When it comes to building your new home, it is just as important to choose a suitable home loan; matched by a lender that suits you.

At Focus Broking Services, we take the necessary time to provide you with a solution that is right for you; according to your financial goals.

A construction is used for when you’re looking to build a residential home or do major renovations.

There are two steps when you borrow funds for a house and land Package:

  • Purchase of the Land(Settlement takes place)
  • Construction Stages(Builder starts work according to Fixed Price Contract)

During construction, the home loan will usually be an Interest Only Standard Variable Rate (SVR) loan to allow for flexibility whilst building the home. Once the home is completed; then the loan becomes Principal and Interest (P&I) SVR.

Lenders most commonly accept Registered Builders, as the costings are provided through a Fixed Price Building Contract; that includes the six (6) various stages to complete the new home:

  • Preparation/Deposit
  • Slab or Base Stage
  • Frame Stage
  • Lockup Stage
  • Fixing or Internal Stage
  • Completion

If you’re looking for a loan to build your new home or renovate your current home, contact Tony on 0414 993 222 to learn more about your loan options.


Contact us today!