![]() Lenders tend to view some applicants more favourably than others.Īpplicants that are licensed builders, have experience with one or more trades or are using a program such as the Home Building System are seen as a lower risk.įor more information on different lending policies or to speak to a specialist mortgage broker about applying for a loan, complete our enquire online or call us on 1300 889 743 and we can help you get approval! Apply for owner builder finance Since then, several banks noticed that there was a high incidence of people changing their plans, going over budget or not completing the project.īecause of this, many banks and building societies have withdrawn their funding for people that are building their own home. In the past, many lenders were happy to work with owner builders. You may be able to borrow up to 100% of the land and construction costs by using a guarantor. ![]() The lending guidelines can be tough but we can help! ![]() Owner builder construction loans are available from a few select lenders if you have equity in your land, savings, or a guarantor that’s willing to provide additional security for your mortgage. Did you know that most banks only finance the construction of homes built by licensed builders?
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