Whether you are building a brand-new home or undertaking renovations on an existing home, it may be worth considering a construction loan. These are exciting projects to undertake as home owners, so having someone with experience to help you through this process is important.
Multiple parties are involved when building a home, such as builders, contractors, lenders, solicitors, accountants, surveyors and the relevant council. With so many people involved in the process, it is easy for a communication breakdown to occur and plans to go off course. As a mortgage broker, I strive to prevent these issues from occurring, or, if they do, fix them as they arise. I can structure your loan in a way that ensures your new home is built without the hassles, and be your means of communication throughout the entire process.
When renovating a home, there is often a ‘tipping point’ where a small renovation soon turns into a much bigger project. Once the aesthetic changes (such as a simple kitchen upgrade) involves structural changes (such as removing walls and creating an open plan space) any money borrowing required will need to be completed as a construction loan. I can sit down with you and explore your options prior to commencing your renovations, and advising you on ways to make this process easier, while securing you the most competitive deal.