Full-doc
What you bring
2 yrs ITR + NOA · company financials · BAS
- Rate from
- 6.39%
- Max LVR
- 90%
- Turnaround
- 14–21 days
- Lenders
- 7
SCENARIO
Construction loans: land + build packaged, with transparent progress draws
Buy-land-and-build, knock-down rebuild, or duplex development — we sequence 5-stage progress draws against your builder contract and council approvals, so settlements don't stall.
Who this is for
- ·Land already owned OR buying land + building owner-occupied
- ·Knock-down rebuild on existing site
- ·Duplex / townhouse small developments (self-employed dev)
- ·Fixed-price head contract negotiated with builder
What we handle
- ✓5-stage progress draw schedule (slab / frame / lockup / fixing / completion)
- ✓Land + construction split-loan structuring
- ✓Builder accreditation check (some lenders require HIA / MBA-accredited builders)
- ✓Construction → end-loan auto-conversion terms
Documentation Pathway Matrix
Find the rate, LVR, and turnaround that matches the documents you can supply.
Alt-doc
What you bring
6 mo bank statements · ABN ≥ 2 yrs · builder contract
- Rate from
- 6.79%
- Max LVR
- 75%
- Turnaround
- 14–28 days
- Lenders
- 6
BAS-only
What you bring
4 quarters of BAS · ABN ≥ 2 yrs
- Rate from
- 6.89%
- Max LVR
- 75%
- Turnaround
- 10–21 days
- Lenders
- 4
Accountant letter
What you bring
Signed accountant declaration · 6 mo bank statements
- Rate from
- 6.99%
- Max LVR
- 70%
- Turnaround
- 14–21 days
- Lenders
- 3
Indicative only — actual rate and LVR cap subject to lender formal approval.
Honest trade-offs
- ⚠Construction-phase interest is typically IO, but post-completion P&I steps up sharply
- ⚠Incomplete progress-draw paperwork stalls 1–3 weeks — builder invoice + QS report + council progress evidence all required
- ⚠Variations beyond 5% of contract typically trigger lender re-assessment (servicing + valuation)
Frequently asked
Biggest difference between a construction loan and a standard loan?
Funds aren't released as a lump sum — they're drawn in 5 progress stages directly to the builder. Interest-only during build, auto-converting to P&I on completion. Both approval and documentation are heavier than a standard loan.
Does the builder need to be HIA / MBA accredited?
Some lenders require HIA / MBA accreditation; others accept any licensed builder + $20k+ owner-builder insurance. We match against each lender's policy.
What happens if construction runs over schedule?
Most lenders allow a 12–18 month construction window. Overruns require an extension application, which usually triggers a servicing reassessment — capacity can drop in a rising-rate cycle.
Will the lender refuse to pay if variations exceed the contract?
Variations within 5% of contract usually pass without review. Beyond 5% triggers a servicing + valuation re-assessment. Always loop your broker before major variations to avoid draw delays.
Next step
3-minute pre-check for construction loan
Drop a few basics. We cross-check 40+ lenders against your situation and return how much you can borrow + which doc pathway is right for you.