We'll help you fund your new build or renovation
Trusti Lending understands that whether you are a tradesperson like a plumber or electrician, or part of a family planning a new home, the process of accessing Construction Loan options from banks and lenders across Australia can be complex. We are here to simplify this journey for you. Our goal is to help you achieve your dream home or investment property by offering tailored solutions that meet your needs. With our expertise, you can focus on the exciting parts of your construction project, while we handle the intricacies of financing.
When you are considering a construction project, understanding the specifics of Construction Loans becomes crucial. These loans are structured differently from traditional home loans and often involve a progressive drawdown system. This means funds are released in stages as your project progresses, allowing you to pay sub-contractors and cover costs at various stages of the project. You will only be charged interest on the amount drawn down, which can result in significant savings. For tradespeople like registered builders, this is particularly beneficial as it aligns payments with the construction milestones. Additionally, these loans typically offer interest-only repayment options during construction, easing your financial burden.
In addition to traditional Construction Loans, Trusti Lending now provides access to an innovative lending option designed to support cash flow during construction. This approach allows eligible borrowers to pause repayments for up to 12 months, helping reduce financial pressure in the early stages of a build. It’s available only for verified projects, ensuring that the solution is secure and suitable for your construction goals. While this option offers significant flexibility, every project and client’s situation is unique. That’s why our team works closely with you to strategise the right solution, tailoring repayments, loan structure, and timing to suit your individual needs. With our guidance, you can confidently manage your cash flow while focusing on completing your project on time and within budget.
Applying for a loan with Trusti Lending is straightforward thanks to our streamlined application process. We help you make a plan that matches your ideal location, price range, and construction goals. Whether you are embarking on major home renovations, buying off the plan, or planning a new build, we guide you through council plans, permits, and council regulations to ensure that your development application proceeds smoothly. Understanding council restrictions and finding suitable land can be daunting, but with our assistance, these hurdles become manageable.
One of the unique aspects of Construction Loans is the Progressive Payment Schedule. This involves making progress payments at different phases of the build based on an 'as if complete' valuation. Our experience ensures that you understand this process clearly and can manage it effectively. Moreover, we provide insights into additional payments such as Progressive Drawing Fees and Out of Contract Items not included in the initial agreement. These fees are important considerations as they affect your overall loan amount and budget planning.
Starting your project on time is another critical factor. With Construction Loans, it's essential to commence building within a set period from the Disclosure Date. We assist in ensuring all prerequisites are in place so that construction can begin promptly. This includes demolishing an existing property if necessary and preparing for new builds. When it comes to home improvement loans for renovations or upgrades, we ensure that your finance aligns with your project's scope and timeline.
Once your project is underway, managing instalments and interest rates becomes vital. With Construction Loans, the ability to pay interest only on the amount drawn down helps manage cash flow efficiently. Our team is here to make sure you understand all aspects of your loan contract, from progressive drawdown to potential changes in interest rates throughout the construction period.
Trusti Lending offers a reliable partner in accessing Construction Loan options from banks and lenders across Australia. We specialise in helping tradespeople and families transform their construction dreams into reality with ease and confidence. Our comprehensive understanding of the process ensures that you can focus on building while we take care of the financial details. Contact us today to discuss how we can assist with your next project and start turning your vision into a reality.
