Construction Loans
We'll manage the money side while you manage the build
Building or buying a new home is complex. Construction finance is different from a standard mortgage. We'll make sure you've got the right funding at each stage.
Talk to us about your buildWhat we help with
Construction loans work differently than standard mortgages. We'll handle the technical side so you can focus on getting your home right.
Progress payment setup
We'll arrange funding that releases in stages as your build progresses. So you pay the builder as they hit milestones (foundations, framing, lockup, etc.), not all upfront.
Drawdown management
We coordinate with the builder and the bank. When you hit a stage, we arrange the drawdown so the money's there when you need it. No delays, no cash flow problems.
Builder contract review
We'll review your fixed-price contract to make sure there aren't surprises in the funding. We'll spot potential cost issues early so you're not caught off-guard.
Access to all lenders
Not every lender does construction finance, and rates and terms vary wildly. We shop around so you get the best option. This could save thousands over the build period.
How we set up your construction loan
Pre-approval
We'll get you pre-approved for the amount you need, based on your plans and the land or deposit you've got. This usually takes 5-7 working days and gives you confidence to proceed.
Builder contract review
Once you've got a builder quote, we'll review the contract with you to spot any funding gaps. Fixed-price contracts are good, but we want to make sure there's no hidden surprises.
Drawdown management
As construction progresses, we'll coordinate each drawdown with the builder and the bank. We'll make sure funds are released on time at each milestone, and handle any changes to the plan.
Construction finance questions
What's the deposit on a construction loan?
Usually you need 10-20% as a deposit. The exact amount depends on the lender, the builder, and whether you own the land. If you own the land outright, some lenders will count the land value, which can reduce your cash requirement. We'll work through your options.
What if construction costs blow out?
This is why fixed-price contracts are important. If you've got a fixed contract and costs rise, that's the builder's problem, not yours. But if you're doing variations (extra features, changes), those need funding too. We help you figure out where you can fund changes and what you can afford.
How do progress payments work?
Most builders work on a standard schedule: 10% on contract, then payment at key milestones like foundation, framing, lockup, internal fit-out, and final completion. We arrange the loan so funds release at these stages. The bank usually gets a progress report from a registered valuer before releasing each amount.
What happens when the build's finished?
Once construction is done, the loan usually converts to a standard mortgage. If you've drawn your full construction facility, you'll have the balance on the home loan at the standard rate. If you've under-drawn, you might have extra borrowing capacity. We'll help you understand your options.
Planning a new build?
Let's chat about your plans and get the construction finance sorted before you sign with the builder.
Discuss your build plan