06 Building
Construction and renovation loans
Progress-payment lending for a new build, a knockdown rebuild, or a renovation big enough to need the lender involved.
A construction loan draws down in stages against your builder's fixed price contract, and the lender values the property on completion rather than as it stands today. That means the contract, the plans and the schedule matter as much as your income does. We have run enough of these through the newer estates at Fletcher, Minmi and Cameron Park, and enough renovations on the older stock closer in, to know exactly where they stall and what to send the lender first.
What is included
- Fixed price contract, plans and specification reviewed before lodgement
- On-completion valuation arranged and managed
- Progress payment schedule set up with the lender and the builder
- Support at each drawdown through to final inspection
No fee to you
No fee to you. Construction lending is lender-paid like any residential loan, and the commission is disclosed on every option.
Book a build chator call (02) 5550 0020
02How it runs
5 steps, in this order
Typical first appointment: 60-90 min first appointment. You are told which step we are on, without having to ask.
- 01 Review the builder's contract, plans and specification
- 02 Match a lender whose construction policy fits the build
- 03 Lodge with the on-completion valuation
- 04 Set the progress payment schedule with you and the builder
- 05 Manage each drawdown and the final inspection
03Asked often
Before you ring
If your question is not here, it is probably on the FAQ page, and if it is not there either, ring and ask.
When do repayments start on a construction loan?
You generally pay on what has been drawn down so far, so the payments step up as the build progresses. We map that against your rent or your existing repayments up front, so frame stage is not a surprise.
Can I use my own builder, or owner build?
A licensed builder on a fixed price contract is straightforward. Owner builds are possible with a small number of lenders and come with tighter conditions, and we will be upfront about how much harder that path is before you plan around it.
What happens if the build runs over time?
It happens on plenty of jobs. Most lenders allow an extension to the construction period, and the earlier you tell us the easier it is to arrange.
What people usually pair this with
10The first chat
Start with the first chat
Sixty to ninety minutes, at your table or ours, evenings available. Nothing to pay and nothing committed. Long enough for us to tell you what is actually possible and whether we are the right fit.
What to bring
- Recent pay slips, for both of you if you are buying together
- Three months of bank and credit card statements
- Photo identification
- A rough idea of what you already owe
- Two years of financials and tax returns, if you are self-employed
Or skip the form
(02) 5550 0020- Mon to Wed 8:30am to 5:30pm
- Thu 8:30am to 7:00pm
- Fri 8:30am to 4:00pm
- Sat 9:00am to 12:00pm, by appointment
- Sun Closed
Evening and weekend appointments are normal in this trade. Leave a message on the office line or text Marty on 0491 570 156 and you will hear back the same day.
Thanks, that is everything we need
Demonstration only. Nothing was sent and nothing was stored. On a live site this would reach hello@junctionhomeloans.com.au and a booking would be confirmed by phone.