Construction Loans
Turn your building plans into a reality with a construction loan
Rated 5 from 52 Reviews
Turn your building plans into a reality with a construction loan
Rated 5 from 52 Reviews
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.
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Manal Younes
I was referred to Luisa by a friend, and I couldn’t be happier with the experience. From start to finish, she made the loan application process easy to understand and incredibly smooth. I had spoken with a few other mortgage brokers before, but Luisa stands out in every way. She truly goes above and beyond, providing exceptional service that exceeded my expectations. She really puts the "more" in mortgage brokering! If you’re looking for someone knowledgeable, attentive, and committed to helping you every step of the way, Luisa is the one to trust. Highly recommended!
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Yasmin Alali
I cannot recommend Luisa highly enough! She was an incredible support during my journey to purchasing my first investment property. Luisa’s in-depth knowledge, clear explanations, and tailored advice made the process so much easier to navigate. She took the time to answer all my questions thoroughly and guided me through all my options with care and professionalism. Her dedication and genuine commitment to her clients truly set her apart. If you are looking for expert, personalised financial advice, Luisa is the one to trust. Thank you so much for your amazing work!
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Joseph Safetly
Luisa at Raiti Finance went above and beyond in handling my complex home loan process, which involved purchasing through a company and trust structure with four members. With over 500 documents required by the bank, the process was detailed and lengthy, yet Luisa expertly managed every aspect to ensure a smooth and efficient outcome. Her accounting background proved invaluable as she discussed multiple financial scenarios with me, patiently guiding me through every step. I lost count of the many conversations we had, but Luisa consistently dedicated her time and gave my case 110% attention. Thanks to her, I secured an incredible rate that was both competitive and tailored to my needs. Highly recommended for anyone seeking a top-notch mortgage broker!
Your borrowing capacity is dependent on a number of factors including the current interest rates, your income, your expenses, your existing level of debt and your credit rating. This will also vary from lender to lender. Reach out and we can properly assess your maximum borrowing capacity by analysing your financial situation.
Yes, we certainly can! We can help with car loans, personal loans, self-managed superannuation fund (SMSF) loans, commercial loans, asset and equipment finance, refinancing and debt consolidation.
We can help with Home and Investment Loans, Construction Loans, Car Loans, Personal Loans and much more. If you're looking to borrow to buy something, we can probably help.
At Raiti Finance we are accredited with over 30 of Australia’s leading lenders. These include the major banks as well as 2nd and 3rd tier lenders who can accommodate more specialised lending needs.
There are three main reasons to use a mortgage broker:
- We have access to multiple lenders and loan products.
- We search for the best loan option to suit your individual needs.
- We do all the leg work to make the process fast and simple.
Raiti Finance is based in Marrickville in Sydney’s Inner West. However, we absolutely assist clients Australia-wide. The loan process can be completed remotely via phone, email and video call. If you live in Sydney, in the Inner West or Canterbury Bankstown areas, we are more than happy to meet you in person if you prefer.