Construction Loans

We'll help you fund your new build or renovation

At New Level Lending, we understand that building your first home or investing in property for the first time is a significant milestone. Construction Loans can be the perfect solution to help you turn your dream into reality. Whether you are planning a major home renovation, buying off the plan, or embarking on a new build, our team offers expert guidance to access Construction Loan options from banks and lenders across Australia. With an array of tailored loan solutions, we aim to make the process as smooth and rewarding as possible.

When applying for a Construction Loan, several factors come into play to ensure the project runs smoothly. One of the primary benefits of these loans is the progressive drawdown feature. This means you only draw funds as needed during various stages of the project, and you only pay interest on the amount drawn down. This approach helps manage costs effectively while keeping payments manageable. Additionally, you can opt for interest-only repayment options during the construction phase, easing financial pressure until your property is complete. As you progress through stages like council plans and permits or dealing with plumbers and electricians, having a loan that adapts to your needs is invaluable.

The streamlined application process at New Level Lending ensures that you have clear guidance from start to finish. From selecting the suitable land and understanding council regulations to working with a registered builder, our team supports you every step of the way. We assist in creating a Progressive Payment Schedule that aligns with your construction milestones. This schedule outlines when progress payments are needed, ensuring that subcontractors such as plumbers and electricians are paid on time. Such careful planning helps avoid unexpected delays and additional payments.

Choosing the right loan amount and interest rate is crucial. Our experts can help you determine your ideal price range and make a plan that suits your financial situation. Whether you are eyeing an ideal location or considering demolishing an existing property for a new build, understanding the terms like Progressive Drawing Fee and the importance of commencing building within a set period from the Disclosure Date is essential. We also provide insight into ‘as if complete’ valuations, which assess property value at completion, impacting loan decisions.

First home buyers and investors often worry about Out of Contract Items not included in initial plans. We emphasise thorough planning and communication with builders to address potential issues early on. By understanding development applications and council restrictions, you can avoid pitfalls and ensure a smoother process. Our guidance extends to understanding what needs to be done at various stages of the project, from obtaining permits to meeting construction milestones.

Embarking on a construction project is exciting yet complex. At New Level Lending, we are committed to providing personalised support to help you access Construction Loan options from banks and lenders across Australia. Our goal is to simplify the journey so you can focus on building your dream home or investment property with confidence. Contact us today to discuss how we can assist in bringing your vision to life.