If you want to build a new property or renovate an existing one, a construction loan is one of the best ways to finance it.


Gather the information you'll need to apply for the loan:

A fixed price contract from a licensed builder for the construction
Council approved plans and specifications of the proposed residence
A copy of builders insurance which must be current during construction


Talk to 123 Home Loans about getting your project valued

We'll allocate a specialist valuer to your project
The value of your completed project will be estimated
The valuer will check the progress during construction - to make sure the work has been completed as stated and to approve the builders progress claims
Once completed, the valuer will confirm a final valuation of your property


Paying your suppliers

This is done by providing us with a copy of your builders invoice along with a request for funds at agreed intervals. Often this is:
At the concrete or timber flooring stage
When your framework is done
Once you can lock up your property
On completion of your project
The valuer will be asked to confirm the works stated
We will approve the claim and pay the amount direct to your builder