We'll help you fund your new build or renovation

Building your dream home or undertaking major renovations can be an exciting journey, yet it often involves complex financial decisions. At BetterLend, Luke specialises in helping clients across Sydney and throughout Australia access Construction Loan options from banks and lenders. Whether you're planning a new build in an ideal location or embarking on home improvements, understanding the intricacies of construction loans is essential. Our goal is to provide you with a streamlined application process, ensuring you can focus on your project while we handle the financial details.

When applying for a loan, it's crucial to understand the specifics of construction financing. Construction Loans differ from standard home loans; they are typically structured around progressive drawdowns, meaning you only pay interest on the amount drawn down at various stages of the project. This is ideal for projects that involve paying sub-contractors like plumbers and electricians, as funds are released in instalments aligned with your Progressive Payment Schedule. Interest-only repayment options further ease your financial commitment during the construction phase, allowing you to manage your budget effectively.

Another important aspect of Construction Loans is the 'as if complete' valuation, which evaluates the property's worth upon completion rather than its current state. This valuation is essential when buying off the plan or undertaking major home renovations. Additionally, it's important to make a plan that considers council plans and permits, as well as potential council restrictions and regulations that may impact your project. Understanding these elements, along with your development application, ensures a smooth process when selecting a suitable land or deciding to demolish an existing property.

Choosing the right Construction Loan also involves considering various factors like interest rates and loan amounts. At BetterLend, Luke works with a range of lenders to find the best options that fit your price range and project needs. Our services ensure that you can commence building within a set period from the Disclosure Date, with clarity on Out of Contract Items not included in your agreement. We also assist with understanding the Progressive Drawing Fee and any additional payments that may arise as construction milestones are reached.

Construction Loans offer flexibility with progressive payments, allowing you to pay only for work completed during various stages of the project. This approach helps manage costs effectively and ensures that you are not overextending financially. Furthermore, Luke can guide you through the complexities of council plans and permits while coordinating with your registered builder to meet all necessary requirements. With BetterLend's expertise, you can confidently navigate the intricate world of construction financing.

BetterLend is dedicated to providing comprehensive support for clients seeking Construction Loans across Australia. By understanding your unique situation and financial goals, we help simplify the process, ensuring you have access to suitable loan options tailored to your needs. Whether you're improving an existing home or starting a new build from scratch, Luke is here to assist you every step of the way. Reach out to us today to explore how we can support your next big project with tailored construction financing solutions.

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Our Recent Reviews

Luke is always so helpful and easy to work with. He is available any time to answer your questions and find the best possible option for you. Would highly recommend Luke and will continue to work with him in future.

Anthea Georgiou

Luke from BetterLend did an excellent job of helping us with our mortgage. Luke provided us with all the information we needed, explained all of our options and made it very easy to get our home loan assessed and approved. His communication ...

Shane Ducksbury

My partner and I just bought our first home, and we truly couldn't have done it without Luke! From the very beginning, he was incredibly supportive, patient, and knowledgeable—always taking the time to explain every step of the mortgage ...

MitchC

Luke was highly professional and very responsive, always ready to answer questions when we needed . He was also very knowledgeable and reassuring, which made the whole process so much easier for two first home buyers with no clue what we were doing!

sarah mckenna

Frequently Asked Questions

Can you help First Home Buyers?

We love helping First Home Buyers! We're experts at the entire process and can help you get the right Home Loan. We're also across the various schemes to help First Home Buyers such as the First Home Owners Grant and the various stamp duty exemptions available.

Are your mortgage brokers licensed and accredited?

All of our Mortgage Brokers are accredited and members of the Finance Brokers Association of Australasia. They are extremely professional and provide exceptional service across a range of lending options.

What kind of interest rates can you offer?

We take look at a wide range of products available from Banks, Credit Unions & other lenders across the country. This means we can search thousands of products and make sure we're always recommending the best Home Loans for our clients.

Why should I use a Mortgage Broker?

Mortgage Brokers are there to help you find the right loan whether it be from the major banks, smaller lenders or other sources. We have a broad range of products (more than any single lender can offer) which means we can do all the legwork to find the right loan for you.

Can you help with refinancing an existing Mortgage?

Of course! We believe that we can find the best interest rate for you to refinance to, whether it's a Home Loan or Investment Loan.

Can you only help with Home Loans?

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.

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