Construction Loans

At Pollux Financial, we understand that building your dream home or embarking on major home renovations can be an exciting yet complex journey. Our expertise in construction loans ensures that you can access Construction Loan options from banks and lenders across Australia with ease. Whether you're buying off the plan or planning a new build in your ideal location, our tailored services in Canberra and beyond are designed to make your construction project a reality.

When considering a construction loan, the loan amount and interest rate are pivotal factors. At Pollux Financial, we guide you through the process of applying for a loan, ensuring a streamlined application process. One of the advantages of construction loans is the progressive drawdown feature, which allows you to receive funds in instalments as your project progresses. You only charge interest on the amount drawn down, which provides flexibility and cost-efficiency. Our interest-only repayment options further support your financial management during the building phase.

Managing a construction project involves coordinating with various professionals such as plumbers, electricians, and a registered builder. It's essential to have a Progressive Payment Schedule aligned with construction milestones to pay sub-contractors efficiently. Our team helps you navigate council plans and permits, ensuring compliance with council regulations and restrictions. We also assist in preparing for the 'as if complete' valuation, which is crucial at various stages of the project.

Embarking on a construction journey requires careful planning. From understanding your price range to identifying suitable land for development, our experts are here to assist. Whether you aim to demolish an existing property or explore home improvement loan options, we provide comprehensive support. We also address council restrictions and guide you through the development application process. Additional payments and Out of Contract Items not included in the initial agreement can impact your budget, so we help you make a plan that accommodates potential adjustments.

Lastly, it's vital to commence building within a set period from the Disclosure Date to avoid incurring penalties such as the Progressive Drawing Fee. Pollux Financial ensures that you're well-prepared to meet these timelines, helping you secure the ideal location for your project. We understand that each construction project is unique and requires personalised attention to detail.

Pollux Financial is committed to making your construction journey as smooth as possible. By choosing us, you benefit from our extensive knowledge and experience in accessing Construction Loan options from banks and lenders across Australia. Let us help you turn your vision into reality with confidence and peace of mind. Contact us today to explore how we can support your construction goals nationwide.