What if my structures are changing (e.g., sole trader to company)?
We’ll pre‑position the application to explain changes and choose a policy that can accommodate them.
FAQ’s
Can I borrow to renovate?
Basic home improvements are different from adding another room. Both are possible but require a different strategy
When do I switch to principal & interest?
Most loans revert from interest‑only during construction to your standard repayments on completion.
Can I act as an owner‑builder?
Specialist policy applies and LVRs are often lower. We’ll outline viable lenders and alternatives.
Do I need a bigger deposit for construction?
Often similar to standard lending, but lenders look closely at contingencies, builder credentials and valuations.
Fixed‑price vs cost‑plus contracts — which do lenders prefer?
Most lenders prefer fixed‑price contracts to reduce cost‑overrun risk. We’ll match lender policy to your build type.
How do progress‑payment (construction) loans work?
Funds are drawn in stages (slab, frame, lock‑up, etc.). You usually pay interest only on funds drawn during the build.
Do lenders still offer cashbacks?
These change frequently. We focus first on long‑term value (rate, policy, fees, features) and only then consider any incentives on...
Can I access equity for renovations, a car or other needs?
Subject to policy and valuation, yes. We’ll confirm acceptable purposes and any documentation required.
Will consolidating debts into my home loan cost more interest?
You’ll likely lower monthly repayments, but the longer term can increase total interest without a plan. We’ll model options and...
