03 9893 3665 Building or Renovating
Your key asset when building or renovating
At BLVD Finance, our brokers have extensive experience working with some of Melbourne and Australia’s top builders, mastering the construction finance process from start to finish. Whether you’re embarking on your first build or are a seasoned developer, we will find the right loan solution and manage the entire finance process, allowing you to focus on your project.
We make construction finance simple
Dealing with construction contracts, building invoices, valuations, and payment deadlines can be overwhelming. At BLVD Finance, we guide you through every step of the construction process, ensuring all your bases are covered and everything runs smoothly.
Maximise cashflow and save money whilst you build
Cash flow is critical when building. At BLVD Finance, we offer a wide range of specialised loans for building and renovating. Whether you’re completing a small renovation or undertaking a complete home build, we ensure you have the right home loan and sufficient funds to complete your project efficiently.
BLVD BENEFITS
Why people choose us for their construction loans
the blvd experience
What Our Clients Say:
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Anil KhannaDaniel and his team at BLVD were nothing short of wonderful in helping us secure our home in a short amount of time. The collaborative effort, prompt service and follow up made securing our loan and easier than expected. Thank you BLVD team.Trustindex verifies that the original source of the review is Google.
Ricky ZwagermanHad Daniel help my wife and I on multiple occasions now. Has always been nothing but helpful and always very gives a very quick response. Highly recommend for all of your mortgage broker needsTrustindex verifies that the original source of the review is Google.
David HildrethGreat experience in helping me buy my first home. The team are very proactive in responding and amazing at providing information to make the process stress free and efficient.Trustindex verifies that the original source of the review is Google.
David BendleDaniel and his team delivered exactly what they promise on their website - excellent communication and customer service, fast turnaround times. We wouldn't hesitate to use BLVD Finance again and highly recommend them.Trustindex verifies that the original source of the review is Google.
Dan ViciusDaniel and Hayley of BLVD have been fantastic. We were actually a little hesitant of using a mortgage broker after the last one was an absolute nightmare..... Extremely professional, transparent and walked us through step by step of the refinancing process. It is a refreshing experience and we have now found a broker we can rely on for our future finance needs. Well done and thankyou Daniel and Hayley. We appreciate you. Dan & Karen Melton, Vic.Trustindex verifies that the original source of the review is Google.
Luke HudsonWe had a great experience with Daniel and Hayley in helping us achieve our financial goals. They provided responsive communication throughout the whole process and and I’d recommend their services to anyone looking for a mortgage or financial broker that provide great advice and are able to deliver.Trustindex verifies that the original source of the review is Google.
Darraji RifaatFantastic opportunity Easygoing and really recommend it for other people Thank you so muchTrustindex verifies that the original source of the review is Google.
J HopzDan and Hayley were wonderful! They went above and beyond to help out Communication was great. Very satisfied with everything they’ve doneTrustindex verifies that the original source of the review is Google.
Felix TDaniel and Hayley were amazing to deal with. They were on the ball and helped us along the way to finance the property purchase we wanted. Definitely recommend them if you're looking for a mortgage broker in Melbourne!!Trustindex verifies that the original source of the review is Google.
Christopher TancikThank you in your professional approach and for helping us make the right choice in locking in our new mortgage. Always a pleasure to deal with.
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Helpful FAQs
A building and construction loan is a specialised type of home loan designed for people who are building a new home or undertaking significant renovations. Unlike a standard home loan, a construction loan releases funds in stages as the construction progresses, ensuring that the builders are paid throughout the process. This type of loan often requires detailed plans and a fixed-price building contract before approval.
A construction loan works by providing funds to cover the cost of building or renovating a property in stages, known as progress payments. These stages typically include land purchase (if applicable), slab down or base stage, frame stage, lockup stage, fixing stage, and completion. Interest is only charged on the funds drawn down, which can help manage cash flow during the construction period. Once construction is complete, the loan usually transitions to a standard home loan.
To qualify for a construction loan, you need a fixed-price building contract, council-approved plans, and a detailed construction timeline. Lenders will also require a deposit, typically around 20%, and proof of your financial stability, including income verification and a good credit history. Additionally, an independent valuer may need to assess the property to determine the expected value upon completion.
Costs associated with construction loans include interest charges on the drawn-down amounts, which vary as the construction progresses. Other costs can include lender’s mortgage insurance if your deposit is less than 20%, application fees, valuation fees, and potentially higher interest rates compared to standard home loans. You should also consider ongoing costs such as property insurance and council rates, as well as potential cost overruns during the building process.
During the construction phase, you typically only pay interest on the funds that have been drawn down. This means your repayments will start lower and increase as more funds are released to your builder. Once construction is complete and the loan transitions to a standard home loan, your repayments will include both principal and interest, based on the total amount borrowed. It’s essential to budget for these changes in repayments and plan accordingly to avoid financial strain.
