NSW Building Commissioner David Chandler OAM backs active lending to drive confidence in property market

AltX

Speaking at an AltX event for the construction industry this week, NSW Building Commissioner Mr. David Chandler OAM highlighted active lending as a prudent approach that can be used to attract consumers and investors in the future.

“We need people to understand the way in, the stay in and the way out so people can invest with greater confidence. Active lending is critical to heed off problems. Financiers have taken their eye off the ball so development drawdowns are frequently not compliant with property standards.”

A leading provider of real estate debt investments, AltX takes an active lending approach to all its investment opportunities, preserving capital while delivering better quality construction products to market.

AltX Co-CEO and Co-Founder, Nick Raphaely said given the challenging year in the property market and the impacts of COVID-19 and inflation, investors want to be confident in the knowledge that their property investments are thoroughly evaluated on both the credit and property development side.

“Not all construction projects are the same. We maintain a tight funnel in scrutinising deals and this means only a small proportion of deals presented to us are ultimately funded. We lead with our own capital and bring in investors alongside us.”

This means AltX works closely with the developer and builder on every project to pre-empt any issues or delays while also ensuring the Office of the NSW Building Commissioner compliance requirements are met.

A point of difference in the market, AltX’s project management team includes specialists with a range of expertise including an architect, surveyors, engineers and planners, who visit development sites at least fortnightly and ensure projects are built on budget and on schedule. Further, AltX’s rigorous due diligence process builds realistic contingences into each project to protect debt investors’ capital.

While the current significant undersupply in property and the dramatic fall in the rental market presents opportunities for residential property investors, Mr. Chandler highlighted the market is ripe

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