建筑贷款

When you start to prepare the loan, you will be faced with a choice of the form of the loan: should you apply to the bank together with the land loan and the house building loan, or should you divide it into the land loan and the construction loan? Generally speaking, we would advise customers to separate the loans, because this will give them more time to prepare the funds. When the land is delivered, the bank will only require the down payment of the land, and the down payment of the construction can be left to the bank when the house is ready to be built. In this way, it is not easy to encounter the problems encountered in the merger of two loans, that is, the down payment of the construction loan is not fully prepared, so the loan ratio has to be increased to over 80%, resulting in extra LMI insurance.

Drawdown is a construction phase payment, also known as a progress payment. It means that after your loan application is successful, the bank will require you and the construction party to set up several stages of the whole building process in advance. The bank will not pay the construction company for the construction phase until the construction party has completed the construction phase and submitted the bank payment application and relevant receipts. Generally, the construction company will require payment in 5-6 stages (5 stages in most cases). Problems in any of these phases may cause delays in subsequent phases. So before you decide on a construction loan, talk to your loan broker. Because only by ensuring no problems in the early stage of the work, can we ensure that the bank can smoothly evaluate or pay according to the process in the subsequent construction process.