LBPs
Licensing Building Practitioners (LBPs). A licensing system for the building industry covering designers and trades. From March 2012 certain critical building work will need to be carried out or supervised by a Licensed Building Practitioner.
Glossary - (L)
LIM Report
Land Information Memorandum. This is a document from the local authority which discloses a number of known features about the site. This may include location of stormwater and sewer lines and connection points, land zoning, wind zones, and soil types.
Long Run Roofing
Metal sheets overlapped which run the full length of a roof.
LVR
The Loan to Value Ratio is used when financing a home purchase. A higher LVR is currently accepted for new builds, meaning you can build a home with a lower deposit than if you were to buy an existing house.