Before you commence any construction project, it is crucial to first understand how much you can borrow.
Construction Loans
Before you commence any construction project, it is crucial to first understand how much you can borrow and how you will be able to manage all associated costs of the development.
While financing a construction project can feel like a daunting process for both new and sophisticated investors, having a mortgage broker by your side can make the process easier.
With access to over 50 lenders, including major banks, non-bank lenders and private funders, our team can help you secure a loan from anything between $1,000,000 to $500,000,000.
To learn more about construction loans, continue scrolling…
What our customers have to say...
Lisa had made the whole process extremely easy and has helped guide us smoothly throughout. Couldn’t recommend Lisa highly enough. Cheers
Justin Noonan
Lisa was fantastic dealing with. She made it so easy, quick & seamless getting my loan approved. Highly recommend Lisa!!
Elida Behari
I have dealt with Lisa from Collective Financial Solutions to secure 2 loans now. On both occasions Lisa ensured my desired outcome in a smooth and timely manner.
Davina Hollands
Loan Features
The feature of a Construction Loan involves a number of stages.
- Flooring Stage (during the concrete or timber flooring).
- Framework Stage (during the development of framework).
- Lock up Stage (windows, doors, walls).
- Fit Out Stage (bathrooms, kitchens).
- Completion Stage (completion of the property).
How Construction Loans work
- During the construction of the property, the loan will be interest only.
- Payments to your builder will be conducted at the end of each stage.
- At the end of each stage, a valuation will be conducted.
- On completion of the property, the repayment structure will change to a flexible home loan.
- On completion, a final valuation will determine the value of the property.
How do I qualify for a Construction Loan?
To qualify for a Construction Loan, it is mandatory that you provide council approved plans and a fixed price tender from a qualified registered builder. During the construction of the property, a copy of the builder’s insurance must be valid.
Construction Tips:
- Find a suitable area
- Visit a number of display homes for ideas and obtain any information.
- Gather at least three or more quotes.
- Compare the quotes.
- Contact the Licensing Authority to check for any claims against the builder’s license number.
- Evaluate past constructions that the builder might have completed.
- Speak with your solicitor before entering a contract with the builder.
- If you are unclear of any details, please ask your builder to explain these elements.
Contact Us
Our team will help you search, choose and settle your loan. Chat to one of our loan specialists at a time that suits you.
General Enquiries
Lisa – 0418 174 003
Sam – 0437 987 417
Email
Lisa – lisa@collectivefs.com.au
Sam – sam@collectivefs.com.au
