MORTGAGE BROKER - CONSTRUCTION LOANS
There’s a lot to coordinate when building a home. We help you plan the budget, compare construction loans and understand how the funding works.
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A construction loan links your finance to the building schedule. Here’s how it generally works.
The lender assesses your finances, proposed build and what the property is expected to be worth when finished.
Funds are released as work progresses through payments called progressive drawdowns.
Interest is charged on the amount drawn. As more funds are released, your interest costs increase.
Base
Frame
Lock-up
Fixing
Completion
PLANNING THE WHOLE BUDGET
Look beyond the contract price to what you can comfortably afford.
Land, construction and costs outside the building contract.
Savings and usable equity, including when your funds will be needed.
Rent, existing repayments and everyday expenses during the build.
Room for unexpected costs, changes and a longer build.
Your loan won’t automatically cover extra costs. We help you identify potential funding gaps before you commit.
WHY THE FINANCE ARCHITECT
The right loan needs to fit your project and your life. We help you weigh up the options and make informed decisions along the way.
One view of your finances: We consider how the build fits with your current mortgage, cash flow and plans for the property.
Clear reasons behind the recommendation: We explain why a loan suits your circumstances, including its costs, conditions and trade-offs.
Support beyond completion: Our support continues after you move in. If you’d like more direction, our Debt-Free Home Strategy provides a longer-term debt reduction plan.
OUR PROCESS
01
Discuss your plans, timing and what matters most to you.
02
Review your borrowing capacity, project costs and available contribution.
03
Compare suitable lenders and recommend a loan structure for your build.
04
Coordinate the application and guide you through progress claims and staged payments.
05
Review your loan after completion and as your circumstances change.
CLIENT EXPERIENCES
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FREE CHECKLIST
Six checks to work through before you sign a building contract, from what the lender will value to the costs that sit outside the contract.
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CONSTRUCTION LOAN FAQS
Ideally, while you’re still considering land or a building contract. That gives you time to check the funding before making a binding commitment.
Construction finance may suit a custom build, house-and-land package, knockdown rebuild or major renovation. Eligibility and funding requirements vary by project and lender.
You don’t need final plans to get started. Bring what you have, and we’ll work through the next steps.
There’s no single deposit requirement. The amount depends on your project cost, the lender’s valuation, your borrowing capacity and lending criteria. Usable equity in land or another property may form part of your contribution.
The lender generally considers an “as if complete” valuation - an estimate of what the property will be worth once built. If this is lower than expected, you may need to contribute more.
As well as evidence of your income, expenses and debts, lenders generally require a building contract, plans, specifications and builder details. Permits, registration and insurance documents may also be needed.
Not everything is required upfront. We explain which documents are needed for assessment, approval and the release of funds.
Repayments may be interest-only or principal-and-interest, depending on the lender and approved structure.
With interest-only repayments, you pay interest on the amount drawn without paying down the debt. Principal-and-interest repayments also reduce what you owe. We explain how your repayments work during construction and afterwards so you can budget for both.
Changes to the build can affect your funding:
Costs increase: You may need to fund the shortfall yourself or apply to borrow more. Additional borrowing is subject to lender assessment and may delay payments.
The contract changes: The lender may need updated documents or a revised valuation.
The build is delayed: Approval validity and construction deadlines may need checking with the lender.
Speak with us before agreeing to changes, or as soon as a delay arises, so we can assess the impact on your finance.
Before releasing the final payment, the lender generally checks the completed property and requires relevant completion and insurance documents.
The exact requirements depend on the lender, project and state.Your ongoing repayments follow the agreed loan terms. We go through these with you, including when any interest-only period ends.
A Discovery Call can clarify your budget, funding options and next steps.
Book a Discovery Call →