Construction Loans

THE RIGHT HOME LOAN  >  Construction loans

Choosing Sydney’s best construction loans

Construction loans are used when you‟re looking to either build a new house or make extensive renovations to an existing property. During the construction period, you‟re often able to choose to make interest-only repayments on loans. Construction loans are always variable rate loans that can be combined with your home loan.

What do I need?

Lenders generally require the following information to process your construction loan:
  • Signed building contract
  • Council approved plans
  • Construction certificate (NSW)
  • Builders‟ insurance (certificate of currency)
  • Builders' indemnity/public risk insurance ($5 million minima for most lenders
Typically, a lender will request that your loan is drawn down during the construction period through progress payments. This involves asking your lender to pay the builder for part of the completed work made on your property to date. As each progress payment is made, your loan limit and debt level
increase.

What we do

There‟s a lot to understand about construction home loans. While we do our best to fully describe each loan and feature, some factors depend on your status and future plans. 

Our site acts as a guide to understanding the complexities of loans, helping you work out which loans will help secure a stable future for you and your family. As always, our goal is to find the best loan for you and your situation, offering ongoing support throughout the life of your loan. The relationship we form encourages you to consistently contact us and take full advantage of our expertise in all things related to your home loan. 

Be sure to consult with us before deciding on any loan products or options.

Ready to build? Call us on (02) 9982 8014.

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