FAQ

Construction Loan

Most popular questions...

• Will I pay interest on the full amount?

  Your loan will be disbursed as the funds are required, so you will only pay interest on the portion of the construction loan you have drawn down.

• Can I redraw on my construction loan during the construction period? 

  No, you cannot redraw during the construction period. If you choose a variable rate loan you will have a redraw facility available at the end of your construction period.  

• What type of loan can I select for my construction loan?

  You can choose from a range options including:

  • Home Loan Package
  • Standard Variable
  • Basic Variable
  • Fixed

  The construction period of your loan will be interest only. You have the option of selecting whether you will have a further interest only period at the end of your construction period, or if the loan reverts to principal and interest repayments.  

• How long do I have to construct my new Home?

  The construction period for your loan is up to 12 months from the date of settlement.