- No, you cannot redraw during the construction period. If you choose a variable rate loan you will have a redraw facility available at the end of your construction period.
- Your loan will be disbursed as the funds are required, so you'll only pay interest on the portion of the construction loan you have drawn down.
You can choose from a range options including:
- Home Loan Package
- Standard Variable
- Basic Variable
The construction period of your loan will be interest only. You have the option of selecting whether you will have a further interest only period at the end of your construction period, or if the loan reverts to principal and interest repayments.
- The construction period for your loan is up to 12 months from the date of settlement.