We help Couples going through divorce looking for a Construction Loan
Navigating the complexities of a construction loan can be challenging, especially during a divorce. Divorce Home Loans aims to make this process smoother for you. We offer comprehensive assistance to couples going through a divorce, ensuring you can access Construction Loan options from banks and lenders across Australia. Whether you're looking to build a new home, undertake major home renovations, or buy off the plan, our expertise can help you manage your financial needs during this transitional period.
When applying for a loan, understanding interest rates and loan amounts is crucial. Our streamlined application process simplifies this for you, allowing you to focus on other aspects of your life. We guide you through every step, from initial application to managing progressive drawdown and progress payments. This approach ensures that you only charge interest on the amount drawn down, potentially saving you money. Additionally, we offer interest-only repayment options, which can be particularly beneficial during times of financial uncertainty.
Construction loans involve various stages of the project, each requiring specific payments. These stages include paying sub-contractors such as plumbers and electricians, obtaining council plans and permits, and adhering to council regulations. Our Progressive Payment Schedule aligns with these stages, ensuring that you have the funds available when needed. The ‘as if complete’ valuation is a key element in this process, determining the value of the property at each stage and ensuring that funds are released accordingly.
When planning your construction project, selecting the ideal location and price range is essential. Whether you are looking to demolish an existing property and start a new build or find suitable land within council restrictions, we can assist in making informed decisions. Development applications and understanding Out of Contract Items not included in your initial agreement are also critical areas where our expertise can be invaluable.
Managing additional payments and construction milestones is another aspect where our guidance proves beneficial. The Progressive Drawing Fee is a cost associated with each drawdown of funds; understanding these fees can help you budget effectively. Furthermore, ensuring that you commence building within a set period from the Disclosure Date is often a requirement from lenders. We help you make a plan that aligns with these timelines, ensuring that your project progresses smoothly.
Finally, our support extends beyond just securing a construction loan. We assist with home improvement loans for smaller projects or renovations that don’t require a full construction loan. This flexibility allows you to address immediate needs while planning for long-term goals.
To summarise, Divorce Home Loans provides specialised support for couples going through a divorce who need access to Construction Loan options from banks and lenders across Australia. From understanding interest rates and loan amounts to managing progressive drawdown and progress payments, our streamlined application process ensures you only charge interest on the amount drawn down. With interest-only repayment options and support through various stages of the project, we help you navigate council regulations and development applications effectively. Contact us today to take the first step towards managing your construction loan needs during this challenging time.
