Flexible construction finance for 1-2 residential dwellings.
Our construction loans suit borrowers looking to complete construction of a single dwelling right through to small-medium development projects.
Our highly competitive construction loan product is suitable for the construction of 1-2 residential dwellings.
Our flexible construction loan supports both full document and low document loan types and can accommodate single dwelling builds for new homes, investment properties and or dual occupancy townhouses/villas.
Our construction loans work on a progressive draw down basis, usually in line with your domestic building contract.
Once the dwelling(s) are complete the residential construction loan converts into a standard home or investment loan.
Talk to one of our specialist lending managers today about our flexible construction loan products can help you build your property goals.
Construction Loan Features
Our highly popular construction loan products come with flexible features and competitive rates tailored to your unique situation.
Note: All applications are subject to normal credit assessment and loan suitability criteria. Terms and conditions, fees and charges apply. Minimum loan advance is $250,000.
Construction Loan Benefits
Here are some of the benefits of our popular construction loan products.
Qualifying for a Construction Loan
Construction Loan Progress Draws
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How We Help Others
Construction Loan FAQs
Yes, we can accomodate a conditional approval for a construction advance with a fixed price quote from a licensed builder in lieu of a completed building contract.
This is a common issue, we would strongly suggest that you never ever start a building project without a formally approved loan to cover at the very least the full amount of your building contract. We can only assist with a loan to complete a partially completed property if the construction project is at fixing stage.
Typically, a construction loan will be based on whichever of the following is the lessor: hard costs (land value plus building contract sum inc gst) or the on completion value of the dwelling(s).
We can assist with a construction advance, but we are unable to finance any demolition or works that are not directly attributed to property improvements. This is because they do not directly relate to the security that is being financed therefore the land would need to be cleared at your own cost.
Depending on when you are looking at commencing construction after settlement, we can assist with both the land and construction advance within one loan application. Typically to complete this we would require that construction commence within 3 months of settlement. If you are not ready to construct this soon after purchasing your land, we can assist with vacant land finance in some instances.