Problems with interest rates and repayments? Ask for home loan help.
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Most of the major lenders will provide finance to enable construction of a home where the borrower enters into a fixed priced building contract and the loan is approved on a full doc (income verified) basis.
Approval as an owner builder is more difficult as is approval on a low doc (income declaration not verified) basis.
To have a construction loan approved lenders generally require;
- Shire approved plans
- Fixed Price building contract with registered builder
- Builders indemnity/construction insurance verified.
Most of the major builders will provide a “financiers package” containing the above to assist with approval.
Should you have an Owner- Builder finance requirement it is best you speak to your broker to discuss requirements.
Call Your Local Finance mortgage broker on 1300 787 665 to discuss your options.
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