Whether you’re renovating, knocking down an existing structure and rebuilding, subdividing your property, or completing a multiple-development project, there are specific financial products that are designed for your needs. However, each has its own set of parameters, so what might look suitable at first glance can sometimes look less so when thoroughly assessed.

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Unlike regular home loans, whether you typically receive a lump sum of the loan amount at settlement, construction loans are paid via progressive drawdowns/progress payments, where a portion of your loan funds are released at each stage of construction.  A construction loan will usually be interest only over the first 12 months and then revert to a standard principle and interest loan thereafter.

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That’s where it really pays to have MV Finance on your side. We’ll be able to eliminate any options that are either unsuitable or less attractive and narrow down the field to just a handful that are fit for your purpose.