Construction Finance, also known as “Self-Build Loan” or “Commercial Construction Finance” is a short-term Loan type which is carried out for the financing of Building, or construction of a Building or a real estate project. In noteworthy of mentioning, construction Finance is also valid for Property purchase projects & renovation projects in Australia. The borrower could be the owner of the property, constructor, sub constructor or entrepreneur (for workplace construction or renovation) On the subject matter of construction Loan, the loan fund is calculated combining the value of the land plus the construction cost and further, 80% value of the total. On the subject matter of construction finance, the value of Loan increases with every progressed payment for construction till the Loan fund is fully withdrawn and utilised.
There are a number of eligibility criteria that one must stand upon to qualify for commercial construction finance, these are—
If you are fulfilling all the given criteria, you are qualified to get construction finance Australia. Moreover, the lenders hold the right to carry out own loan qualifying guidelines based on documents akin to BAS (Business activity statements) and repayment history of the Borrower.
With us, you can get construction finance in Australia into three simple steps—
You can apply for construction finance online on our website at quick click on “apply now.” This click will lead to application form tab. After filling this application, our loan consultant will provide approval within a minimal time period of 5 minutes.
Next step is to submit the required documentation to us. These documents may include Business activity statement, building contract, building plan, builders insurance, surveyor report, and others to prove the ability of repayment of loan amount.
Once documents are inspected and approval is received from our end, the loan fund will be transferred to your bank account. The line of Credit and re-drawing facilities are made available with us to our clients (borrowers) for easy access to the funds whenever to progress construction payment.
Our Construction Finance Australia qualification focal criteria are very simple, you can keep the potential to get approval with bad credit history as well. Start-ups are welcomed to apply for loans with us. We support anywhere Australia quick 5 minutes’ loan approval online with lowest interest rates (1% per month). Our flexible repayment facility set us apart from other profit-concentrating banking institutions and private lenders within the boundaries of Australia. With us, you can ease your mind on the subject of cash flow balance as our loan fund is easily accessible through Line of credit availability and repayment flexibilities.
|Location:||North-West Sydney NSW|
Role: Refinance current senior loan provider and provide further funding to al low an equity release while allowing for the sell down of residual lots.
|Terms:||3 months + 3 months rollover|
|Location:||Inner Sydney NSW|
Project: Demolition of existing structures and construction of 32 room boarding house.
Role: Provide a capitalised bridging facility to fund on-site works while delayed capital was being transferred on-shore, which covered cost to complete and bullet repayment of loan facility.
|Location:||Western Sydney NSW|
Security: First Registered Mortgage over Residential Property
Role: The Accountant approached a number of lenders, however, they were experiencing significant delays due to valuation timeframes, condition precedents and upfront costs to proceed to settlement.
Within 24 hours, Secured Lending funded the cl ient and the winding up appl ication was dismissed.