Constructing or renovating?
Talk to Ensure Finance today and we will help you understand the right construction loan for you.
A Construction loan is funded at predetermined stages of the building process (eg. slab, base, frame, brickwork, lock-up and practical completion). The benefit of the progressive drawing means that you only pay interest on the amount drawn at every stage.
Once construction is complete, the loan automatically converts to a traditional loan with principal & interest payments commencing.
Similar to construction loans, renovation loans are generally interest only until completion. Renovation loans are secured by equity built in your property as well as the increase in value through the work being completed.
Construction and renovation loans require specific documentation to comply with the lenders regulations which can often be complicated and time consuming.
Talk to us today, we will help you at every step of the way to get you into your brand-new dream home!
