Construction Loans Swan View

Standard construction finance suits a contract build where a registered builder charges fixed progress payments, and the lender releases funds at each stage, so you pay interest only on the money drawn rather than the full loan from day one.

House and land package deals split into two contracts, one for the block and one for the build, which means land settlement first and a construction loan drawn afterwards, and we structure the deposits so neither contract leaves you short.

Knockdown rebuild finance carries a wrinkle most lenders handle differently, because you keep the existing loan running while the house comes down, so we match you with lenders whose policy tolerates demolition timing and dual security without forcing a refinance.

Buying the block first and building later is a common hills sequence, and the land loan can either convert to construction finance with the same lender or be refinanced once drawings and contracts exist, whichever path costs you less waiting.

Owner builder applications face the hardest assessment in this space, because lenders worry about cost overruns and unfinished work, so expect a lower borrowing ceiling, quantity surveyor reports, and a shorter shortlist of willing lenders than a contract build attracts.

Renovations requiring council approval can run through construction style drawdowns rather than a lump sum, which suits larger extensions, and we will tell you honestly when a much simpler home equity loan or the renovation route fits your project better.

During construction most lenders charge interest only on funds drawn, so repayments start small at slab and climb with every stage, meaning your household budget needs to absorb rising interest across twelve months or more rather than one fixed figure.

Renters building their first home often carry rent and construction interest simultaneously, and that double burden is the most common reason builds stall financially, so we model the overlap explicitly before you sign rather than discovering it at frame stage.

Even a fixed price contract moves, and site costs, soil reclassification or rock excavation routinely add thousands, so we push every client toward a contingency buffer held outside the loan, sized against the site's known risks, before construction even starts.

As an illustration with assumed figures, a $600,000 loan drawn across a ten month build averages roughly half outstanding, so pre completion interest might land near $15,000, a real carrying cost that plenty of construction budgets forget to include anywhere.

One named broker, Your Mortgage Broker Swan View, runs your file from the first call through to the final draw, which means the person who assessed your borrowing is the same person answering your builder's questions at every single stage of the build.

A panel of lenders matters more in construction than anywhere else, because drawdown policy, builder requirements and valuation practice differ enormously between banks, and comparing several lenders against your builder and block beats asking one bank whether it says yes.

For most borrowers our service costs nothing, because the successful lender pays a commission at settlement which we disclose to you in writing, and if any fee would apply to your situation we name it before you commit to anything.

Process comes before product on every construction file, so we map the drawdown schedule, the inspection points and the expiry dates before discussing any lender at all, because a well sequenced build survives surprises that a rushed one does not.