The loan approval processes for building or buying in Sydney are similar, but a construction loan works a little differently.
Did you know?
- Your builder receives staggered payments directly from your lender at certain construction milestones, such as clearing the site, laying the foundations, framing, and installing plumbing/electrical.
- Lenders typically prefer variable interest rate loans during the build phase, but fixed-rate options are available too.
- Repayments are normally interest-only during construction.
- Valuations are typically required before and after build completion.
Don’t worry. we take care of all that for you. We have access to an extensive range of construction loan products. We explain all your options and then help you work out which one is right for you.
Milad Mousavi is our Sydney Mortgage Specialist. He’s a qualified Chartered Accountant with a Masters Degree in Commerce and is a member of the Mortgage and Finance Association of Australia. He knows his stuff, and he’s ready to help get you into your dream home today.
Contact Milad today for a free personalised consultation that will give you clarity and help you save time and money.
