Construction Loans

Building a home or undertaking major renovations can be an exciting journey, but it also requires careful financial planning. WealthStreet Mortgage Brokers, based in Sydney, offers expertise in construction loans to help you access construction loan options from banks and lenders across Australia. Whether you're buying off the plan, planning a new build, or considering major home improvements, we aim to make the process as seamless as possible. With our guidance, you can focus on creating your dream home in your ideal location while staying within your price range.

When it comes to construction loans, understanding the specifics is crucial. Unlike traditional home loans, construction loans are structured to support the various stages of a project. This means you'll only be charged interest on the amount drawn down, making it a cost-effective option. As you reach different construction milestones, funds are released in instalments, known as progress payments or a Progressive Payment Schedule. These payments align with the ‘as if complete’ valuation of your property, ensuring you only pay for work completed by plumbers, electricians, or your registered builder. This method also facilitates paying sub-contractors and covering expenses like council plans and permits.

Applying for a loan with WealthStreet Mortgage Brokers is streamlined for efficiency. We understand the importance of commencing building within a set period from the Disclosure Date and can help you make a plan that aligns with your timetable. Our approach includes outlining a Progressive Drawing Fee structure and interest-only repayment options to ease cash flow during construction. By working closely with you, we ensure that development applications and council regulations are met, avoiding potential delays due to council restrictions. Additionally, we guide you through understanding Out of Contract Items not included in your loan, so you can budget accurately for additional payments.

Choosing suitable land and preparing for a new build involves many considerations. Whether you're demolishing an existing property or starting from scratch, our team can support you through the process. From assessing the site for council restrictions to negotiating the ideal price range, we're with you every step of the way. Our comprehensive service extends beyond simple finance solutions—it's about helping you realise your vision while managing financial responsibilities effectively.

Construction loans can be complex, but at WealthStreet Mortgage Brokers, we simplify the experience by providing expert advice and tailored solutions. Our commitment ensures that you can confidently proceed with your project, whether it's a home improvement loan for renovations or financing for new construction. With access to construction loan options from banks and lenders across Australia, we are dedicated to helping you build the home of your dreams.

We invite you to contact WealthStreet Mortgage Brokers today to discuss how we can assist with your construction loan needs. Our experienced team is ready to guide you through the loan process, helping you turn your architectural plans into reality while ensuring financial peace of mind. Let us be your trusted partner as you embark on this exciting journey of building or renovating your home.