At Fairlane Finance, we recognise that securing a construction loan can be a complex and detailed process. Having the right team by your side from the outset is essential to ensure your loan is structured correctly and your project progresses smoothly. When it comes to construction loans, you have the option to either act as an Owner Builder or hire a Professional Builder. If you choose a professional builder, they will typically offer either a Fixed Price Building Contract or a Cost Plus Building Contract. A Fixed Price Contract guarantees the completion of your home at an agreed price, while a Cost Plus Contract means the cost of construction is based on the actual expenses incurred, plus an agreed-upon fee. For those planning a renovation, our team can also assist in securing a Renovation Loan, helping you find a lender that offers the right terms and flexibility for your unique needs. Choosing the right lender is a crucial part of the construction loan process. Some banks may charge high interest rates or delay payments to your builder, causing unnecessary delays and added costs. That's why it's vital to work with a team who understands the ins and outs of construction loans and can direct you to the right lender that minimizes your financial risk. Once you've outlined the details of your project and selected a lender, we will ensure that a proper valuation is completed and formal loan approval is obtained before you’re required to make the deposit on your building contract. This proactive approach reduces the chance of surprises during the approval process. Throughout the construction phase, we’ll continue to support you, ensuring that your builder is paid promptly and that your project stays on track and within budget. At Fairlane Finance, we are here to guide you every step of the way. Our mission is to secure the best lenders with the most favourable terms for you, giving you peace of mind as you focus on bringing your dream project to life.