Whether it’s a house and land package, building upon land you have or knocking down to rebuild, a construction loan if not chosen carefully can create additional challenges and delay your project. This can cause expenses to blow out if payments to contractors and tradespeople are not efficiently managed.
Oak Lending has years of expertise with banks, knowing first hand what can hold up developments and projects. We strive to make the process of attaining a suitable loan, working with your builder and making progressive payments as smooth as possible.
The principal becomes available via a series of progress payments as per your building contract. Oak Lending provides affordable, streamlined construction loans that feature competitive interest rates as well as low deposit options. You also receive a Visa card set at home loan rates, an offset account and a redraw option is available too.
Your property is inspected at specified stages of construction and funds paid to the Builder at each completed phase of the project. The balance of the loan increases as the lender releases approved funding right through to the completion stage when you take possession.