A construction loan pays your builder in stages as the work is done, so you only pay interest on what's been drawn. We'll help you line up the right lender before you sign a building contract, and manage each payment through to handover.
The lender pays your builder at set milestones, typically the deposit, slab, frame, lock-up, fixing and completion.
During the build you usually pay interest only on the amount paid out so far, which keeps early repayments lower.
The lender values your land plus the finished home, based on your plans and building contract.
You can finance the land purchase and the build under one loan, or add a construction loan to land you already own.
Most lenders want a fixed-price building contract from a licensed builder, plus council-approved plans and specifications. Talk to us before you sign, so your finance and your contract line up.
Plan for costs the contract may not cover, such as landscaping, driveways, fencing and window coverings. Lenders won't always fund these, so it's important to budget for them.
If you're a first home buyer building a new home, you may be eligible for your state's First Home Owner Grant. In Victoria, for example, it's $10,000 on a home valued up to $750,000 (checked November 2026).
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Land, build and extras, including the costs lenders won't fund.
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So you can buy land and sign a contract knowing your finance is lined up.
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We organise the valuation and formal approval.
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We help coordinate each payment request with your lender and builder until handover.
Many lenders want 10% to 20% of the total land and build cost. With less, you may need lenders mortgage insurance or a government scheme.
Cost increases usually need to come from your savings unless the lender agrees to increase the loan. That's why a fixed-price contract and a buffer matter.
Some lenders will consider it, but options are limited and conditions are stricter. We can tell you what's available for your situation.
Usually once the build is complete and the final payment is made, the loan switches to regular principal-and-interest repayments.
This information is general in nature and doesn't take into account your objectives, financial situation or needs. Government grant eligibility and amounts can change. All loans are subject to lender approval, and terms, conditions, fees and charges apply.
Talk to us before you sign a building contract. It costs nothing and doesn't affect your credit score.
