November 05, 2015
Used to finance the construction of dwellings. Generally, funds are drawn down as the dwelling is built rather than in one lump sum.
What is required;
- Tender or Copy of a Fixed Price Building Contract
- Copy of Plans (approved by council)
- Evidence that construction undertaken or supervised by a registered & insured builder
- Details of insurance for builders risk
Progress Payments (generally made in following stages);
- Slab or base Floor
- Fit Out
Extra fees can apply and repayments are generally interest only during the construction phase although these change between lenders.
So if you're looking at building your home - contact Mortgage Choice.
With 25 lenders on our panel, it's like to talking to 25 bank managers at the one time.
So now is a perfect time to contact us and see how we can help you.
To find out more - contact us at Suite 5, Rodway Arcade, Nowra NSW 2541 on 02 4422 4062