AAA Mortgages has advised Sydney borrowers on complex lending since 1988, and construction and development finance sits at the centre of that work. We come into the deal before you commit to a site and stay through DA, construction funding, residual stock and buyer finance. Most brokers arrange one facility and move on. We structure the whole capital stack across banks, non-bank lenders and private credit, so every stage is set up with the next one already in mind.
When developers come to us
Our development clients typically run projects in the $5M to $45M space. Large enough that the funding is genuinely complex, and commercial enough that outsourcing it to a specialist advisor beats building the capability in house. You will recognise at least one of these.
01.
PRE-ACQUISITION
You are weighing up a site and want certainty the funding follows through before you commit
02.
SLOWED OR DECLINED
Your bank has slowed down, or declined on policy rather than the commercial logic of the deal
03.
CAP STACK
The deal needs more than first mortgage debt. Mezzanine, equity, or a blend of all three
04.
RESIDUAL STOCK
The build is complete and you are holding unsold stock, or your buyers need finance to settle
The full lifecycle, one advisor
01.
Before you buy the site
We model the funding at every later stage before you commit to the land. You go into negotiation knowing the project can be funded through to completion, with quantity surveyors and valuers who understand development already recommended.
02.
Site acquisition
We arrange the acquisition facility, commonly structured at up to 80% LVR as residential investment or commercial lending depending on the site. The structure is chosen for where the project is going, not just what the land is today.
03.
DA and CDC approval
Planning approval changes what the site is worth and what lenders will do with it. We stay close through DA and CDC so the construction funding is already scoped, and the deal moves the moment approval lands.
04.
Construction funding and the capital stack
Bank or non-bank, first mortgage, mezzanine, equity. We structure the full capital stack and advise on the combination that protects your equity while keeping the project moving. This is the part of the market most brokers cannot work in. It is the part we have built our name on.
05.
Residual stock
If units remain unsold at completion, we arrange residual stock finance so you can sell down at the right pace, or hold and lease. You clear the construction debt without discounting your margin away.
06.
Buyer finance
We help your purchasers with deposit bonds and purchase finance, working alongside agency partners on sell-down. Your settlements de-risk, the project closes out cleanly, and the next site starts from a stronger position.
What a capital stack actually is
Opening:
A capital stack is the combination of funding layers that finance a development: senior debt, mezzanine debt and equity, ranked by who gets repaid first and priced by the risk each layer carries.
Senior debt:
First mortgage debt is the foundation. It is the largest and cheapest layer, secured against the property itself, and repaid first. Banks and non-bank lenders both operate here, and which one suits you depends on presales, timing and gearing.
Mezzanine debt:
Mezzanine sits behind the senior lender and ahead of your equity. It costs more, but it can reduce the cash you need to contribute, letting you run the project, or a second one, without tying up all your capital in a single site.
Equity:
Equity is your contribution and it carries the most risk, which is exactly why the structure above it matters. A considered stack protects your equity position rather than treating it as the default place to absorb every shortfall.
Why the structure matters:
Two projects with identical costs can produce very different returns depending on how the stack is built. Getting the structure advised properly at the start, rather than assembled facility by facility, is the difference between a funded project and a well-structured one.
Common questions
Recent work
Recent scenarios, anonymised but real: what the client came with, what made it complex, and how it was structured. This is what advisory-led lending looks like in practice.
SMSF · QLD
SMSF · QLD
Business owners purchasing their commercial premises through an SMSF. Lease expired, vendor deadline imminent. Previous lender unable to move in time.
Approved and settled on deadline
SMSF · QLD
SMSF · QLD
Business owners purchasing their commercial premises through an SMSF. Lease expired, vendor deadline imminent. Previous lender unable to move in time.
Approved and settled on deadline
SMSF · QLD
SMSF · QLD
Business owners purchasing their commercial premises through an SMSF. Lease expired, vendor deadline imminent. Previous lender unable to move in time.
Approved and settled on deadline