Construction Loans
Building a home comes with a different finance process. We help you understand how construction lending works and what you may need throughout the building journey.
About this service
Finance guidance built around your circumstances.
Planning to build your new home? Construction finance works differently from a standard home purchase loan. We can help you understand construction lending and explore available options.
Every borrowing situation is different. Your income, financial position, goals, property and the lender's assessment criteria can all affect the options available to you.
Our role is to help you understand the finance process, discuss your requirements and explore lending options that may be suitable for your circumstances.
Who this may be for
This service may be relevant to customers in situations such as:
- People planning to build a new home.
- Customers purchasing land and planning construction.
- Borrowers replacing or rebuilding an existing property.
- Customers looking to understand construction loan requirements.
How we can help
Depending on your circumstances, we can help you understand areas such as:
- Understanding construction loan structures.
- Discussing land and construction finance.
- Explaining progress payment structures.
- Understanding lender documentation requirements.
- Exploring available construction lending options.
- Supporting the application process.
Things to consider
Your circumstances matter.
When assessing a lending option, there are several factors that may need to be considered. The exact requirements depend on the lender and your individual circumstances.
Land purchase price.
Building contract and construction costs.
Your deposit and available funds.
Builder and construction documentation.
Progress payment requirements.
Lender construction policies.
Why work with us
A simpler way to approach your finance.
Understand how construction finance works.
Explore available construction loan options.
Understand progress payment requirements.
Receive support throughout the finance process.
Our process
From conversation to next steps.
The exact process can vary depending on your circumstances, lender and finance requirements. Generally, the journey can look like this.
Discuss your building plans
We discuss your land, building plans, estimated costs and finance requirements.
Review your financial position
We review relevant income, expenses, liabilities and available funds.
Explore construction finance
We discuss construction lending options available through our lender panel.
Prepare documentation
Relevant building contracts, plans, quotes and financial documents may be required.
Lender assessment
The lender assesses your application and the proposed construction project against its criteria.
Progress payments
Following approval, construction finance is generally released according to the lender's agreed progress payment process.
Getting prepared
Documents you may need.
The documents required will depend on your circumstances and the lender. These are examples of information that may be requested.
Identification documents.
Income evidence.
Land contract where applicable.
Building contract.
Building plans and specifications.
Relevant construction quotes and documentation.
Frequently asked questions
Questions about construction loans?
How does a construction loan work?+
Construction loans are generally structured so that funds are released progressively as construction reaches agreed stages. The exact process depends on the lender and loan structure.
Can I finance both land and construction?+
Depending on your circumstances and the lender, it may be possible to structure finance for both the land purchase and construction.
Do I need a fixed-price building contract?+
Requirements vary between lenders. A lender may require specific building contracts and documentation before approving construction finance.
Let's talk
Ready to talk about your finance goals?
Start with a conversation about your goals and circumstances. We'll help you understand the next steps and the lending options that may be available to you.
Construction lending requirements vary between lenders. Building costs, contracts and finance are subject to lender assessment, criteria and approval.