We'll help you fund your new build or renovation
JFS Financial Strategists is your trusted partner for all your construction loan needs in Strathfield, Sydney's Inner West, and across Australia. Whether you’re planning a major home renovation, buying off the plan, or embarking on a new build, we can help you access construction loan options from banks and lenders across Australia. Understanding the unique financing requirements of construction projects, we offer a comprehensive service to simplify the process and ensure you secure the best deal for your needs.
When applying for a construction loan, it's essential to understand the various stages of the project and how the financing works. One of the main features of a construction loan is the progressive drawdown facility. This means you receive funds in instalments as your project reaches specific construction milestones. For instance, payments are made to plumbers, electricians, and your registered builder as needed. This progressive payment schedule ensures you only charge interest on the amount drawn down, helping you manage costs effectively.
Interest rates on construction loans can vary based on factors like loan amount and the lender's terms. Our streamlined application process allows you to efficiently navigate these options. At JFS Financial Strategists, we ensure you get competitive interest rates and flexible terms tailored to your project's requirements. We also provide interest-only repayment options during the construction phase, easing your financial burden until your project is complete.
A crucial aspect of securing a construction loan is meeting council regulations and obtaining necessary permits. You'll need to have council plans and a development application in place before receiving funds. Additionally, it's essential to consider any council restrictions that could impact your project. Our experts at JFS Financial Strategists can guide you through this process, ensuring all legal requirements are met so you can focus on making your dream project a reality.
When you make a plan for your project, it’s vital to account for Out of Contract Items not included in your initial budget. These could include additional payments for unforeseen expenses or upgrades. Our team helps you prepare for these eventualities, ensuring your project stays within budget and on schedule.
Another important factor to consider is the 'as if complete' valuation. This valuation assesses the expected value of your property once construction is finished and is crucial for determining your borrowing capacity. Lenders use this valuation to decide the maximum loan amount they’re willing to offer. At JFS Financial Strategists, we work with experienced valuers to provide accurate assessments, giving you confidence in your financing plan.
If you're looking at demolishing an existing property or building on suitable land, our team can assist with every detail from finding the ideal location to working within your price range. We understand that commencing building within a set period from the Disclosure Date is essential to avoid additional costs such as a Progressive Drawing Fee.
For those interested in major home renovations or home improvement loans, JFS Financial Strategists offers tailored solutions to meet your unique needs. Whether it’s upgrading your kitchen or adding an extension, we help you secure funding that aligns with your goals while navigating any council restrictions.
In summary, JFS Financial Strategists is dedicated to helping you access construction loan options from banks and lenders across Australia. Our expertise ensures you get favourable interest rates and a streamlined application process, with interest-only repayment options available during construction. We assist with every stage of your project, from obtaining permits to managing progress payments and ensuring compliance with council regulations. Let us help you turn your construction dreams into reality—contact JFS Financial Strategists today to begin your journey.
