Loan Features
Approved upfront
The lender approves your loan amount before construction starts, based on building plans, the contract, and your finances.
Progress payments
Funds are released in stages (slab, frame, lock-up, fit-out, completion), not as a lump sum.
Interest-only during build
You usually pay interest only on the amount drawn down, helping cash flow while building.
Inspections at each stage
The lender or their valuer may inspect the build before releasing the next payment. This gives you and the lender peace of mind that each stage is being costed and completed correctly before the builder is paid.
Construction period
Typically lasts 6–12 months, depending on the build and lender.
Reverts to a home loan
Once construction is complete, the loan converts to a normal home loan.
GKM Mortgage Brokers can help set up splits, offsets and repayments properly to avoid costly changes mid-build.
Why use a Broker?
Access to construction-friendly lenders
Not all banks handle construction loans well, brokers know which lenders are efficient, flexible, and experienced with progress payments.
Structure the loan correctly from the start
We help set up splits, offsets, and repayments properly to avoid costly changes mid-build.
Reduce delays and admin stress
Brokers manage paperwork, valuations, and follow-ups so progress payments to the builder aren’t held up.
Strategic advice before you sign a build contract
We review your plans early to identify borrowing or valuation issues before they become problems.
Help navigating lender conditions and fine print
Brokers explain lender-specific rules around variations, fixed-price contracts, contingency funds, and builder requirements.