Rates from:
Variable rate p.a.*
Comp rate p.a.*

If you are planning to build your dream home or renovate, this loan is perfect for you.

  • Interest only for the first 12 months during construction
  • Borrow up to 90% of the total land and building value
  • Five progress claims and progress valuations

Loan amount

Monthly repayments#
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How are the funds released over the progress of the build?

Progress inspections and invoices
A progress inspection will be carried out by an independent valuer for each building stage. Once your builder sends the invoice to us, a progress inspection will be ordered.

Funds for the construction are released to the builder within five business days. This is to make sure the builder is paid for the work completed once each project milestone is met. 


Progress payments to your builder
The funds available for construction will be drawn down via progress payments which are paid directly to your builder.

This way you are only charged interest on the funds used and not the total approved loan amount, which reduces the interest you pay.

Building or renovating?

Our construction loan is perfect if you:

  • Have bought land and are looking to begin building
  • Are completing extensive renovations to your existing property.

The construction loan offers a competitive interest rate that converts to our market-leading Offset variable home loan once the construction of your new home is complete.

What do I need before I apply?

Before you can apply for a construction loan you must have:

  • Finalised the purchase of your land
  • Selected a licenced Master Builder 
  • Building plans
  • Copy of the fixed HIA/MBA Building contract

The building contract needs to be a fixed price contract so cost of each building stage is preset. This ensures no hidden costs are incurred during the construction process that could complicate the finance arrangements. 

Product features

Progress claims and valuations

Interest Only during construction

No monthly or ongoing fees

After completion

Smart Money app

The different stages of a construction loan

Easy as 1,2,3 makes borrowing simple so you can purchase or refinance with confidence.

Go from application to settlement in three easy steps.

Here’s how to lock in a super-low-rate home loan, super-fast.

  • Apply

    Apply online or on the phone with one of our Australian-based loan specialists.

  • onTrack to Approved

    It is easy for you to track your application to approval, receive your loan documents and set up online services with our award winning onTrack app.

  • Settle and Save

    We do everything required for the loan settlement, so you can start saving money.

Meet some of the team

Our friendly, Australian based, Lending and Customer Care experts will ensure you have a quick and hassle-free experience.

Customer reviews

Value for money: 4.9/5
Customer service: 4.9/5

Based on 237 reviews.
As rated by our settled customers


Timely responses and excellent service
Excellent, professional and efficient service. I loved the way I was kept informed throughout the process and my queries were answered in a timely manner.

Value for money: 5/5
Customer service: 5/5
Recommend to a friend?: Yes

Tuija A. - Wagin, WA
March 01 2018

Done with ease
User friendly and prompt service. Everything was done with ease.

Value for money: 5/5
Customer service: 5/5
Recommend to a friend?: Yes

Joanne P. - Sebastopol, VIC
February 09 2018

A smarter way to get from loan application to settlement

At, we believe applying for a home loan should be a speedy and hassle free process. OnTrack allows you to quickly get your loan through to approval and settlement while we do the heavy lifting for you behind the scenes.




Borrowing power

Find out how much you can borrow based on your income and expenses.


Loan repayments

Shows how your mortgage repayments will vary depending upon the size, interest rate and duration of your loan.


Stamp duty costs

Works out how much stamp duty you'll have to pay depending on the property’s value and location. 

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13 10 90
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7am - 7pm, Monday to Friday. AEST
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