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Construction Loans


A Construction loan uses the funds to build a new dwelling or property and generally involves draw down payments where you receive the funds in installments after a body of construction work is complete (ie, foundations have been laid).

  • The Construction loan allows interest only payments for the land portion prior to construction and interest only payments during the construction process
  • The funds will be paid to you in drawdowns ensuring you only pay interest on the portion of the construction loan you have drawn down
  • Upon completion of construction, your construction loan will automatically revert to a standard variable rate home loan
  • Construction loans are available for both registered builders and owner-builders
  • You have up to 24 months to complete construction after settlement of land
  • The total construction loan may be split between two accounts after construction is complete to identify personal and investment debt made