Construction Finance

Construction loans

If you’re building a new home or planning major renovations to your existing home, a construction loan is generally the most appropriate funding option. The difference between a construction loan and other types of loans is that a construction loan is drawn down in stages and not paid as a lump sum. The draw downs enable the builder of a home to finance the various stages of the construction process from the acquisition of land to the various stages of building.

Development loans

Subject to each lender’s credit policies these loans fund land purchase and settlement costs, pre construction costs, professional fees, construction costs, loan costs, interest, marketing costs etc. Each loan is assessed on its merits and the lender takes into consideration a multitude of factors including time, risks, product being developed, location, competition, supply and demand, developer’s experience and track record, market conditions, selling strategy, number of pre-sales, reputation of the builder etc. Interest rate charged by the lender can vary according to the above assessment. These loans are interest only. The loan is usually repaid from sales proceeds. The borrower needs to contribute equity towards the development.

Non conforming loans

These loans help those clients who have had issues with finances, mainly due to unexpected changes in circumstances, eg temporary unemployment or short term inability to pay debts. We can identify the lenders who can match your personal circumstances. The value of your property and your capacity to repay will determine a non conforming loan, however these loans can attract a higher than normal interest rate.

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SYDNEY

Level 1, 14-16 Suakin Street,
Pymble NSW 2073
PO Box 5307 Turramurra, NSW 2074
Phone: (02) 9440 1555
Fax:(02) 9475 5102
Mobile: 0422 000 034

LICENCE DETAILS 

ACN: 104 077 170
ABN: 33 104 077 170
Australian Credit Licence Number
388706

NEWCASTLE

8/149 Ambleside Circuit,
Lakelands NSW 2282
PO Box 631 Toronto, NSW 2283
Phone: (02) 4953 6800
Fax: (02) 9475 5102
Mobile: 0418 634 428

CONTACT US FOR

SUNSHINE COAST

K1 Kawana Lvl 2 Unit 10/16 Innovation Pkwy
Birtinya QLD 4575
PO Box 908 Buddina, QLD 4575
Phone: (07) 5493 5888
Fax: (02) 9475 5102
Mobile: 0410 574 505

FURTHER INFORMATION