LOANS

BUYING A HOUSE & LAND PACKAGE

As you will be financing a staged project - not buying a finished property outright, your loan will be for the total completed home’s contract price & usually be drawn down in a number of instalments. These progress payments are made during the construction period, are subject to a satisfactory inspection by the lender’s nominee at set building stages and may incur a charge per inspection.

Before signing up for your House & Land, you should check that the building contract includes the actual contract document, architectural plans for the house and building or tender quotations. (Any job with more than $200 in labour costs must have a written contract.)

Loans Insurance recommends that you have a lawyer or accredited professional check the contract before you sign.

Warranties: all contracts must contain warranties. They relate to performance of the work, materials used, compliance with legal guidelines, completion time and fitness for occupation. The warranty protects you and future owners from substandard workmanship.

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Our Loans Insurance Consultant will help you find the right loan for your house & land package needs, so complete the Express Loan Application online now we will contact you within 24 hours.