We'll help you fund your new build or renovation with a Construction Loan
At JAYA Finance & Mortgages, we understand that building your dream home or undertaking major home renovations can be a significant venture. Whether you're based in Mornington Peninsula, Victoria, or anywhere across Australia, securing the right Construction Loan is crucial to bring your vision to life. These loans offer unique benefits such as interest-only repayment options and the opportunity to only charge interest on the amount drawn down, making them an attractive choice for many homeowners and developers.
Construction Loans offer the flexibility you need when building a new property or renovating an existing one. Our service allows you to access Construction Loan options from banks and lenders across Australia, helping you secure the best interest rate and loan amount suited to your needs. The streamlined application process makes applying for a loan straightforward, ensuring you can commence building within a set period from the Disclosure Date. This type of financing is particularly beneficial for those planning major home renovations, demolishing an existing property, or buying off the plan.
One of the standout features of Construction Loans is the progressive drawdown system. This means that funds are released in stages as your project progresses, ensuring that you only pay interest on the amount drawn down at each stage. This method aligns with construction milestones, allowing you to pay sub-contractors like plumbers and electricians, and manage council plans and permits efficiently. Each stage is supported by a Progressive Payment Schedule, which includes progress payments based on the ‘as if complete’ valuation of the project. This ensures that you can make additional payments if needed and manage Out of Contract Items not included in the original plans.
Choosing the ideal location and suitable land is essential when planning a new build or development. Factors such as council restrictions and regulations must be considered, alongside the price range and development application processes. Our team can assist in making a plan that meets all these requirements while ensuring compliance with council regulations. For those interested in a home improvement loan, we provide tailored advice to ensure your needs are fully met.
Understanding the various stages of the project is critical to managing your finances effectively. From obtaining council permits to coordinating with a registered builder, every step requires careful planning and execution. The Progressive Drawing Fee is another consideration, as it covers costs associated with multiple drawdowns during construction. This fee structure supports efficient cash flow management and ensures that all parties involved are paid promptly.
JAYA Finance & Mortgages is committed to providing comprehensive support throughout your construction journey. By helping you access Construction Loan options from a wide range of lenders across Australia, we ensure that you can focus on building or renovating your property without unnecessary financial stress. Our expertise extends beyond just finding a loan; we assist with planning, coordination, and execution at every stage of your project.
If you're ready to embark on a new build or major renovation, consider the benefits of a Construction Loan with JAYA Finance & Mortgages. Our team is here to help you achieve your property goals with confidence and peace of mind. Contact us today to find out more about how we can assist you in making your dream home a reality.
