Construction Loans

We'll help you fund your new build or renovation

Shield Mortgage Brokers is your trusted partner for securing construction loans across Australia. Whether you are planning a major home renovation, buying off the plan, or embarking on a new build, understanding construction loans is crucial. These loans offer unique benefits, such as interest-only repayment options and progressive drawdown, which allow you to only charge interest on the amount drawn down. Our team is dedicated to helping you access construction loan options from banks and lenders across Australia, ensuring you find the right fit for your project needs.

Applying for a loan can often seem complex, but Shield Mortgage Brokers aims to simplify this process. We offer a streamlined application process that helps you understand each step. Construction loans are typically structured differently from traditional home loans. They operate on a progressive drawdown basis, where funds are released in instalments at various stages of the project. This means you make progress payments as the construction milestones are met, such as when the foundation is laid or the roof is completed. With our guidance, you can be confident in managing these payments, ensuring your registered builder and sub-contractors like plumbers and electricians are paid efficiently.

Central to construction loans is the 'as if complete' valuation, which assesses the property's value once construction is finished. This valuation helps determine the loan amount and influences the interest rate. It is important to make a plan and consider aspects like council plans and permits, council regulations, and any council restrictions on your ideal location. Choosing suitable land and understanding development applications are also crucial steps. Our experienced brokers assist you in navigating these elements, making sure your plans align with lender requirements.

Shield Mortgage Brokers also supports you in handling Out of Contract Items not included in the initial budget, which might arise during construction. Items like additional payments or Progressive Drawing Fees need careful consideration to avoid any surprises. It’s important to commence building within a set period from the Disclosure Date to ensure compliance with loan terms. For those looking to demolish an existing property before starting their project, we provide advice on how to proceed within your price range.

For those considering major home renovations or home improvement loans, our brokers explore flexible loan options tailored to your specific needs. We help you set up a Progressive Payment Schedule that matches your project's timeline and ensures smooth cash flow throughout various stages of the project. Moreover, our expertise covers interest-only repayment options, allowing you to manage your finances effectively during construction.

Shield Mortgage Brokers is committed to helping you achieve your property goals with ease. Our knowledge of construction loans enables us to offer personalised advice and solutions that fit your unique requirements. With our support, accessing construction loan options from banks and lenders across Australia becomes a straightforward journey.

We invite you to contact Shield Mortgage Brokers today to discuss your construction loan needs. Whether you’re building from scratch or transforming an existing property, our expert team is ready to assist you every step of the way. Let us help you turn your dream project into reality with confidence and peace of mind.