Construction lenders vary, but a multiplex file usually comes down to five parts:
- The site. Title or purchase contract, survey, and a zoning and servicing check on the lot.
- The plans. Drawings and engineering reports, with the building permit issued or applied for.
- The budget. Line by line, backed by quotes, with a contingency line.
- The contract. Signed with a licensed builder: scope, price basis, schedule and warranty enrolment.
- The exit. How the loan is repaid: strata sales (comparable sales and a timeline) or a refinance (rents and the debt service they support). Lenders typically order an appraisal of the completed value.
One BC detail to build into the draw schedule: the Builders Lien Act requires a 10% holdback on progress payments.
We will start with the budget and schedule.
Send the address and we’ll run a free desktop check of what it appears to allow, within two business days.
Request a lot check →BC Builders Lien Act, SBC 1997, c 45, s. 4 (10% holdback on progress payments). BC Housing: licensed residential builders must provide home warranty insurance under the Homeowner Protection Act. No statistics are used in this post. The five parts describe typical lender file contents; requirements vary by lender and program.
General information, checked Nov 3, 2026. Rules change and differ by municipality; confirm for your lot before relying on it. Not legal, tax or financial advice.