For many Australians building their own home from scratch is the stuff that dreams are made of but getting construction finance to fund the project can be difficult. Universal Finance have access to a huge pool of lenders who specialise in construction funding solutions for people who perhaps are unable to access the funds they need from more traditional lenders such as banks.
Contrary to popular belief, an Australia construction loan differs from a home loan which can only be used to purchase an established property. The structure of a construction loan also differs significantly from a regular home loan as they are not granted in a lump sum but issued as drawdowns or progress payments as you build your home.
Universal Finance also have access to lenders who specialise in commercial construction loans for those building or renovating commercial buildings. With a variety of commercial construction related finance options available, we can help secure the funding you require based on your specific needs.
Simply get in touch with our team and provide a brief outline of your project and we’ll make some recommendations based on the information you provide us with. As Australia’s leading ‘difficult loan specialists’ we can also help developers who need a low doc construction loan. Our lenders realise that not every business operates in the same way regarding their finances and cashflow so tailor their products accordingly. This is in contrast to most banks whose strict lending criteria disqualifies many people from getting the funding they require. If you do have any questions, please don’t hesitate to get in touch.
Here at Universal Finance we make it as easy and straightforward as possible to apply for a construction loan, we can usually provide a decision in hours after receiving your application. We also realise that a ‘one size fits all’ solution for construction loan applications has no place in modern business so research the market to find a construction loan lender that can meet your specific needs.