Get away from the tedious lending restrictions, high rates and costs that are generally associated with Land and Construction Loans.

If you are looking to:

• purchase Vacant Land to build on later,
• purchase Vacant Land and construct either a House, Townhouse, Villa or Duplex,
• build on land you have already purchased,
• demolish and rebuild,
• build a small residential project,

than a CommunityBE$T Vacant Land & Construction Loan Facility could be the perfect loan for you.

With the BE$T Rate Vacant Land & Construction Loan you will enjoy possibly the lowest variable rate within Australia plus a great range of features.

BE$T Rate Vacant Land & Construction Loans* start at 7.89%

Range of Features.

• No Application Fee
• No Valuation Fee
• No Interest Rate Loading during Construction
• No Time Limit to commence Construction
• Up to 12 months to complete Construction
• Option to waive Progress Payment Inspections (A minimum of 2 is recommended)
• Borrow up to 95% of land value
• Borrow up to 95% of completion value (land value/purchase price + building costs)
• Owner Occupiers and Investment
• Owner Builder
• Small Residential Projects
• Interest Only Repayments during Construction converting to the repayments of your choice On Completion
• Repayment Capitalisation during Construction
• Bridging Option
• Availability of a Top-Up Loan (up to $25000) to cover any unforseen expenses
• This is a loan that provides construction as an option, as opposed to a Construction Specific Loan
• Hi Lend Option of 100 – 105% available (varied conditions apply)

Bridging Option*
One of the unpleasantries associated with constructing a new home, can be that you may need to sell your existing home before you can purchase land and/or commence construction of your new home. This being the case, it will also mean that you will need to relocate to a short term residence until your new home is built and while you are paying rent or board you must also maintain repayments on your construction loan. This will put extra strain on your cashflow and can be unnerving, plus if you have a young family this short term relocation can result in a lot of heartache and end up being a not so pleasant experience.

A Bridging Option allows you to remain in your existing residence and defer repayments on your construction loan until your new home is built. There is a proviso that your existing home must be sold and settled within a period of 6-12 months from the completion of construction of your new home.

Repayment Capitalisation*
This loan feature is generally utilised within a Bridging Option. The advantage of this loan feature is that you do not need to make loan repayments during the period of construction. If you are still liable to pay rent, board or an existing mortgage repayment while building your new home or investment property, then Repayment Capitalisation may greatly assist you with your Cash Flow management and affordability of construction.

Loan Top-Up*
A unique loan feature that allows the borrower(s) access to a Ready to Go Top-Up Loan (maximum $25000) to cover construction overruns or variations not budgeted for, any under allowance for PC items or extra funds required to complete extras like driveways, landscaping, fencing, window furnishings, light shades etc.

A Pre-approval Certificate is issued with the approval of your loan and you have 90 days within which to take up the offer.

A Ready to Go Top-Up Loan allows borrowers to move into their new home without the stress of finding those extra costs or the disappointment associated with living in an incomplete home.  
 
With a CommunityBE$T Vacant Land & Construction Loan, you have great flexibility and virtually the freedom to build what you want, where you want and when it suits you!

To secure yourself a Vacant Land or Construction Loan that will give you peace of mind and a great rate, start by completing our simple 10 min Online Pre-Application,

Alternatively you can book an appointment with a Mobile Lending Strategist, by phoning the Finance Centre on (02) 4633 8700 or email us and we will contact you.

* Loans, features and options subject to application and approval. Terms, conditions and eligibility criteria apply. Fees and charges may be payable.