Current Lending Policy
- Draw down money as you need it, with loan funds advanced in stages as your builder completes previously agreed construction milestones.
- You could save on interest, since it is only payable on the amount advanced on the loan.
- Make Interest Only repayments until the loan is fully drawn down when construction is completed.
- Maximum LVR when financing land & construction purchases is 97%, inclusive of LMI premiums
- Release of FHOG is usually available at first progress drawdown