Construction Loans

We'll help you fund your new build or renovation

Building a home or undertaking major renovations in Marrickville and the surrounding areas can be a thrilling endeavour. At Raiti Finance, we understand the intricacies involved in accessing construction loan options from banks and lenders across Australia. Whether you're considering a new build or buying off the plan, our services are tailored to meet your specific needs. We aim to simplify the process, ensuring you’re well-equipped to manage interest rates, loan amounts, and the necessary paperwork, including council plans and permits.

When applying for a construction loan with Raiti Finance, you'll benefit from a streamlined application process designed to ease your journey. One of the primary advantages of construction loans is the progressive drawdown feature, which allows you to receive funds in instalments. You only pay interest on the amount drawn down, making it an efficient financial strategy during various stages of your project. This method not only helps keep costs in check but also allows you to manage progress payments efficiently. Our interest-only repayment options offer further flexibility, enabling you to focus on construction milestones without financial strain.

The role of a registered builder is crucial in any construction project. From plumbers to electricians, ensuring that sub-contractors are paid on time is vital. With our assistance, you can make a plan that aligns with your ideal location and price range, considering council restrictions and council regulations. It's essential to understand that construction loans require an 'as if complete' valuation, which assesses the property's value once all works are finalised. This evaluation is instrumental in determining the loan amount and ensuring that Out of Contract Items not included are accounted for.

A Progressive Payment Schedule is essential for managing additional payments throughout the build. These schedules ensure that funds are released at various stages, such as after demolishing an existing property or completing significant home improvement projects. This method guarantees that each phase of construction is adequately funded, providing peace of mind as you progress. Moreover, understanding the Progressive Drawing Fee and the requirement to commence building within a set period from the Disclosure Date is fundamental for maintaining compliance and avoiding unnecessary delays.

Choosing suitable land is a critical step in the development process. Before commencing building, a development application must be submitted and approved by local authorities. This step is vital in ensuring that your project adheres to all council regulations and restrictions. Additionally, it’s important to consider how your chosen site will accommodate your plans, whether it involves constructing a new home or undertaking extensive renovations.

At Raiti Finance, we are committed to making the construction loan process as straightforward as possible for residents in Marrickville, Earlwood, Newtown, and beyond. Our expertise in the market enables us to offer tailored advice and solutions that suit your unique circumstances. If you're ready to embark on your project, reach out to us today. Let us help you secure the right construction loan option so you can focus on bringing your vision to life.