Construction Loans

We'll help you fund your new build or renovation

Choosing the right financial partner is crucial when embarking on a construction journey. At Best Choice Financial Services, located in Cabramatta and servicing clients nationwide, we specialise in helping you access Construction Loan options from banks and lenders across Australia. Whether you are planning major home renovations, a new build, or buying off the plan, we ensure a seamless experience tailored to your needs. With our expertise, you can confidently make a plan to secure your ideal location within your price range, while considering council plans, permits, and council restrictions.

Understanding the nuances of construction loans is vital. Unlike traditional home loans, construction loans involve a progressive drawdown process. This means you make progress payments at various stages of the project, only charging interest on the amount drawn down. Our streamlined application process simplifies applying for a loan by guiding you through each step—from understanding interest-only repayment options to managing instalments for progressive drawdown. Whether you need to pay sub-contractors like plumbers and electricians or deal with Out of Contract Items not included in the initial quote, our team will assist you every step of the way.

One major advantage of construction loans is the flexibility they offer. You can commence building within a set period from the Disclosure Date and adjust plans according to development application approvals or council regulations. This ensures that any additional payments required for changes or unforeseen circumstances are managed efficiently. The Progressive Payment Schedule aligns with construction milestones, allowing for financial planning at each stage. Additionally, an 'as if complete' valuation helps ensure that your project stays on track financially.

When planning your project, consider the importance of choosing suitable land and understanding any council restrictions that might affect your build. Demolishing an existing property or embarking on a new build requires careful budgeting and foresight. We assist in making informed decisions about development applications and council plans. By providing access to various Construction Loan options, we help you align your project’s needs with the right loan amount and interest rate.

For those renovating or improving their homes, a home improvement loan might be an alternative option worth considering. With our comprehensive service, we ensure that all aspects of your construction loan are covered, from Progressive Drawing Fees to managing cash flow for additional costs that arise during the project.

In summary, Best Choice Financial Services is committed to guiding you through the complexities of accessing Construction Loan options from banks and lenders across Australia. Our thorough understanding of interest rates, loan amounts, and the progressive drawdown process ensures that your project is financially secure from start to finish. Whether tackling major home renovations or building anew, we support you in achieving your goals with confidence and clarity. Contact us today to learn more about how we can assist with your construction finance needs.