We'll help you fund your new build or renovation with a Construction Loan
At Capital Finance Partners, we understand that embarking on a construction project can be an exciting yet complex journey. Whether you're planning major home renovations, buying off the plan, or constructing a new build, accessing the right Construction Loan is crucial. Our expert team is here to help you access Construction Loan options from banks and lenders across Australia, ensuring that your project in Melbourne or anywhere nationwide is adequately funded and efficiently managed.
When applying for a Construction Loan, it's important to consider the interest rate and loan amount that best suit your financial situation. Our streamlined application process is designed to simplify this task. We assist you in understanding progressive drawdown loans, where funds are released in stages according to your project's various milestones. This means you pay sub-contractors such as plumbers and electricians as work progresses, only charging interest on the amount drawn down. This approach keeps your costs manageable, with interest-only repayment options available during construction.
A key aspect of Construction Loans is the Progressive Payment Schedule. This schedule outlines when funds will be disbursed at different stages of your project. For instance, payments might coincide with obtaining council plans and permits, or when specific construction milestones are met. Our team will guide you through these stages, ensuring a smooth flow of funds and helping you adhere to council regulations. The ‘as if complete’ valuation provides assurance that funds align with the project's ultimate value, while our knowledge of council restrictions ensures compliance with local requirements.
Choosing the ideal location and suitable land is fundamental in your building journey. Our services extend to guiding you through development applications and understanding the impact of council restrictions on your plans. Whether you're planning to demolish an existing property or commence a new build, we help you make a plan within your price range and navigate any Out of Contract Items not included in the initial agreement. Additionally, it's essential to commence building within a set period from the Disclosure Date, avoiding possible penalties and ensuring project timelines are respected.
In some cases, projects may require additional payments beyond the initially agreed loan amount. These may arise due to unforeseen expenses or changes in project scope. Our expertise includes advising on Progressive Drawing Fees and understanding how best to manage these extra costs without derailing your budget. We support you in maintaining financial flexibility across various stages of the project.
By partnering with Capital Finance Partners, you can confidently tackle construction projects with the right financing in place. Our comprehensive approach ensures that all aspects of your Construction Loan are handled with care and expertise, giving you peace of mind as you focus on building your dream property.
For those seeking to embark on a construction journey in Melbourne or beyond, Capital Finance Partners stands ready to assist you every step of the way. Contact us today to explore your Construction Loan options and take the first step towards turning your vision into reality.
