Bring your new build to life with our flexible approach to construction loans
Thinking about completing major renovations (i.e. structural changes), rebuilding, or building a new house? Our construction loan options are designed for real life. If you’re worried that your work history, credit history, or debts are getting in the way of your ability to build a home, talk to us. We understand the ups and downs of real life and we’ll work with you to see how we might find a way forward.
Why choose a Pepper Money construction loan?
We're fast: Construction loan approval within 2 business days
(if eligible)
We're flexible: Multiple loan options, if we can help, we will
We're accessible: We’re here to talk through your situation
Ready to take the next step?
- Borrow up to 95% LVR1
- Max loan size up to $1.5M
- Full and Alt Doc options available
- Redraw/offset sub-account available post construction at no extra cost
- Owner-occupied and Investment purpose available
- Additional lump payments available
- 10-30 year loan terms available
- Paid defaults up to $500 may be considered
- ABNs from 12-months
What others are asking about construction loans
A construction loan is a mortgage given to a borrower who wants to buy land and build a property, or homeowners who want to do major renovations (i.e. structural changes).
Yes, a construction loan can be used for major renovations (i.e. structural changes).
During construction, you’ll make interest only repayments on the loan (payable only on the amount of the loan that has been drawn down). This will change to principal and interest repayments on completion of the build. When construction is finished, a 100% interest offset sub-account, redraw and Visa debit card+ facilities are also available, at no extra cost.
Yes, we offer refinancing options for construction loans. If you’d like to chat about your options and see if we can help, simply get in touch online and we’ll aim to get back to you within one business day.
There are options available. Non-bank lending options, like ours at Pepper Money, mean that it may still be possible to apply for a construction loan in Australia with a less-than-perfect credit score. We take a real life approach and look beyond your credit score to understand your situation and see what we can do to help.
Ready to talk?
If you’re looking for a construction loan, we’d love to help – just leave a message for our team below.
The important legal bits
Information is correct as of 23 October 2024 and subject to change at any time.
Information provided is factual information only, and is not intended to imply any recommendation about any financial product(s) or constitute financial or tax advice. It is recommended that independent financial, legal and tax advice is obtained.
All applications are subject to credit assessment, eligibility criteria and lending limits. Terms, conditions, fees and charges apply.
1 Max LVR differs across loan options.
+ Visa Debit card is issued by Indue Limited ABN 97 087 822 464 and distributed by Pepper Finance Corporation Limited ACN 094 317 647 and/or through Pepper Money accredited mortgage brokers. Refer to the Conditions of Use and Target Market Determination (TMD).
©Pepper Money Limited ABN 55 094 317 665; AFSL and Australian Credit Licence 286655 (“Pepper”) is the servicer of loans provided by Pepper Finance Corporation ABN 51 094 317 647.
