We'll help you fund your new build or renovation

At Allymont Finance, we understand that building your dream home or undertaking major renovations can be an exciting yet complex journey. As a trusted finance and mortgage broking business based in Melbourne, we specialise in helping clients access Construction Loan options from banks and lenders across Australia. Whether you're planning a new build or considering major home renovations, our team is here to guide you through the process with ease and expertise.

Construction Loans can be a valuable resource for those looking to embark on a building project. These loans are distinct as they allow for progressive drawdown, which means you only pay interest on the amount drawn down at various stages of the project. This is particularly beneficial for managing cash flow, as you can make progress payments to registered builders, plumbers, electricians, and other sub-contractors as needed. Additionally, these loans often offer interest-only repayment options during the construction phase, which can help keep your initial costs down.

When applying for a loan, it is essential to have a well-thought-out plan. This includes having council plans and permits in place, understanding council regulations, and ensuring your project fits within your desired price range and ideal location. At Allymont Finance, we facilitate a streamlined application process to help you secure the right loan amount for your needs. Our experts will assist you in preparing for an ‘as if complete’ valuation to ensure that your project is financially viable from start to finish.

Another significant aspect of Construction Loans is the Progressive Payment Schedule. This schedule outlines when instalments will be made at various construction milestones. It’s crucial to commence building within a set period from the Disclosure Date and to stick to the outlined schedule to avoid additional payments or delays. Understanding the importance of this schedule and adhering to it can prevent complications such as Out of Contract Items not included or unexpected Progressive Drawing Fees. Our team will work closely with you and your builder to manage these aspects efficiently.

For those interested in buying off the plan or demolishing an existing property for a new build, understanding council restrictions and finding suitable land are vital steps. Allymont Finance will help you navigate these requirements, ensuring your development application is comprehensive and compliant. With our assistance, you can focus on achieving your vision without being bogged down by regulatory hurdles.

In summary, Allymont Finance is committed to supporting you throughout your construction journey. By helping you access Construction Loan options from banks and lenders across Australia, we aim to make your experience as seamless as possible. If you're ready to make a plan for your new home or renovation, contact us today to get started. Our team is eager to assist you in finding the best financial solutions for your building project.