Renovation & Construction Loans

Build your future with a renovation or construction loan.

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Add value to your property portfolio with a renovation or construction loan.

Building a new home or renovating an aging structure can lead to significant capital gains on your property, giving your more equity faster.

By taking out a renovation or construction loan, you can help finance your project with progressive drawdowns and interest-only repayments during construction, leading to lower expenditure, better cash flow, and greater overall savings.

Talk to us to find out how a construction loan can benefit your property.

It’s Time To Put Your Future First.

Construction Loans For Homeowners

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.

Construction Loans For Owner-Builders

Getting a construction loan as an owner-builder means you can finance your project even if you’re not a licensed builder.

Owner-builders are typically viewed as higher-risk borrowers, but that doesn’t make you ineligible for a loan.

We’ll work with you to help you borrow up to 75% of your project’s gross realisable value (GRV), even if you’re working on a small development or partially completed dwelling.

Talk to us to explore the construction loan options available for owner-builders.

The PMM advantage

Industry Experience

Our specialised brokers have an average of 15 years’ experience in the banking and financial sectors.

Rapid-response Support

Your loan matters, which is why we have an average client response time of just 38 minutes.

Results-oriented Approach

We’re here to finance your future – and that means brokering loans that lead to better outcomes for you.

Construction & Renovation Loan Calculator

Use the calculator to get estimates of your property loan repayments.

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FAQ

Most frequent questions and answers

A renovation, construction or building loan is a type of loan arrangement that lets you borrow money to either pay a licensed builder or fund an owner-builder construction with progress payments.

Because construction loans are specifically designed for completing building work, you can normally draw down your loan in different stages to accommodate progress payments.  This means you keep all payments within the same loan, but without incurring unnecessary interest.              

Many construction loans also have interest-only payment options during the build.  This makes cash flow for larger projects more manageable, especially if construction takes place over a longer timeframe.   

Yes, you can borrow money for a renovation.  Although you may have options like accessing property equity and taking out a personal loan, a renovation/construction loan may also be a good choice.

Depending on your financial circumstances, you may be able to refinance your mortgage to consolidate your construction and property loans into a single debt.

Build Your Future

Talk to our brokers about financing for construction or renovation projects.