- Last updated on 10 Apr 2020
based on $300,000 loan amount for 25 years
- No upfront or ongoing fees
- Extra repayments + redraw services
- Free redraw facility
- Repayments may decrease if RBA cuts rates
- Not available for first home buyer
- Repayments may increase if RBA raises rates
Interest rate structure
$100k - $1m
Principal & interest
Loan term range
1 - 30 years
Unlimited extra repayments
Redraw fee: $0
Allows split interest
Investors, Owner Occupiers
Estimated upfront fees
Minimum SMSF Amount
Application fee 1.25% of the loan amount.
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A construction loan is loan taken out for the purpose of building or substantially renovating a residential property. Under this type of loan, the funds are released in stages when certain milestones in the construction process are reached. Once the building is complete, the loan will revert to a standard principal and interest mortgage.
Also known as a construction home loan, a building in course of erection (BICOE) loan loan allows you to draw down funds as a building project advances in order to pay the builders. This option is available on selected variable rate loans.