Construction Loans

At Cairncross Group Capital, we specialise in assisting clients like you in Narre Warren and across Australia with accessing Construction Loan options from banks and lenders nationwide. Whether you're planning a new build or major home renovations, understanding how to finance your project is crucial. Construction Loans offer a flexible way to manage costs, allowing you to focus on creating your ideal home in your preferred location. Our team is dedicated to guiding you through the process, ensuring you make informed decisions regarding interest rates, loan amounts, and more.

When applying for a loan, it's important to understand the unique structure of Construction Loans compared to traditional loans. One of the key features is the progressive drawdown, which allows you to access funds in instalments as your project progresses through various stages. This means you only pay interest on the amount drawn down, helping to manage costs effectively. Additionally, interest-only repayment options can ease your financial burden during construction. As your project moves from one stage to another, such as laying the groundwork or completing the framework, progress payments are made to your registered builder and sub-contractors like plumbers and electricians.

A streamlined application process is essential when dealing with Construction Loans. At Cairncross Group Capital, we assist you in preparing necessary documents such as council plans, permits, and development applications. We understand that council restrictions and regulations can be challenging, but our expertise ensures you are well-prepared to commence building within a set period from the Disclosure Date. Our team will help you make a plan that aligns with your goals, whether it's a new build or buying off the plan. We also provide guidance on selecting suitable land within your price range and managing Out of Contract Items not included in the initial agreement.

Managing Construction Loans also involves understanding construction milestones and the Progressive Payment Schedule. As the project reaches completion, an ‘as if complete’ valuation is conducted to assess its value. This valuation helps determine any additional payments required. Furthermore, it's crucial to recognise potential fees such as the Progressive Drawing Fee and ensure all payments align with your budget. Our team will support you in navigating these elements, ensuring smooth progress throughout your project.

As you prepare for your construction journey, Cairncross Group Capital is here to support you every step of the way. We are committed to helping you access Construction Loan options tailored to your needs. Our expertise ensures that you understand all aspects of the loan process, from interest rates to council regulations. Contact us today to discuss how we can assist you in making your construction dreams a reality.