Apply Now

Building a new home doesn’t Have to be stressful

Talk to us

Let our consultants take care of your construction loan in Point Cook

Instead of buying an already established home, you may be thinking of constructing a home of your choice. It can be a wonderful and exciting thing to do but setting up a home can be pretty expensive. To help you with the construction process, a construction loan can provide you enough finance so that you can get a home you have always dreamed of.

“Consult a loan expert at Credit Hub and save yourself from the inconvenience of getting a construction loan.”

Advantages of Construction Loans

Saves Interest :

It helps you save interest because interest is applicable only on the amount drawdown, not on the maximum amount which bank or lender has agreed to pay. So, you pay less interest rate.

Lower Repayments :

During the construction period, loan repayments are interest only which means that you only need to pay interest only for the amount drawdown until the construction is complete. Therefore, loan repayments are lower.

Convenient :

Opposed to other loans where borrowers can only borrow money against the value of current land or property, construction loan allows borrowers to borrow money against the value of the property as if it were completed.

Protection :

Payments will not be made to the builder until the builder’s work is inspected and approved by the borrower.

How Construction Loans in Point Cook Work

Construction loans are suitable for any borrower intending to build a new home on a vacant block of land. Here are the steps that you need to follow
Choose the best offer among various construction loan lenders in Point Cook as the interest rate may vary greatly from regular home loans.
Make sure you have gone through the copy of your credit history before applying for a construction loan. A good credit record can increase your chances of getting a construction loan. Also, make sure that you are in a good financial position before applying for a construction loan.

Construction loans take place in 5 stages and these are:

  • Foundation
  • Frame and Brickwork
  • Lock Up
  • Second Fix
  • Completion
  • You will be asked to present an estimation and specification of your construction plan to the lender before the loan process
You can either deposit the money to the lender or you can show your land on which house is to be built. This land will act as a security for the bank or lender.
The payment is distributed to the builder according to progress stages. An inspection will be held after each construction stages to ensure that work is satisfactorily done. Once it is ensured that the work has completed for a specific stage, payment will be made to the builder. This thing protects the lender as well as you, ensuring the work has been done.
You will be required to show an occupancy certificate issued by the local council before the approval of the final payment of the construction loan. Your lender will not provide you fund until you provide them with the occupancy certificate. Occupancy certificates make sure that your property is fit to be in a residential area.
Never forget to ask your builder for a risks insurance policy. This should be done to protect your lender and yourself from any unpredicted damage.

Construction Loan Application Checklist

Personal Identification:

Passport, birth certificate, driving license and a copy of marriage certificate if married.

Income:

Recent salary slips from the employer with the name of the company. In case, you are self-employed, personal and business tax returns of last two years, ATO assessments, and all income details will be required.

Additional Documents

  • Signed building contract between borrower and a credible builder
  • Stamped document of building plans
  • Rent income statements
  • Copy of builder’s insurance policy
  • Centrelink letter confirming family tax benefits
  • Centrelink letter confirming permanent government pension
  • Proof of shared dividends
  • Evidence of any other regular income
  • Proof of ability to make extra repayments

Mortgage Broker in Point Cook

Credit Hub Australia
  • Point Cook, Melbourne VIC
  • Mortgages (Banking & Financial Services)
  • Contract/Temp
  • Add expected salary to your profile for insights
About the role

Join our dynamic team at Credit Hub Australia as a Finance/Mortgage Broker in our conveniently located Point Cook office, close to the freeway and train station, with free parking available.

In this role, you will be responsible for providing personalised mortgage solutions to our valued clients and also managing your colleagues by co-ordinating the allocation of files and general day to day running of the broker team. With a focus on delivering exceptional customer service, you will guide clients through the entire mortgage process, from initial application to final approval.

“Position is for Mortgage broker on commission/contract basis.”

What you'll be doing
  • You will develop and expand network with our help.

  • Sales, cold calling, and networking come naturally to you. You thrive on engaging with prospective clients to understand their unique financial needs and goals.

  • You will act on leads and existing database as provided and generate sales and ongoing relations.

  • Actively participate in team meetings and contribute to the overall success of the business

What we're looking for

  • You are an existing broker with proven experience in Mortgage Broking or lending abilities, or in a similar financial services role looking to take your career further with a successful Mortgage house.

  • In-depth knowledge of the Australian mortgage market, including products, policies, and regulatory requirements.

  • Excellent communication and interpersonal skills, with the ability to build lasting relationships and earn client trust.

  • A strong commitment to delivering outstanding customer service and consistently exceeding client expectations.

  • Self-motivated and capable of working independently, while also thriving in a collaborative team environment.

  • Relevant industry qualifications, such as a Certificate IV in Finance and Mortgage Broking.

  • Ability to manage multiple tasks, stay organized, and work reliably without supervision.

  • A results-driven mindset with a strong sales focus, coupled with exceptional work ethic, time management, and multitasking abilities.

What we offer

At Credit Hub Australia, we are committed to providing our team with a supportive and rewarding work environment. Some of the key benefits of joining our team include:

  • Competitive remuneration and performance-based bonuses
  • Ongoing training and professional development opportunities
  • Flexible work arrangements and a positive work-life balance
About us

Credit Hub Australia is a leading provider of mortgage and finance solutions, with a strong presence in the Point Cook in the Western Suburb of Melbourne and surrounding areas. Our mission is to empower our clients to achieve their financial goals by delivering personalised, expert advice and exceptional customer service. We are a dynamic and growing team, driven by a passion for helping our clients and making a positive impact on our local community. We are with Finsure as an agrregator Group. 

If you’re ready to take the next step in your career as a Mortgage Broker, apply now to join our team at Credit Hub Australia.

Apply Now

Thank You for Contacting Us

Connect with Us

Facebook-f Linkedin Youtube Instagram Tiktok