Renovation & Construction Loans

Renovating or constructing a home can be stressful, both financially and mentally.  Unless you’re a qualified builder, you’ll probably need to outsource most of the work to experienced contractors, which is often very expensive.

A construction loan can help you get the funds you need to complete your renovation or construction – once work is complete, your property should have a significantly higher value, which means you can the equity as collateral (either for refinancing a loan or buying an investment property).

As long as your project is being delivered by a qualified builder, you can borrow up to 85% of your project’s gross realisable value (GRV), making it easy to add value to an undeveloped block or aging building.

You might also be eligible for progressive drawdowns and interest-only repayments during construction.  Building contractors are typically paid in progress payments, so lenders are often willing to let you draw down your loan in different stages during construction, minimising the amount of interest you’ll need to pay.

With the right construction or renovation loan, building your wealth through property is simple. 

Contact our team to explore your borrowing options.