Solar Construction Loan
Get Australia's lowest rate construction loan discount when you go solar.
Get started
Ready to go solar? Simply apply online or chat to a lending specialist and they can do the hard work for you. We make the process easy so you can settle, start the build and start saving money, and the environment, sooner.
What is a Solar Construction Loan?
Building? Save money on construction and household expenses. Our Solar Construction Loan lets you:
- Enjoy a reduced home loan rate,
- Cut your future cost of living, and
- Help the environment
Welcome to our Solar Construction Loan for eligible applicants who install solar. This is a construction loan like no other, offering a generous discounted interest rate with no monthly, annual or ongoing fees.
Solar panels already reduce your energy bills. Now, they can also cut your construction loan repayments too. Simply provide an invoice, quote or contract with solar details to qualify for our Solar Construction Loan.
We make construction real easy.
Solar Construction Loan Rates
Solar Construction Loan Rates
Solar Construction~
Up to 90%
NA
6.43%
6.68% comp rate*
Solar Construction Investor~
Up to 80%
NA
6.94%
7.19% comp rate*
Owner Occupier~
Interest Only
Variable rate p.a.
Comp rate p.a.*
Investor~
Interest Only
Variable rate p.a.
Comp rate p.a.*
Want to see more home loan options? Compare our home loans
Want to see more home loan options? Compare our home loans
Why choose the Solar Construction Loan?
Discounted solar
rate
Save yourself thousands in interest while saving the environment with the discounted solar construction rate.
Interest Only during
construction
Pay interest only repayments during the construction period.
No monthly, annual or ongoing fees
We don’t charge any monthly, annual or ongoing fees, so you can save thousands and focus on what is important to you.
$0
Application fee
As an online lender, we save in overhead costs and pass those savings directly on to you. So, we don't charge you an application fee.
$0
Monthly fees
In addition to our great low rates, we don’t charge you any ongoing fees.
$0
Annual fees
We won’t even sting you with an annual fee!
The different phases of a construction loan
Before you apply you'll need:
Finalised purchase
A Licensed builder
Building plans
Building contracts
Builder’s insurance
Once your loan is approved the 6 construction stages are:
Deposit
Slab down
Frame up complete
Lock-up
Fixing
Practical completion
Once construction is about to finish, and before final payment, you’ll need:
A copy of your Occupancy Certificate
A copy of your home building insurance
Signed authorisation, so the builder can fix anything before the final payment is made.
Final payment
Once the final payment has been made we’ll convert your construction loan to a standard variable loan, which will include both a redraw facility and offset-sub account.
Solar home loan calculator
Want to help the planet, and yourself? Solar systems already reduce your energy bills. Now, they can potentially also cut your home loan interest rate and repayments too. Apply for our Solar Home Loan to enjoy a lower interest rate for the first 5 years when you have solar panels, whether installed now or later.
Use our calculator to check if you qualify for the Solar Home Loan.
Get Australia's lowest rate construction loan discount when you go solar.
Our construction process
Application
Simply fill out your home loan application online by entering some of your details, or chat to one of our friendly lending specialists over the phone and they can complete your application for you.
onTrack
After your application is complete, use our system we call onTrack on your desktop or device to add your documentation such as payslips and bank statements, and track the progress of your application.
Speak to specialist
You will then have an appointment with one of our lending specialists to organise your preliminary approval of your loan, and help you progress through the home loan approval process through to settlement as quickly as possible.
Signing document
Check onTrack to received your final approval, mortgage documents and loan agreement. You must sign these and return them in to onTrack.
Settlement
Your loan will settle and you’ll start saving with your new loan rate, and get your keys to your new dream home!
Access your account
Once settlement is complete, we will send your login credentials to start managing your payments in the Smart Money app.
Fund construction
Now we start to pay for each stage as it is completed. As each stage is finished, we arrange a progressive inspection and then, if everything is in order, we pay the builder directly. The stages of the construction loan are listed below.
-
Deposit - Paid to the builder to commence work
-
Base - Concrete slab complete or footings and base brickwork complete
-
Frame - House frame complete and approved by inspector
-
Lockup - Windows/doors, roofing, brickwork, insulation
-
Fixing - Plaster, kitchen cupboards, appliances, bathroom, toilet, laundry fittings/tiling, heating, fixing/internal doors, etc., plumbing, electrical, painting
-
Practical completion - Fencing, site clean-up, final payment to builder
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