A construction loan pays your builder in stages as the work progresses, and you generally pay interest only on what has been drawn. Getting the structure right from the start, including land, contract price, contingency and timing, helps keep your build on track. We help you get there before the first slab is poured.
Who it suits
People building a new home or investment property, or knocking down and rebuilding, under a fixed-price building contract.
Common purposes
- Building a new home
- Building an investment property
- Knockdown and rebuild projects
What we work through with you
- Land value, build cost and your contribution
- Progress payment stages and how each draw works
- Variations, contingency and the expected completion date
Documents to have ready
- Fixed-price building contract
- Approved plans and specifications
- Land contract or title
- Proof of income and details of existing debts
How we work
We start with a conversation about what you are trying to achieve and your timing. We then gather the information lenders will ask for and assess suitable options from our approved lender panel and relevant specialist channels. Before anything is lodged, you will know the costs, the trade-offs and why we are recommending an option. After that, we manage the application through to settlement.