Building a new home, a granny flat or taking on a major renovation? We compare 30+ lenders and structure your finance around progress payments, so your funds are ready at every stage of the build.
Building is exciting, but the finance side can feel complicated. Unlike a standard home loan, a construction loan pays out in stages as your builder completes each part of the project. Lenders also have extra requirements, such as approved plans, a fixed-price building contract and valuations at key milestones.
At LL Global Group, we take the stress out of the process. We look at your budget, land, builder and plans, then compare construction loan options across our panel of 30+ lenders. We’ll explain how each stage payment works, what your repayments look like during the build and what happens when construction finishes.
Whether you’re building your first home, knocking down and rebuilding, constructing on vacant land, adding a granny flat to your property or undertaking a major renovation, we’ll structure your finance to keep your project on track.
Many NSW homeowners also build using the equity in their existing property. If you own your home, we can show you whether you can fund your project through a construction loan or an equity release, whichever suits you best.
From building a new home or a land and build package to a knockdown rebuild, granny flat or major renovation, we structure your construction finance around your project. Funds are released in stages as each part of the build is completed, and we’ll help you choose between a construction loan and using your existing equity. Investors building to hold or rent can also find out more on our Investment Loans page.
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Powerful Features to Support Your Building Project
Construction finance works differently from a standard home loan, so here are the features we look at when comparing options for your build.
Funds are released in stages as each part of the build is completed, so you're not paying for work that hasn't happened yet.
During construction, you typically pay interest only on the amount drawn so far, not the full loan limit.
Keep repayments manageable while your home is under construction, subject to lender policy.
Use your existing property's equity toward your deposit or build costs.
Options for new homes, secondary dwellings, knockdown rebuilds and major renovations.
Your loan generally converts to principal and interest or interest-only repayments once construction is complete.
Features vary between lenders and products. We’ll help you choose the combination that suits your project and budget.
Building is a big commitment. Here’s how we help you get the finance right from approval to completion.
Access a wide range of lenders so you can compare real construction loan options.
We choose lenders based on their construction experience and policy, not just their rate.
We explain each step, from approval to your final draw-down, so there are no surprises.
We build your loan around your land, equity and budget.
We manage the paperwork and lender communication for you.
Our team understands building costs and the Sydney market.
We stay with you after completion, including regular loan reviews.
Talk to our team and find out how we can support your build from start to finish.
Most lenders look at the following when you apply for a construction loan.
You must be at least 18 years old.
A steady income and employment history.
A good credit history.
Enough deposit, land equity or available equity in another property.
A licensed builder and a fixed-price building contract (most lenders require this).
Council or certifier approval for your plans.
Eligibility criteria vary between lenders. Even if you don’t meet every point, speak with our team, as options may still be available.
Preparing your documents early can help make the application process more efficient. The exact requirements depend on your financial situation, employment type, lender, and loan product.
Commonly requested documents include
Driver’s Licence or Passport.
Recent payslips, employment details, tax returns, or financial statements, depending on your circumstances.
Usually the last 3 to 6 months.
Details of existing loans, credit cards, investments, savings, and other assets.
The signed contract with your licensed builder.
A contract of sale, property address, or other relevant details when available.
Business financial statements, residency documents, or other supporting evidence where required.
Not sure what applies to you? Our team will tell you exactly what to gather.
Ready to build, extend or add a granny flat? Book a free, no-obligation consultation with Ricky and the team. Visit us at B6/406 Marion St, Condell Park, or call us Mon-Sat, 7:00am-5:00pm.
A standard home loan pays out in one lump sum at settlement. A construction loan releases funds in stages as your builder completes each milestone, and you generally pay interest only on the amount drawn so far. After completion, it typically converts to a regular home loan.
It depends on the lender and your situation. Many lenders prefer a deposit of 10% to 20% of the total project cost, including land if you’re buying it. If you already own land or have equity in another property, that can often count toward your deposit.
Most lenders require a fixed-price contract with a licensed builder. Owner-builder projects and cost-plus contracts are harder to finance and are subject to specific lender policies. We’ll tell you what’s possible for your project.
Often, yes. Depending on your equity and the lender, you may be able to fund a granny flat through an equity release or a construction loan. We’ll compare both so you can see which is more cost-effective.
During the build, repayments are usually calculated only on the amount you’ve drawn so far and many lenders allow interest-only repayments during this period. Once your build is complete, repayments are based on the full loan amount.
Our consultation is free. In most cases, we’re paid a commission by the lender, and we’ll always explain any costs upfront.
Construction loans involve more paperwork than standard loans, including plans, contracts and approvals, so they can take longer. We’ll prepare your application carefully to help avoid delays.
