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Construction Loans.
Looking to build or renovate? Our construction loan services support your dreams.
Features and Benefits
Construction Loans have Interest Only payments during the construction period, meaning your repayments are lower throughout this time.
Features and Benefits
You can make additional payments into your Construction Loan at any time. This reduces your loan balance and means you may pay less interest.
Availability
A Construction Loan is only available for houses built and kept for personal investment or residential purposes and not for building dwellings that you plan to sell immediately.
How Construction loans Help You Build or Renovate
If you want to renovate or build your home, we’re ready to help you, whether it’s your first time or not.
Construction stages release funding.
Paying in stages during construction is called progress payments. It helps track the building progress and ensures payment is only for completed work.
Pay interest only until construction is complete.
No need to pay back full loan amount during construction. Keep extra cash for unexpected expenses or rent while building.
Ideal for large renovations
Use a construction loan to build a new home or finance a major renovation.
Your Construction Loan questions answered
Whether you’re undertaking major renovations, demolishing an existing property, or starting fresh with a new build, a Construction Loan could be the right fit for your needs.
A construction loan is like a regular home loan, but with a few key changes while you're building. First, you get the money bit by bit as the construction progresses, so you only pay for what's done. Second, you only pay interest on the loan until the building is finished.
You can switch your construction loan to a new lender, but it might involve more paperwork and details. These loans are often more complex, so be ready to provide extra information.
A construction loan is similar to other home loans. If you're using one to finance a new home build, you'll typically need to provide a deposit or pay for Lenders Mortgage Insurance (LMI).
During the building process, you'll need to make repayments on your loan, but not necessarily the full amount. Payments are made in stages as construction progresses, so you only pay for the work that's finished at each stage. Additionally, you'll only pay the interest on the loan during this time, which helps keep your repayments lower.
We work with more than 30 Lenders
We work with 30+ lenders to provide you with tailored options at discounted rates. Our commitment is to offer flexibility, choice, and savings for all your financial needs.
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