Construction Loans
- Construction up to 90% inclusive of Lenders Mortgage Insurance available
- Construction loan is a stand alone product (no split option)
- Interest only for 12 months (maximum construction period 12 months)
- Loan reverts to Variable Rate Home Loan once construction has been completed
- Additional repayments allowed during construction period however redraw not available during this period
- Offset account available once construction has completed and final draw paid
- 5% deposit paid at settlement without the need for council approved plans and specifications
Product can be used for the following purposes:
- Owner Occupied Construction
- Investment Construction