This unique, tailored package offers those currently paying a mortgage or rent, to realise the dream of owning a new home without the burden of repayments during construction.
The "Home Construction Offset Loan" is a unique, tailored loan package only available through Rawson Homes, in conjunction with FYI Finance. This package has been designed to enable clients to borrow up to 90% of the total value of the property to be built, including the land, as well as an additional 5% to cover the interest only repayments during the construction period.
Our services will cost you no more than if you were to meet with one of the major banks. We can meet with you at a time and place convenient to you to discuss your options and provide you with the ability to secure your new home.
Being a full member of the Mortgage Finance Association of Australia (MFAA) and the Astute Group all FYI Finance brokers operate under a strict code of conduct and ethics.
- Formal approval to approved purchasers can be obtained on unregistered land giving you peace of mind for the long term purchase. A feature that is not available from other lenders.
- Repayments are capitalised and left in an offset account and made available to meet the monthly interest only repayments during the construction period.
- Minimum deposit of 10% required in cash or equity.
- Variable rate of 7.14% interest only during construction.
- Funding is available for purchases in the Sydney Metropolitan area, across regional NSW and the ACT.
- No ongoing monthly or annual fees. Additional regular repayments and lump sum payments are acceptable. Redraw facility available when the construction is completed.
- Package can also be used for bridging finance at the same competitive rate (maximum peak debt of 85%).
- Lenders Mortgage Insurance (LMI) can be capitalised to a maximum of 97% of the property value.
- Specialist Lending for Construction
- Lending for Unregistered Land
- Residential Home Loans
- Investment Home Loans
- Refinancing & Consolidation
