Build your home with finance that follows the build.
Building a home works differently from buying one. We explain how staged payments, building contracts and lender requirements fit together, then compare options across our lender panel.
Many banks. One focus. You.
Staged payments
Funds are generally released in stages as each part of the build is completed and inspected, not all at once.
What lenders look for
Lenders typically want council-approved plans, a fixed-price building contract and a licensed builder.
Interest while you build
During construction you generally pay interest only on the amount drawn so far, and repayments step up as the build progresses.
Land and build
Whether you already own the land or are buying it as well, we help you work out how the loan can be structured.
Construction Loans: questions, answered simply.
How do construction loan payments work?
Lenders usually pay the builder in progress stages, such as slab, frame, lock-up and completion. You normally pay interest only on the amount drawn at each stage. The details depend on the lender and your contract.
What do I need to apply?
Commonly the building contract, council-approved plans and specifications, details of the land, and the usual income and expense documents. Requirements vary by lender.
Can I buy land and build with one loan?
Some lenders offer land and construction packages, while others handle the land purchase and the build as separate steps. We can explain the options that may suit you.
General information only. It does not take your personal circumstances into account.