Navigating the Building Finance Process
Financing a build requires a highly specialised approach compared to buying an established home. Construction loans release funds in stages rather than a single lump sum. At Credoleap Finance, we assist you in navigating fixed-price building contracts, council approvals, and lender requirements so you can focus on watching your new home take shape.
Managing Progressive Drawdowns Efficiently
As your builder hits key milestones—such as laying the slab, completing the frame, and lock-up—the lender requires specific documentation before releasing payments. We help manage this progressive drawdown paperwork between you, the builder, and the bank, aiming to facilitate a smooth flow of funds and help prevent unnecessary construction delays.
How We Support Your Build
Drawdown Administration
We assist with the paperwork required at each building stage to support the timely release of progress payments.
Interest-Only During Construction
Help manage your cash flow by paying interest only on the funds that have actually been drawn down during the build.
Contract Assessment Support
We check that your HIA or MBA fixed-price building contract aligns clearly with lender funding requirements.
Building & Renovation Finance FAQs
Instead of receiving the full loan amount upfront, funds are released in stages ("progress payments") as your builder completes each milestone — such as slab, frame, and lock-up. You typically only pay interest on funds actually drawn down, not the full approved amount.
Generally a fixed-price building contract (HIA or MBA), council-approved plans, and your builder's insurance details, alongside the standard financial documents required for any home loan.
Cost variations need to be documented and may require additional lender approval if they affect the loan amount. We can help you understand how a lender is likely to treat a variation before it becomes a problem.
Yes — substantial renovations are typically financed the same way as new builds, with staged drawdowns tied to the renovation contract, as opposed to a simple top-up for minor cosmetic work.