We have the power to negotiate a competitive deal with over 30 banks and lenders you know and trust, giving you confidence we will find the right loan for you
Need finance for your new home?
We can help.
By our count, there are about 34 opportunities for our customers to get lost, confused, delayed or frustrated managing their own construction loan, and that’s if they’re only negotiating with 1 bank or lender.
With your Domaine Home construction loan specialists who are backed by Loan Market, you delegate the responsibility to 1 committed professional who makes it their mission to negotiate 100s of attractive rates and products with over 30 well-known lenders to secure finance that fits your plans and your timeframe.
And they do this for Domaine Home customers every single day.
Distinct benefits of working with a Domaine Homes Finance Managers
- A panel of 30+ lenders and 100s of loans including exclusive offers
- Specialist negotiators securing competitive interest rates
- No interest charged on any overdue progress payments
- The provision of a tender expiry guarantee to protect against price increases
- Only $10,000 required before contract
- Only 10% deposit required before construction
- Our construction loan expertise and service comes at no cost to you’
*This offer is only applicable to loans secured and finalised (i.e. unconditional loan approval) by our Finance Manager. A $500 Eftpos Visa Gift Card will be issued with your handover pack upon completion of your new home and cannot be redeemed or exchanged for cash or any discount.
All applications must meet certain credit approval criteria to qualify for the loan, ensuring that borrowers satisfy the necessary conditions for eligibility.
LET US HELP YOU
Why use our Construction Loan Specialists?
Find the right interest rate, structure and flexibility for your situation
We do the legwork and paperwork for you in 6 easy steps so you don't have to
We cut out the middleman and become your main point of contact throughout your new home journey
EXCLUSIVE OFFER
Only a $10,000 deposit is required until the start of the site
Required on signing of your fixed price building contract rather than the usual 5% of your contract.
Loan Calculator
Want to maximise your borrowing power?
Find out how much you could borrow, and how much repayments would be for your loan size. Initial interest rates, especially for interest-only loan options, are calculated based on specific timeframes, such as an initial 5-year period for variable loans or a fixed period for fixed loans, and payments made during this time do not reduce the loan balance.
It’s important to shop around - banks and lenders all use different criteria to calculate how much they will lend you. Your borrowing capacity between two banks could be thousands of dollars - the difference between building your dream home or settling for your second favourite.
Our Finance Managers know what each lender is looking for and will use the strengths of your application to maximise your borrowing capacity.
Know your borrowing power in UNDER 5 MINUTES!
Complete the form below and let our team of Finance Managers help you with anything finance related, every step of the way. You have nothing to lose! Our construction loan expertise and service comes at no cost to you.
Please complete the form below to receive a callback from one of our Finance Team members.
Meet your team of Construction Loan Specialists
GM Home Finance
Michael Chadwick
With more than 30 years of experience in finance, Michael knows a thing or two about all types of finance and takes great pride in helping his customers reach their financial goals. "I first started lending in 1992 and I still look after many customers from my early days as a branch lender." "It gives me a great sense of pride to have continued to work with them for many years and now see them financially successful, knowing that I was there to help them on their journey". Michael and his team at Loan Market Elevate are here for you whether you are looking to purchase your dream home to live in, save money on your current home loan or invest in property for your future. When Michael isn't helping customers with their finance, he enjoys his time with family and friends and spending time getting away from the hustle and bustle of the City.
Email: [email protected]
Phone: 02 8850 9086
Michael Chadwick is a credit representative (517867) of Loan Market Pty Ltd ACN 105 230 019 Australian Credit Licence 390222
Mortgage Broker
Rakesh Swami
Rakesh has a passion for helping people and moved into the field of mortgage broking 15 years ago to do just that. His personal motto is ‘Get the job done' and Rakesh will use his skillset, know-how, and experience to make that happen. For many years, Rakesh has specialised in residential construction loans and he also has broad experience with commercial, equipment, and business finance. Rakesh, who is a member of the FBAA, completed a degree in Business Administration & Finance at the University of Sydney. He also completed a Diploma in Business Management and Diploma in Mortgage Broking and Finance.
Email: [email protected]
Phone: 0422122634
Rakesh Swami is a credit representative (480346) of Loan Market Pty Ltd ACN 105 230 019 Australian Credit Licence 390222
Mortgage Broker
James Downey
You’re in safe hands with James. He is a true expert in the world of mortgage broking and wealth management, bringing to the table over 20 years of financial services expertise in these areas. As a residential and construction finance specialist, James puts his knowledge to great use ensuring he provides customers with loan solutions for their current and future needs. As well as being a member of the FBAA, James has extensive training and education, including a Diploma in Finance & Mortgage Broking Management from the National Finance Institute.
Email: [email protected]
Phone: 0418881433
James Downey is a credit representative (498110) of Loan Market Pty Ltd ACN 105 230 019 Australian Credit Licence 390222
Mortgage Broker
Kathleen O'Keeffe
Kathleen established her career in finance over 5 years ago, with a strong background in customer service and a passion to help people reach their financial goals and build strong long term relationships so clients are well supported on their loan journey. Kathleen's down to earth nature and easy going personality makes her very approachable and a pleasure to work with. Kathleen can make light work of what can seem like a very daunting task for clients needing a new loan or wanting to refinance their existing loan to get the most competitive deal, in fact she considers it a privilege!
You can rely on Kathleen to guide you through the often complex lending process. She leverages her education and extensive experience to help you secure the home loan option that is the right fit for you now and in future.
Email: kathleen[email protected]
Phone: 0487 535 663
Credit representative of Loan Market Pty Ltd ACN 105 230 019 Australian Credit Licence 390222
Frequently Asked Questions
How much deposit do I need to purchase a property?
Typically lenders ask for 20% of the total house price before they'll consider giving you a loan but there are a number of ways around this. Some lenders will accept a smaller deposit but it's likely that you'll need to pay Lenders Mortgage Insurance (LMI). There might also be grants that you can take advantage of. Get in touch to chat about your options.
Can you help me understand my borrowing capacity?
Of course! Borrowing capacity refers to how much you can borrow from a lender. As your borrowing capacity can differ widely from lender to lender, get in touch today and we can help you understand your maximum borrowing power from the 30 plus lenders we have access to.
How will you decide which loan is best suited to my circumstances?
With more than 30 home lenders on our panel, you and I are spoiled for choice. We narrow the search down by first understanding your needs and objectives. We will show you the features of each loan and explain the benefits, allowing you to make an informed choice which lender and loan you would like to apply for.
Does it cost to use a broker?
You do not pay a fee for our services. Instead, we're paid a commission by the lender you choose for doing the work on their behalf and looking after your home loan needs ongoing. Learn more here and get in touch if you have any questions.
What fees should I be aware of when purchasing a property?
There are several fees that often aren't discussed in length when buying a property. These include stamp duty, application fees, pest and building inspections and more. Get in touch with a broker today for an up-front conversation about all the hidden fees. Find a summary here.
What grants are available to me?
There are many grants that are available for those wanting a home loan and the options differ from state to state. To find out what grants you are eligible for, get in touch with our Home Finance Managers to help you understand what grants you could be eligible for.
How much does it cost to refinance?
Some of the costs you'd expect to pay include discharge, application and settlement fees and we work with you to ensure that the savings outweigh the costs when refinancing from one lender to another. To find out how much you can save by refinancing your loan, give us a call.
What is Lenders Mortgage Insurance (LMI)?
LMI is required if you need to borrow more than 80% of the value of the property you are purchasing. You pay a premium which can be funded in the home loan and it protects your lender if you can't pay your loan and the home needs to be sold.
What is a Home Loan?
A home loan, commonly referred to as a mortgage, is a financial product that allows individuals to borrow money from a lender to purchase a home or investment property. These loans are typically secured by the property being purchased, meaning that if the borrower fails to make the required repayments, the lender has the right to repossess the property.
Home loans can be utilized for various purposes, including buying houses, apartments, and land. They are also a popular option for refinancing an existing home loan or accessing equity in a property. With a wide range of home loans available, such as variable rate loans, fixed rate loans, and interest-only loans, it’s essential to choose the one that aligns with your financial situation and long-term goals.
Each type of home loan comes with its own set of advantages and disadvantages. For instance, variable rate loans offer flexibility with fluctuating interest rates, while fixed rate loans provide stability with a consistent interest rate over a set period. Interest-only loans, on the other hand, allow borrowers to pay only the interest for a specified time, which can be beneficial for those looking to minimize initial repayments.
Speak with our team to discover how adjusting your loan might reduce your monthly payments and loan term.
What is a Construction Loan?
A construction loan is a specialized type of home loan designed for individuals who are building a new home or undertaking significant renovations on an existing property. These loans are tailored to cover the various costs associated with construction, including purchasing land, buying building materials, paying for labor, and other related expenses.
Typically, construction loans are structured as interest-only loans during the construction period. This means that borrowers are only required to pay the interest on the loan during the time the property is being built. Your Progress Payment Schedule will typically have 5-6 stages during the construction period. Once the construction is complete, the loan usually transitions into a standard home loan, and the borrower begins making both principal and interest repayments. A number of lenders offer construction loans that are interest-only during the construction period and then revert to a standard principal and interest loan once your home has been fully built.
What are the features of Construction Loans?
Construction loans come with several features that make them particularly suitable for those building or renovating a property. Some of the key features include:
Interest-Only Repayments During Construction: Borrowers only need to pay the interest on the loan during the construction period, which can help manage cash flow.
Draw Down as Needed: Instead of receiving the full loan amount upfront, borrowers can draw down on the loan as construction progresses. This means funds are released in stages, aligning with the construction schedule.
Conversion to Standard Home Loan: Once the construction is complete, the loan can be converted to a standard home loan, allowing for principal and interest repayments.
Potential Interest Savings: By only paying interest on the amount borrowed during the construction period, borrowers can potentially save on interest costs.
Compare our panel of lenders
Over 60 banks and lenders you know and trust in the one place.
Choose us to take care of your finance for you and you'll have less to do, meaning more time for things you actually enjoy.
*Any information provided on this website does not take into account your individual objectives, financial situation or needs. You should consider whether it is appropriate for you, and read the relevant disclosure document. Normal lender criteria, fees, charges, terms and conditions apply. **Finance Manager added benefits offer. Terms and Conditions. Effective as at 6/09/2017. The added benefits offer is available to you subject to the following terms and conditions: You meet our Finance Manager’s qualification criteria; You promptly supply and sign all documentation required by our Finance Manager to complete your loan application and to satisfy any further lender requirements; This offer is only applicable to loans secured and finalized (i.e. unconditional loan approval) by our Finance Manager.
Loan Market Pty Ltd ABN 89 105 230 019 | Australian Credit License 390222.
