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Building or

Getting the right loan can make the process easier.


Constructing a home

When you are looking to build a new home or renovating, you want a home loan that can grow as your new home does. You need to access funds as you progress through each stage of the building or renovation process.

At Mortgage Capital Australia we can find you the right loan to suit your needs whether you’re building a home to live in, commencing or adding to a property, or renovating for profit.

Why MCA?

Why it pays to work with us

How does a construction loan work?

Most construction loans have a variable interest rate, this is to allow for the loan to be progressively drawn as the construction or renovation of your home occurs.

During the building or construction period, you only pay interest on the part of the home loan that has been drawn down, or paid out to the builder. You will not have to make a full loan repayment until your home is completed.

In addition to the normal verification documents required, the lender will also require the following documents when seeking a loan for construction purposes:

  • All Risk Insurance, Public Liability and Workers Compensation insurance for your builder
  • Home Warranty Insurance provided by your State Building Service Authority
  • Council approved building plans
  • Signed construction contract and specifications

Once your new home is completed the lender will require the following documents before the final payment can be made to your builder:

  • Final inspection certificates from your building surveyor or local government inspector
  • Certificate of building insurance
Approval process

Approval for a land and construction loan is a little different to approval for an established home. Often the land and building purchase will need to settle separately. To accommodate this, your initial loan will be run as two separate, but simultaneous applications; one for the land purchase and the second one for the total construction cost.

Guidance through each stage

At the completion of each stage, the builder or service provider will present you with an invoice. In order to make the stage specific payment to the builder you will forward this invoice together with your lenders authority to make the payment to the lender and MCA can help guide you through this process.

Your lender may also require an inspection and valuation of work completed so far. A fee may be charged by your lender at payment of each stage.

Facts & Figures

Proven experience and results in mortgage broking

We have been running since 2017, but the experience of our team in the lending and banking space goes back almost 50 years!  Ultimately, it’s our fast, boutique approach, and close contact with over 40 different lenders across the country that proves our mortgage broking abilities.

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Buying a home can be a daunting experience, especially as looking for a loan is generally confusing when you haven’t done it before.


happier futures
with our clients

We strongly believe that loan products should be easy to understand, easy to access, and allow you peace of mind.

Talk to a Mortgage Capital Australia expert today