NewBuild Finance is a preferred supplier of Signature Homes and offers a solution funded by a bank at bank rates, and can fund up to 95% of the finance required to build a new home*. The client can then settle the loan up front (with their deposit paid on the land). No further repayments need to be made on the loan until the new home is built. Banks often won’t use equity from an existing home to fund a new home loan. This doesn’t work for clients who want to keep their current home as an investment or keep it long enough to avoid needing to move their family twice. NewBuild is able to treat the existing home as a rental and can fund up to 100% of the land and build using only equity in the existing home.
Also, with NewBuild any rental income on the existing home can immediately be used to offset the loan. The NewBuild approach also allows an investment property to be 100% geared for tax purposes. Banks are normally unable to do this for a new home.
DO YOU QUALIFY?
Use NewBuild's quick and easy Loan Qualifying Calculator to see if you qualify for Construction Finance to build your new home.