House and land building can be an amazing and complex process to go through. We have seen some beautiful homes, some quite breathtaking.
Homebuilder was a great success. Some clients were not able to access the grants due to complicated loan structures (according to the Government) but the bulk of applicants were able to access this unique grant which was available to both first home owners and previous home owners.
There has been some issues though. Builders may be taking twice as long to complete your home due to the number of projects, and you may find yourself in a situation where you are faced with variation cost increases. These variations may be caused by the cost of materials, the cost or labour or extended delays due to unreliable supply of materials or bad weather such as flooding.
So what do you do when you have these variation costs? Some borrowers can’t change their fixed construction loan. We have one or two lenders who will break the construction loan and finance the variations. Many will not though.
So if you find yourself in this position, please give us a call on 0403 211 361 and we may be able to find a solution for you
