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Building a new home is one of the biggest decisions you will ever make, and having the right construction finance in place from the start makes all the difference. At Roar Financial, we help clients across Tasmania and Australia access Construction Loan options from banks and lenders across Australia, so you can focus on bringing your vision to life rather than worrying about the paperwork.
A construction loan works differently from a standard home loan. Rather than receiving the full loan amount upfront, funds are released in stages through a progressive drawdown process that aligns with your builder's progress payment schedule. This means you only charge interest on the amount drawn down at each stage, which can help keep your repayments lower while your home is being built. These interest-only repayment options during the construction phase are one of the key reasons many people choose a dedicated building loan over a standard mortgage.
Whether you are looking at a land and construction package, a house and land package, a custom home finance solution, or even a project home loan, Roar Financial can help you find a loan structure that suits your situation. We work with a wide panel of lenders to match you with options that fit your build type, your budget, and your timeline. Our team takes the time to understand what you are building and why, so the advice you receive is relevant to your circumstances.
Construction funding is released in instalments that correspond to key stages of the build. Each stage typically triggers a progress inspection before the next draw is made, giving both you and the lender confidence that the work is progressing as planned. Common stages include the slab, frame, lock-up, fixing, and practical completion. Your lender will usually require a fixed price building contract from a registered builder before approving your construction loan application, which helps protect everyone involved.
Roar Financial also assists clients exploring owner builder finance, off the plan finance, spec home finance, and house renovation loan options. Whether you are building from scratch on suitable land or looking at a renovation Finance and Mortgage Broker solution to transform an existing property, we can help you understand what construction loan interest rate options and structures may be available to you. We also help clients understand the impact of a Progressive Drawing Fee and how a cost plus contract differs from fixed price contracts when it comes to lender requirements.
One important thing to be aware of is that most construction loans require you to commence building within a set period from the Disclosure Date. Your lender will also want to see council approval and a development application before funds are released. Roar Financial will help you understand these requirements so you are well prepared before your construction loan application is submitted.
If you are ready to build your new home, book an appointment with the team at Roar Financial today. We know our clients by name, not by file number, and we are committed to being with you every step of the way.
Talk to our team Today
Have questions about construction finance or want to explore your options? Reach out to the team at Roar Financial and we will take the time to understand your build and your goals.
Step 1: Get in Touch
The first step is simple - reach out to us. Whether you call, email, or fill out our online enquiry form, we make it easy to start the conversation. There are no complicated forms or confusing jargon, just a friendly chat about what you are looking to achieve.
Step 2: Initial Consultation
We sit down with you - in person, over the phone, or via video call - to understand your goals, your financial situation, and your timeline. This is your chance to ask questions and for us to get a clear picture of what you need. We listen first so we can find the right solution for you.
Step 3: Assessment and Fact Find
We gather the key details about your income, expenses, assets, and liabilities. This helps us understand your borrowing capacity and identify the loan or finance product that best suits your circumstances. Everything is handled with care and confidentiality.
Step 4: Research and Recommendation
Using our access to a wide panel of lenders, we do the legwork for you. We compare products, rates, and features across multiple lenders to find options that genuinely match your needs. We then present our recommendation clearly, so you can make an informed decision with confidence.
Step 5: Application Preparation
Once you are happy with the recommended solution, we prepare and package your application. We guide you through the documents required and make sure everything is accurate and complete before it is submitted. A well-prepared application gives you the best chance of a smooth approval.
Step 6: Lodgement and Approval
We lodge your application with the lender and manage the process from start to finish. We stay in regular contact with the lender on your behalf and keep you updated every step of the way. If the lender needs anything further, we handle it quickly so there are no unnecessary delays.
Step 7: Settlement and Beyond
Once your loan is approved and settled, our job is not done. We check in to make sure everything has gone smoothly and that you are happy. As your circumstances change over time, we are here to review your finance and make sure it continues to work hard for you.
How we can help
Construction loans are more involved than standard home loans, and having a knowledgeable broker in your corner can make a real difference. At Roar Financial, we understand the nuances of new home construction finance, from coordinating with your builder around the construction draw schedule to making sure your progress payments align with what your lender expects.
We help clients with a wide range of building scenarios, including land and build loans, home improvement loans, and custom design builds. Whether you are working with a volume builder on a house and land package or commissioning a fully custom home, we will work to find construction loan options that suit your project. We also assist clients who need to pay sub-contractors, work with plumbers and electricians directly, or manage council plans as part of an owner builder arrangement.
Roar Financial is proud to serve clients in Tasmania and across Australia. We take a personal approach to every construction loan conversation, making sure you feel informed and supported throughout the process. Explore our investment loans page if you are also considering building as part of a broader property investment strategy.
What Our Clients Say
Rodney helped us with our home loan and did a wonderful job of reassuring us and helping us navigate what can be a daunting experience, especially when buying our first home. Rod did a great job of finding a great lender and achieving an excellent outcome for our complex situation. We’re very grateful for all his help and would highly recommend him to anyone looking for a mortgage broker.
Sam
Frequently Asked Questions
Refinancing means replacing your existing home loan with a new one, either with your current lender or a different one. People refinance for a variety of reasons, including wanting a different loan structure, accessing equity in their property, or consolidating debts. Whether refinancing makes sense for your situation depends on a number of factors, including your current loan terms, any exit fees, and your financial goals. Roar Financial can help you review your current loan and compare it against other options available through our lender panel. We will walk you through the potential benefits and costs so you can make an informed decision that suits your circumstances.
Roar Financial can assist with a wide range of lending needs. This includes home loans for owner-occupiers, investment property loans, refinancing existing loans, construction loans, and loans for self-employed borrowers. We also assist with commercial finance and asset finance for business owners who need funding for equipment or vehicles. Every situation is different, and we take the time to understand what you are trying to achieve before exploring which options may be available to you. If you are unsure whether your lending need falls within what we can help with, simply reach out and we will have an honest conversation about how we can assist.
To get the ball rolling, it helps to have some basic information ready. This typically includes details about your income, such as payslips or tax returns if you are self-employed, along with information about your expenses, existing debts, and any assets you hold. If you are purchasing a property, details about the property and the purchase price are also useful. Do not worry if you do not have everything ready straight away. At Roar Financial, we will guide you through what is needed and help you gather the right documents at the right time. The important thing is to start the conversation so we can understand your situation.
The timeline can vary depending on the type of loan, the lender involved, and how quickly documents can be gathered and verified. In general, once an application is submitted with all the required information, lenders may take anywhere from a few days to a few weeks to assess and approve a loan. Roar Financial works to keep things moving by staying on top of your application and following up with lenders on your behalf. We will keep you updated throughout the process so you always know where things stand. Delays can sometimes happen, but having a broker managing the process means there is someone actively working to resolve any issues that come up.
When you go directly to a bank, you only see what that one lender has to offer. Roar Financial works with a panel of lenders, which means we can look across multiple options to find one that suits your circumstances. We take the time to understand your financial situation and goals before recommending anything. Our job is to represent you, not the lender. We also help you prepare your application properly, which can make the process smoother and less confusing. For clients in Tasmania and across Australia, having a local broker who genuinely understands your needs can make a real difference to your experience.
In most cases, mortgage brokers in Australia are paid a commission by the lender when a loan is settled. This means that in many situations, you do not pay us directly for our broking services. The commission structure is regulated under Australian law, and brokers are required to act in your best interests under the Best Interests Duty. We are always transparent about how we are paid, and we will explain this clearly before you proceed with anything. If there are any fees that apply to your specific situation, we will let you know upfront so there are no surprises along the way.
Having a less-than-perfect credit history does not automatically mean you cannot access finance. There are lenders on our panel who specialise in working with borrowers who have had credit challenges in the past, such as defaults or missed payments. Roar Financial will take the time to understand your full situation before exploring which lenders and products may be suitable. We will always be honest with you about your options and what to expect. We do not make promises about outcomes, but we do commit to doing the work to find out what is possible for you and presenting your application in the strongest way we can.
A mortgage broker acts as the go-between for you and a range of lenders. Rather than you having to approach each bank or lender on your own, a broker like Roar Financial does the legwork on your behalf. We assess your situation, help you understand your borrowing options, and present loan products from our panel of lenders that may suit your needs and goals. We handle the paperwork, liaise with lenders, and keep you informed throughout the process. Whether you are buying your first home, refinancing, or investing in property, having a broker in your corner means you have someone working for you, not for the bank.
Getting in touch with Roar Financial is straightforward. You can reach us by phone, email, or through our website to book a consultation at a time that suits you. We are happy to meet in person if you are based in Tasmania, or connect with you remotely if you are elsewhere in Australia. There is no obligation involved in having an initial conversation with us. We simply take the time to listen to your situation, answer your questions, and explain how we may be able to help. The sooner you reach out, the sooner we can start working on finding the right lending solution for your needs.
Not at all. While Roar Financial is proudly based in Tasmania, we work with clients right across Australia. Thanks to phone, email, and video calls, we can have meaningful conversations with you no matter where you are located. We understand that different parts of Australia have different property markets and lending considerations, and we take the time to understand your local context. Whether you are in Hobart, Melbourne, Brisbane, or anywhere in between, Roar Financial is set up to support you through the process of finding a loan that works for your situation.
Ready to Take the First Step?
Building a new home is a big commitment, and you deserve a broker who is genuinely invested in your outcome. Book an appointment with Roar Financial and let us help you find the right construction loan for your build.
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Stay informed with the latest insights from Roar Financial. Our articles cover construction finance, home loans, and practical tips to help you make confident decisions about your build and your finances.
