Building Loan

📄Key Features:

• Purpose: To cover the cost of constructing a new building (residential, commercial, or industrial) or making significant structural renovations.
• Disbursement: Funds are released in stages (called progress payments) as construction progresses, rather than as a lump sum.
• Period: Typically, the loans are drawn in 6 to 24 months, meant to cover only the construction period however the loan term can be 30 yrs
• Interest: Usually higher than a traditional mortgage due to higher risk however major banks offer competitive rates. Often, interest is only paid on the amount drawn.

Dreaming of that new kitchen or want to add an extra bathroom? Perhaps you’re looking to spruce up the backyard or fix that old laundry.

Please email us at anuj@surefinancialservices.com.au to discuss further.