Construction loans are perfect for you when you are considering building your own home or wanting to do renovations on your current property.
Building or renovating can be an exciting time, although finding a suitable loan to complete your dream might seem like a nightmare. At Mortgage Domayne we find construction loans to help you create the property of your dreams. Through our lending partners, we are able to source hassle-free and competitive construction loans for you and, you have flexibility with your repayments. This allows for an optimum repayment timeline for your property or if you wish, direct payments straight away to all the respective building related parties.
When undertaking the pre-approval process, it is important to complete the appropriate paperwork. This helps our brokers to make your life that little bit easier, as well as maximing the number of suitable loan options. Often this paperwork includes evidence of:
Council approved plans and building specifications
Fixed price building contract with a licensed builder (signed and dated)
Builder’s risk insurance (or builder’s public liability insurance)
Homeowners’ warranty insurance (if applicable).
Your Mortgage Domayne broker will talk with you about what paperwork you need, as each situation is different, e.g., the paperwork you need to loan to build or renovate a commercial property is different to the paperwork you need for a loan to build or renovate a residential property.
To ensure you have a hassle-free experience, call us and one of our award winning specialised brokers will be able sit down with you to work out your most suited construction loan options. Our brokers work to ensure that you get a vying rate for your mortgage, which may be better than going direct to the bank. Better yet, we also do not charge you for our services.