Interest-only residential home loans are residential mortgages where your monthly repayments are composed of only the interest that is charged by your lender.
They vary in difference compared to the traditional amortising loans, where monthly repayments are made up of both principal and interest. When both the principal and interest are paid, your loan balance is reduced during your loan term. Since interest is determined by the outstanding balance of your residential home loan, the specified amount of interest that you will be expected to pay will, in turn, also reduce.
On the other hand, when it comes to an interest-only loan, your loan balance during your loan term will not reduce due to the fact that your repayments will only cover the interest on the amount you have borrowed. Your loan balance is not reducing, and hence you will end up paying an increased amount of interest over the period of your loan.
If you are unsure if interest-only residential property loans are the right fit for you, we have outlined a few of the benefits that come along with an interest-only residential loan.
Very Suitable For Construction Loans & Valued-Added Projects
In the instance that an investor is constructing a property, there is a requirement to try and preserve as much cash as you can during the construction phase of the project. Correspondingly, a general construction loan contains a pre-funded interest reserve account from which interest-only repayments are withdrawn whilst the property is under construction. When the property has been built and has been tenanted, the payments of your loan change from interest-only to principal and interest in order to line up with the property’s enhanced income.
This notion is very similar when it comes to value-added projects. Investors have elevated upfront costs to renovate a property, and there is a necessity to utilise their capital for this purpose. Obtaining an interest-only loan is very beneficial for an investor as they are able to conserve their capital until the renovations are completed, and the property is capable enough to produce enough income to gradually write off the initial cost of the loan.
Stabilises & Advances Your Cash Flow
Prospering property investment is all about cash flow. Utilising an interest-only loan can enable you to be more in control of your cash flow over the period of your loan term. To make the most out of the compounding and leverage of your investment property, you need to hold your investment properties for an extended amount of time. Therefore, the only way to do this is by creating financial buffers or cash flow.
Interest-only home loan repayments allow you to pay the merest amount demanded by your loan. This then provides you with extra money in your pocket to pay for any added expenses such as council rates or repairs.
Allows You To Prioritise Your Debt Allocation
Interest-only loans for the purchasing of residential properties are very beneficial as it provides you with the ability to pay off your debt. Interest-only repayments indicate that you are servicing your loan whilst your property advances in value. Furthermore, these interest-only repayments are also deductible from your income, ultimately reducing your tax.
In the meantime, with an interest-only residential loan, you have the ability to pay off any non-deductible debt, such as your credit cards or your car. Paying these debts off should be a priority.
Use Of Offset Accounts Reduce Your Interest-Only Repayments Even Further
An offset account is a simple transaction account that enables you to utilise your surplus cash in order to offset against the interest applicable to your loan. They work by providing you with the ability to transfer any additional savings that you have into an account that is then linked towards your mortgage. This extra cash is used to counteract your mortgage and hence minimises your interest repayment amount.
Proves To Be Very Tax Effective
In Australia, it is acceptable for all investors to claim back any costs that are linked with owning assets, and this does involve interest on residential investment property loans. In regards to property investors, the interest element of their residential property loans is added to the annual costs of retaining a real estate investment. Needless to say, this is offset by the income that is obtained through rent.
Making use of interest-only residential home loans makes it effortless to determine what your annual repayments are.
Reach out to Greenline Home Loans today!
If you have been considering buying your first home, buying a residential property or wanting an interest-only residential home loan, get in touch with our team of experienced brokers at Greenline Home Loans. We have access to 50 lenders and a strong relationship with several major banks to assist you and offer a solution to suit your needs.
At Greenline Home Loans, we will tailor the best solution for your needs and walk with you hand in hand from the first day you consider a construction loan or small business loan. Contact our friendly team of brokers to speak about low-rate home loans on 1800 705 505 to get started today!
Home equity refers to the difference between your home’s current market value and your mortgage balance. As a very important element for your financial future, home equity helps you to build wealth. Retaining equity in your home acts as a resource where you are able to borrow against it in order to enhance your property or simply to pay off any high-interest debts.
What Are The Benefits Of Unlocking And Accessing Home Equity?
Low-Interest Rates
Favourably enough, home equity loans don’t entirely rely merely on only the lender. Financial institutions, including banks and brokers, hand out loans in a way that guarantees a sure return for both themselves and their clients. So, in saying that lower interest rates are offered for home equity loans as compared to other loan types. These low-interest rates prove to be very beneficial on your behalf if you do not have high-interest debt on your credit card. When applying for a home equity loan with Greenline Home Loans, you can ensure that you will receive the best home loans.
Ability To Fund Home Renovations
Several homeowners unlock and access their home’s equity to aid in funding a home renovation. If done in an accurate manner, not only is there a possibility to boost a property’s value by more than what is spent, but it can also save you the hassle of having to upsize your home and having to go through the whole inconvenience of selling, buying and moving.
It is crucial to keep in mind to do your research before carrying out such renovations. Ensure that you are careful with your budget, as overcapitalisation – the amount spent for renovations ends up costing more than the value they add to the property – is a very common mistake for amateur renovators.
Power To Borrow Large Sums Of Money
There are individuals who have excellent credit scores that may need to borrow against the value of their home in order to receive a large sum of money. Accessing your equity from the value of your home provides you with easy-to-obtain large sums of money that you may not qualify for through other avenues. If you find yourself in a position where it is necessary to borrow a large sum of money, then a home equity loan would be an excellent option for you.
Home Equity Line Of Credit For Business
If you are searching for something a bit more flexible, a home equity line of credit (HELOC) for your business is a great solution. As compared to standard commercial loans, HELOCs can provide you with the ability to access funds at your convenience, and you are able to take out extra as needed without any retributions.
When it comes to a HELOC, the application and approval process is generally much more trouble-free in contrast to other alternatives. As with a home equity loan, there is a chance that the interest within this loan will be tax-deductible, and the loan terms usually span from 15 to 20 years.
Great Opportunity To Purchase A Commercial Property
If you have owned your home for a few years, there is the possibility that you have built up enough equity. This is a worthy resource when it comes to property investment. Your home equity can be used instead of a cash deposit to buy another property.
Once you have decided on your commercial loan with Greenline Home Loans, we will work closely with you to get this application process underway and support you all the way through to settlement.
How Do You Unlock and Access Home Equity With Greenline Home Loans?
Below we have summarised the various steps that are involved with unlocking and accessing your equity with Greenline Home Loans.
- Determine how much equity is available in your property
- Work out the amount of equity that is accessible with your mortgage broker
- Evaluate the various loan options with your mortgage broker
- Calculate the costs associated with accessing such equity
- Loan application and settlement
- Access your equity and utilise it for any purposes you feel best
Reach out to Greenline Home Loans today!
In an instance where you may need to borrow some money to achieve some personal goals like renovating your home, purchasing a new car or even travelling overseas, releasing equity from your property is a very favourable option. Here at Greenline Home Loans, you can rely on us for the best home loans with the lowest home loan rates and customer service that you will value for the life of your loan.
If you have been considering buying your first home, buying a residential property, are after a commercial loan or want to access the equity in your home, get in touch with our team of experienced brokers at Greenline Home Loans. We have access to 50 lenders and a strong relationship with several major banks to assist you and offer a solution to suit your needs.
At Greenline Home Loans, we will tailor the best solution for your needs and walk with you hand in hand from the first day you consider a cash out – equity release. Contact our friendly team of brokers to speak about our low-rate, best home loans on 1800 705 505 to get started today!
In the past year, property prices across Australia increased dramatically by 23.4%. Those buyers who are on a tight budget are particularly longing to uncover a real estate bargain.
In New South Wales, one of the cheapest areas happens to be Mannering Park, located on the state’s central coast, where the median house price is set at $614,000. Proven that it has a direct position on Lake Macquarie with numerous recreational activities available in its surrounds, Mannering Park is a holiday hotspot at its finest. With a thriving population, great schools, and close proximity to the M1, this location is perfect for those who are searching for a change of scenery and is a good chance for those first home buyers wishing to step foot in the market or for those who wish to retire in an amazing waterfront location.
The cheapest metropolitan suburb overall within NSW is that of Emerton, located in Sydney’s West, with a median house price of $580,000. Other areas in close proximity in the Blacktown region with low median house prices are Lethbridge Park ($602,500), Blackett ($605,000), Tregear ($607,500) and Bidwill ($608,750).
Among the cheapest metropolitan suburbs for units within NSW happens to be Warwick Farm, with a median house price of $358,000, followed by Wiley Park, with a median price of $378,000.
Moving along to Melbourne, the cheapest metro suburb to purchase a house in was Millgrove, located in the city’s outer east, with a median house price of $531,000. With a very friendly neighbourhood, access to the river, mountain bike tracks, great supermarkets and dining options, Millgrove has so much to offer.
The suburb of Melton, in the city’s west, was Victoria’s cheapest suburb for houses overall, with a median price of $450,000, followed by Kurunjang ($486,000), Melton South ($500,000) and Coolaroo ($500,000).
The cheapest metropolitan area for units overall is the suburb of Albion, in Melbourne’s west, with a median unit price of $285,000, followed by Melton South ($321,250) and Melton ($346,00).
When it comes to South Australia’s list of cheapest suburbs, Elizabeth North has a median price of only $209,000. Elizabeth North is described as a hidden treasure, particularly for first home buyers and savvy investors.
Salisbury was noted as South Australia’s cheapest suburb for units, with a median unit price of $255,000.
Moving down to Tasmania, the Australian state with the cheapest suburb for houses, Bridgewater documented a median house price of $377,875. With good amenities such as shopping and parks to a popular private school nearby, the demand for houses within Bridgewater has continuously increased. The area has become more and more popular.
Hobart’s suburb of Claremont ranked the state’s cheapest for units, with a median price of $403,500.
Transitioning to booming Queensland, there have been no major Brisbane suburbs on the state’s list for the cheapest areas for a house. Russell Island, located southeast of Brisbane, comes in on top with a median house price of $255,000, followed by Laidley ($271,500) and Riverview ($300,000).
In regards to units, some of the lowest metro area median prices in the Sunshine State were Woodrige ($181,158), Goodna ($221,000) and Brassall ($240,000).
Reach out to Greenline Home Loans today!
If you have been considering buying your first home, buying a residential property or wanting a residential investment property loan and are looking for the best home loans, get in touch with our team of experienced brokers at Greenline Home Loans. We have access to 50 lenders and a strong relationship with several major banks to assist you and offer a solution to suit your needs.
At Greenline Home Loans, we will tailor the best solution for your needs and walk with you hand in hand from the first day you consider purchasing an investment property with your super. Contact our friendly team of brokers to speak about low rate home loans on 1800 705 505 to get started today!
It is a no-brainer that the affordability of housing has become a major challenge for Australians. It can be quite difficult for many first home buyers to get their foot into the property market. A great option available for potential investors to help them break into the increasingly difficult property market is through the use of a SMSF (self-managed super fund). It is important to keep in mind that you are unable to invest in and purchase property with a standard industry super fund.
Below we have outlined the various benefits that come with using your super to invest in property:
Provides Tax Advantages
Particularly if you have a high-yield property, it may be beneficial to purchase and invest in the property using your superannuation. Any income that you earn will be taxed at 15% as compared to your personal tax rate, which is usually much higher. The tax rate on capital gains can drop to just 10% after you have held your property for over a year. If you do plan on selling your property after you enter into your pension phase, you will no longer pay tax on capital gains.
In addition, the interest this is accrued is tax deductible for your SMSF. This can aid in reducing your SMSF’s tax obligations.
Aids in Saving for a Deposit
As the cost of living keeps increasing, it is becoming impossible for people to keep up with this trend, meaning it is very difficult for them to save up for their first home deposit. Using your superannuation to get into the property market sooner rather than later provides individuals with the extra leg up that they need to purchase their very first home.
Benefits are Enhanced for Business Owners
Business owners can hold their commercial premises under their SMSF and pay market-value rent to the SMSF. By purchasing your business premises in a SMSF, business owners can minimise the tax paid on rental income and can guarantee an asset for their retirement without the need to alter their business cash flow. In this case, your business is becoming a tenant of your SMSF and pays rent to it like it would to any other landlord.
Strengthens your Retirement Income
When it comes to your self-managed super fund, it can catch all of your income and capital gains from the property investment in your super. Plus, if there happens to be no loan on the property that your SMSF owns, you can utilise this rental income to help fund your pension account. This investment income is known as Exempt Current Pension Income (ECPI) and may be tax exempt.
Why Choose Greenline Home Loans For Your SMSF?
A self-managed super fund is a great way to leverage your superannuation into an investment property to secure your future. Greenline Home Loan’s self-managed super fund loans are designed to cater to a wide range of investors, and we can consider both residential and commercial properties on a loan term of up to 30 years. We understand that depending on the location of your property, you may find it difficult to obtain approval for your SMSF loan with other lenders. Rest assured, Greenline’s product caters for inner-city properties as well as high-density and regional properties.
Our competitive loans are ideal whether you a purchasing a property or looking to refinance. Here at Greenline Home Loans, we accept applications for both new SMSFs and established SMSFs. Unlike other lenders, Greenline’s unique product does not have a minimum balance required and accommodates for SMSFs without liquidity and a cash buffer. Greenline’s SMSF loans can be either variable or fixed, and investors can choose to make interest-only repayments or make both principal and interest repayments.
Our unique variable product allows you to make unlimited extra repayments and gives you access to a 100% offset account on all your variable loans. You will have the ability to be able to customise your loan to your own preferences by creating multiple splits with no extra costs. Plus, our market-leading and user-friendly platform provides you with full access to your SMSF loans and your transaction accounts, along with unlimited transactions on all your accounts.
Reach out to Greenline Home Loans today!
If you have been considering buying your first home, buying a residential property or wanting a residential investment property loan and are looking for the best home loans, get in touch with our team of experienced brokers at Greenline Home Loans. We have access to 50 lenders and a strong relationship with several major banks to assist you and offer a solution to suit your needs.
At Greenline Home Loans, we will tailor the best solution for your needs and walk with you hand in hand from the first day you consider purchasing an investment property with your super. Contact our friendly team of brokers to speak about low rate home loans on 1800 705 505 to get started today!
We have a team of experienced brokers at Greenline Home Loans who can assist you with acquiring and applying for commercial property loans, investment loans, home loans, bridging loans, debt consolidation and more. Our team can ensure we offer top customer service, provide personalised advice, and guide you through the process of an investment or commercial property loan.
Our commercial property loans and investment property loans have several features which aim to assist you in meeting your financial and personal goals, with added ease and security.
Commercial property loans
You may be looking for a commercial property loan for many reasons. Commercial property loans are generally used when someone is looking to buy a premise for their company, although can sometimes be used when an investor is looking to diversify their property portfolio. Greenline Home Loans can assist you in finding the best commercial property loan for you and provide many benefits and offer a range of opportunities for you and your business, which may include:
- Onboarding of new staff members
- Implementation of new contracts
- Increased stock levels
- Equipment upgrades
- Initiatives and campaigns to boost new business
Greenline Home Loans can assist in all aspects of applying and acquiring your commercial property loan, and will work with you to understand your circumstances, goals, requirements, and budget. Our commercial property loans have 4 main features which include:
- Flexibility with loan terms – a commercial property loan can generally be paid off over a shorter loan term in comparison to a home loan. Our commercial property loans are offered over various terms.
- Interest-only repayments – commercial lenders may be able to negotiate interest-only repayments for commercial property loans for people who meet certain requirements such as a large deposit and strong cash flow.
- Capitalising interest – there may be the possibility for the interest of your loan to be added onto the commercial property loan depending on some variables such as the loan staying below a certain threshold and under a specific percentage of the property value.
- Line of credit facility – line of credit offers flexibility, control and value which may be beneficial for a commercial premise as maintenance and costs can add up.
Our experienced brokers at Greenline Home Loans can answer any questions you may have about commercial property loans, the process of applying and what the loans entail.
Investment property loans
A residential investment property may be an appealing option if you are looking to expand your investment portfolio or meet your financial and investment goals. Our friendly team aims to guide you throughout the process of securing an investment loan, from the application process through to post-settlement.
Greenline Home Loans can assist you in finding the best residential investment property loan for you and provide many benefits and offer a range of opportunities for you and your investment goals, which may include:
- Interest-only payments – interest-only payments allows borrowers to only pay interest for a set amount of time, which generally ranges from 5-10 years which is a great way to save some extra money.
- Offset account – an offset account can be used by investors as a form of a savings account, which may reduce the interest charged towards your loan depending on the balance of the offset account.
- Repayment holiday – a repayment holiday can be used if the investor needs to take a break from repayments (which is generally available for up to 12 months) in the event that the property is unoccupied, and the investor is not able to rely on rental income.
- Line of credit facility – a line of credit facility may be an option where the investor can borrow additional money without reapplying, and it will be secured against the equity in the property.
Our friendly team at Greenline Home Loans can assist you with any questions or queries you may have about investment loans. We aim to assist you in meeting your future and financial goals!
Reach out to Greenline Home Loans today!
If you have been considering buying a residential investment property, or are looking into commercial property loans, get in touch with our team of experienced brokers at Greenline Home Loans. We have access to 50 lenders and a strong relationship with several major banks to assist you and offer a solution to suit your needs.
At Greenline Home Loans we will tailor the best solution for your needs and walk with you hand in hand from the first day you consider purchasing an investment property to looking at investment property loans. Contact our friendly team of brokers to speak about investment loans, commercial property loans and home loans on 1800 705 505 to get started today!
At Greenline Home Loans, our aim is to provide the best home loans with the best home loan rates to suit people with various needs. We offer which include residential home loans, residential investment property loans, home loan refinancing, debt consolidation, bridging loans, construction loans and cash out equity release.
Below are some of the best home loans we offer at Greenline Home Loans and the features they offer:
Residential home loans
Applying for a residential home loan can be overwhelming and difficult to understand, that’s why our experienced team at Greenline Home Loans can provide you with all relevant information and assist you in the application process to ensure you have access to the best home loans.
We aim to provide low rate home loans, low fees and increased flexibility to suit your needs and requirements. Our professional brokers have extensive knowledge of Australian residential home loan markets! Get in contact with our friendly team at Greenline for assistance with a residential home loan.
Residential investment property loans
Residential investment property loans are a great option if you are looking to purchase an investment property, or you are looking to expand on the market as an experienced investor! At Greenline Home Loans, we offer low rate home loan options for residential investment property loans along, which have beneficial features such as the loan process being hassle free and convenient as well as having access to cost effective options.
Home loan refinancing
There are several reasons why you may want to refinance your home loans such as debt consolidation, a change in your personal circumstances, wanting to release equity from your property and more. Our home loan refinancing options provide a number of features which include equity access, lower interest rates, flexibility and the ability to reduce the length of your loan.
Our advisers at Greenline Home Loans can assist you with home loan refinancing by customising solutions to fit your requirements and needs with options such as interest-only loan terms, a combination of fixed and variable loans, offset and redraw facilities and guaranteed loans.
Debt consolidation
Debt consolidation will combine all your debts into a single loan or one credit card amount, which may make this a beneficial option if you have been managing multiple loans or credit cards and you are wanting to consolidate them. Debt consolidation will leave you with one loan which means you will now only have one repayment cycle. There are many product features of our debt consolidation at Greenline Home Loans which include a reduction in your costs which will maintain your debts, an improvement in your credit score, a fixed end date and simplified repayments.
If you are wanting to consolidate your debts into a single loan, manage your debt, easily track your repayments, save on loan fees, and interest rates, our team at Greenline Home Loans can assist you!
Bridging loans
A bridging loan can ensure you have time to sell an existing property when purchasing a new home, without the added stress of having to line up, and time settlement dates. There are many features of a bridging loan which include utilising flexible lending criteria, being fast to arrange, utilisation of an interest-only bridging loan and being convenient.
Our team at Greenline can provide you with the lowest bridging loan rates and answer any questions you may have about the loan approval process.
Construction loans
A construction loan is commonly referred to as a drawn-down loan, as the loan is drawn down progressively to pay for each stage of the construction process. Generally, for the first 12 months of the loan the loan is based on an interest only basis, then the loan will generally revert to principal and interest payments. A major benefit of a construction loan for many people is the advantage of managing your cash flow effectively throughout the building stages.
A construction loan generally contains 5 stages which trigger the progression of the draw down. The 5 stages include slab down or the base, frame stage, lockup, fixing and completion. Get in contact with our experienced team at Greenline Home Loans who can assist you with any further questions about the process or information regarding construction loans.
Cash out – equity release
A cash out/equity release may be the best option if you are looking to meet some personal goals such as renovating your home. One of the main benefits of owning your home is being able to have access to the equity in your property and use it as collateral when you are looking to make home improvements such as renovations.
The features of a cash out equity release include prolonged repayment terms, a possibility of tax-deductible interest, lower interest rates and fixed interest.
Reach out to Greenline Home Loans today!
If you have been considering buying your first home, buying a residential property or wanting a residential investment property loan and are looking for the best home loans, get in touch with our team of experienced brokers at Greenline Home Loans. We have access to 50 lenders and a strong relationship with several major banks to assist you and offer a solution to suit your needs.
At Greenline Home Loans we will tailor the best solution for your needs and walk with you hand in hand from the first day you consider a residential home through to the option of home loan refinancing. Contact our friendly team of brokers to speak about low rate home loans on 1800 705 505 to get started today!
Over the past year we have had many inquiries from people looking to purchase a house & Land package or complete a knockdown-rebuild on their existing home.
Building your own home is an experience like no other. Having the ability to choose exactly what your home will look like, inside, and out, rather than buying a house designed by someone else, means you get to live in your dream home. But there are a few things to consider, pros and cons, which we thought you should know about.
To begin with, you will need to apply for a construction loan which is different to your standard mortgage loan when buying an established home.
What is a construction home loan?
The construction loan is also known as a progressive Drawn-down loan. The loan is progressively drawn down as required to pay for each stage of the construction.
The loan is typically provided on an interest only basis for the first 12 months, allowing you to manage your cash flow more efficiently during the building stages. Once construction is finalised, the loan typically reverts to Principal and Interest repayments.
How do progress payments work?
Typically, there are 5 stages of the construction process which will trigger the progression of the draw down.
- Slab down or base
The initial portion of the loan, which is designed to cover the ground levelling, plumbing and waterproofing of the foundations. - Frame stage
The portion of the loan which is designed for building the frame of the property. This covers the initial brickwork, windows, roofing and trusses. - Lockup
The portion of the loan which is designed to support the construction of external walls, along with putting in place windows and doors, making the property lockable. - Fixing
The portion of the loan which is designed to support payment for the internal fixtures and fittings. This covers plumbing, electricity, installation of cupboards and external gutters. - Completion
The final portion of the loan which is designed for the conclusion of items that form part of the construction contract, putting in place the finishing touches.
For the purpose of calculating the interest applicable on the loan, the repayments are calculated based only on the amount that has been drawn down. For example, if the total approved construction loan is $400,000 but you have only drawn $100,000 to pay for stage 1, your interest is only based on the amount drawn of $100,000. This means you are not forced to pay any interest on funds that have not been used, saving you in interest repayments and supporting your cash flows.
While the rates on construction loans might be slightly higher to begin with, once construction is completed the loan can revert to a standard mortgage loan, enabling you to benefit from lower rates.
Now that you have a simple understanding of construction loans let us talk about some of the issues our clients have faced with their construction purchases and loan applications and how we have helped solve every issue and get our clients to achieve their dream of owning their self-designed home.
Limitations on lending
Determining the amount of borrowing the lender will approve depends on several factors which include the valuation of the property upon completion of the construction stages.
While most lenders will allow you to borrow up to 95% of the property value when applying for a loan on an existing home, construction loans can be limited, and the maximum lending can change from lender to lender.
In current market, most lenders limit that borrowing for construction purposes to 90% which means you need higher savings to support this type of purchase. Some lenders even limit the lending amount to 85% and even 80%.
Greenline Home Loans ensures we are kept up to date with the lending market to ensure we can find our clients the most suitable solutions and when required find them the lender to support the purchase on the 95% LVR basis.
Essential repairs
When signing a construction contract with a building company it is important to understand what is included and what is excluded from the contract. Ideally you would want everything included in the contract, from the house interior including flooring, blinds or the air conditioning unit, and exterior all the way to the driveway, landscaping and fencing in the back.
The valuation report which supports the loan application will include any item excluded from the contract and an amount itemised under “Essential repairs” which the lender will want to ensure you have sufficient funds to cover. Essential repairs can amount to $20,000 or $30,000 at times and this means you will need to hold that amount in addition to your required deposit funds prior to the loan being approved.
At Greenline Home Loans we support our clients and have been able to secure lending for these out of contract items by providing the lender with quotes for these out of contract items and borrow funds to pay external contractors for the work.
Progress payments
Once you have secured the loan and settled on your land you will move into the construction stages. At this stage, the builder will issue invoices against every completed stage of the construction and will request payment. There are several steps that must be followed before payment is made by the lender including an inspection of the construction site by the bank valuer, and provision of supporting documents from the builder. Most builders request payment within 7 days of issuing an invoice, with penalties for late payments, which can put a lot of stress on the clients to ensure all requirements are met in a timely manner.
At Greenline Home Loans we take the stress away from our clients and support them throughout the entire process by managing all construction stage progress payments and liaising with the builders, lenders, and valuation firms to ensure a timely turn around time for each payment request. This takes the stress away from our clients and can save them potential penalties.
If you are considering building your dream home and need to discuss your finance requirements, talk to our team of experienced brokers at Greenline Home Loans. We will tailor the best solution for your needs and walk with you hand in hand from the first day you consider the house design and until you get the keys and move in.