Construction Loans
Turn your building plans into a reality with a construction loan
Premium Finance Group Australia is here to guide you through the intricacies of Construction Loans, offering tailored solutions for clients in Townsville, QLD, and across the nation. Whether you're planning major home renovations or embarking on a new build, understanding your financing options can transform your dream into reality. Our expertise lies in helping you access Construction Loan options from banks and lenders across Australia, ensuring you have the financial backing to construct in your ideal location within your budget.
When considering a Construction Loan, it's essential to understand how they differ from standard home loans. Unlike traditional loans, Construction Loans are drawn down progressively, meaning you only pay interest on the amount you use. This process aligns with various stages of the project, such as securing council plans and permits, or as you engage with plumbers and electricians. As your project progresses, funds are released in instalments, known as progress payments, which coincide with construction milestones outlined in the Progressive Payment Schedule. This method not only manages cash flow effectively but also ensures that payments are made to registered builders and sub-contractors at the right time.
A significant advantage of Construction Loans is the interest-only repayment options available during the building phase. This feature allows you to manage financial outlays efficiently while construction is ongoing. It's important to note that securing an ‘as if complete’ valuation is a standard requirement in the application process. This valuation helps determine the loan amount you can access, ensuring that once your project is finished, it's valued appropriately by lenders. Additionally, having a clear strategy for Out of Contract Items not included in the initial plan can prevent unforeseen expenses.
Applying for a loan with Premium Finance Group Australia is streamlined to minimise stress and maximise results. We assist in making a plan that meets council regulations and fits within your price range, whether you're buying off the plan or considering home improvements. Our approach involves detailed discussions about your project scope, including council restrictions and development applications, to ensure you're prepared for every eventuality. Moreover, we guide you through potential additional payments and Progressive Drawing Fees so that you're fully informed from start to finish.
The journey to commence building within a set period from the Disclosure Date requires careful planning and execution. We support you every step of the way, helping you find suitable land and advising on whether to demolish an existing property to make room for your dream home. Throughout this process, understanding the importance of council plans and permits ensures that your project adheres to all necessary guidelines.
Premium Finance Group Australia is committed to providing comprehensive support throughout your construction project. By understanding the nuances of Construction Loans—such as progressive drawdown and interest rate management—you can embark on your build with confidence. Contact us today to explore how we can help secure the ideal financing for your next project. Let us assist you in transforming your architectural vision into a tangible asset, backed by our expertise and dedication to your success.
Beyond Excellent! Dianne and Murray take their time to make sure everything is a good fit for you! Buying our first home was daunting and they made it a breeze. Always happy to talk and provide advice whenever it was needed. Will be going back to them in the future and have always recommended them to friends and family! Thanks
Werner Lindenberg
I’d highly recommend Murray Mayes. He helped me with the overwhelm of buying my first property over 6 years ago. He always goes above and beyond to answer my questions and provide support during the application process but also long after. This level of support really puts my mind at ease with lending and is why I will continue to use his services for future lending.
Jess Dykstra
Diane from Premium Mortgage Group is absolutely terrific to deal with. Very professional and prompt. Highly recommend.
Clint Radley
Great team, easy to deal with. They looked after us from start to finish with our best interests in mind.
James Laycock
They helped us with a loan application. Very helpful, made the whole process a lot easier and less stressful!
Conrad Henning
Very easy process for buying my first property, cheers for that!
Rory Scott
Unlike banks that are limited to their own products and focused on maximising their profits, we have access to a large range of lenders including major banks, credit unions, and specialist lenders. This means we can compare thousands of products to find the best solution for your specific situation, and we're committed to helping you save money over the life of your loan.
Definitely! We have expertise in SMSF property purchases and can help you navigate the complexities of using your super fund to invest in property. We'll ensure you get the right finance structure while complying with all SMSF regulations.
Yes, investment loans are one of our specialties! We can help you finance investment properties and other assets, providing expert advice on investment strategies and ensuring you get the right loan structure to maximise your wealth growth potential.
We're transparent about our fee structure and will discuss this with you upfront. In many cases, we're paid by the lender, which means our services may not cost you anything directly. We'll always explain how we're remunerated so you can make an informed decision.
We pride ourselves on getting the job done quickly. While timeframes can vary depending on the complexity of your situation and lender requirements, our experienced team works efficiently to fast-track your application and keep you informed throughout the entire process.
Not at all! While we started in Townsville back in 1998, we now support clients all over Australia. Whether you're in a major city or regional area, we can help you with your finance needs regardless of your location.
Premium Mortgage Management Pty Ltd ABN: 89 114 404 090. Authorised under Australian Credit License #386814
Disclaimer: This page provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.
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