of traditional construction loans, which typically require work to begin within 12 months, often fail to align with customer or builder schedules.<\/p>\n\n\n\n

The 2023 PEXA Residential Land Report<\/a> highlighted this trend, showing sustained interest in new home builds. Yet ongoing challenges in the construction sector, such as labour shortages, continue to delay projects.<\/p>\n\n\n\n

BuildSkills Australia earlier reported a need for 90,000 additional tradies by the end of 2024, but ABS indicated the industry is well behind target.<\/p>\n\n\n\n

Brighten Land addresses these pressures by offering borrowers up to two years to transition to construction, providing much-needed breathing room for their property plans.<\/p>\n\n\n\n

Brighten\u2019s continued focus on broker support<\/strong><\/h3>\n\n\n\n

\u201cLooking ahead, we will continue to focus on helping our brokers grow their business,\u201d Azzopardi said.<\/p>\n\n\n\n

\u201cWhether it\u2019s through innovative products like Brighten Land or our continued technology enhancements, such as the recent launch of ApplyOnline and the Brighten Broker Portal<\/a>, we\u2019re always looking for ways to help brokers deliver value to their clients.\u201d<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Non-bank lender Brighten has launched Brighten Land, a specialised financing solution tailored for vacant land buyers.<\/p>\n","protected":false},"author":1,"featured_media":5640,"menu_order":0,"template":"","meta":{"_acf_changed":false},"categories":[35],"tags":[],"class_list":["post-13804","media-centre","type-media-centre","status-publish","has-post-thumbnail","hentry","category-media-centre-zh-hant"],"acf":[],"yoast_head":"\nBrighten launches flexible vacant land loan | Brighten<\/title>\n<meta name=\"description\" content=\"Brighten's new flexible vacant land loan lets you invest easily. 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