A construction loan grows with your home.

Your contract will ask for the builder to be paid (typically) at;

  • Footings
  • Frame
  • First Fix – frames and windows
  • Second Fix (lockup)
  • Final

The bank pays the builder from your (growing) loan account.

The mechanism for this – your builder gives you an invoice, which you forward on to us.

We then liaise with the lender personally to ensure that your builder is paid in a timely manner.

At Final stage the bank does an on-site inspection, makes the final payment to the builder and then your loan becomes a “normal” home loan thereafter.