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Building a home? Our lenders are making it easier!

Good news for home buyers! Some of our lenders have recently updated their construction lending policies to make it even easier for customers to build a new home.

Key changes include:

• An increase to residential construction lending up to 90% LVR on the lower of Tentative On Completion (TOC) valuation or project cost for fixed price contracts only.
• Fixed price contract construction builds over 80% LVR will be exempt from the Reserve Bank LVR restrictions if the specific exemption criteria are met.
• Remember, the exemption doesn't apply to a house already under construction or borrowing for extra expenditure such as furniture.

There are conditions around the fixed price contract as well as each lenders standard lending criteria. So if you want to know more, we're happy to discuss this with you. We'll also take the hassle out of applying for finance by dealing with them directly on your behalf - all for free!

What's more some lender's are throwing in some additional offers such as free kitchen appliance package upgrades worth thousands!  Give us a call today.


 

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