Home Loans

Building Loan

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Why choose a Building Loan?

Designed for new builds
Features designed specifically to fund the building of your new home.
Funds advanced progressively
As your builder completes pre-agreed construction stages, potentially saving you on interest during the build.
Schedule progress payments
We can help with the scheduling and identifying expenses so payments are made to the builder after each stage.

Guide to Residential Building Loans

With a Bank of Melbourne Building Loan,

you could save on interest.

Make progressive payments, drawing down only the money you need as the construction of your new home is completed.

Tell me more

  • Draw down money as you need it, with loan funds advanced in stages as your builder completes previously agreed construction milestones.
  • You could save on interest, since it is only payable on the amount advanced on the loan.
  • Make Interest Only repayments until the loan is fully drawn down when construction is completed.

Calculators

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If an unexpected event were to happen, which causes loss or damage to your contents, you have the help you need to get back on your feet. Plus save up to 15%.^

The Detail

Credit criteria, fees and charges apply. Based on St.George credit criteria, residential lending is not available for Non-Australian Resident borrowers.
Residential Loan Agreement
General Terms and Conditions.
Loan Accounts
Charges for specific services and accounts.

Before making a decision, please read terms and conditions and ensure you're aware of all fees and charges. You can request a paper copy at a branch.

Request a call back

Our Concierge will call you back at a time that suits you, Monday to Saturday

Call us on

03 8664 0250

Our Concierge is available 8am-10pm
Monday to Friday and 9am-5pm Saturday and Sunday

Face to face

Find your nearest branch or mobile lender.

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The Detail

Credit criteria, fees and charges apply. Terms and conditions available on request.

Before making a decision, it’s best to read the terms and conditions:

Residential Loan Agreement – General Terms and Conditions (PDF 1MB)

Loan Accounts – Charges for specific services and accounts (PDF 65KB)

^Quote and buy online and save 15% off your annual premium for the first year with promotional code COVER.

Please read these documents and keep a copy. You can request a paper copy at a branch.

The information on our website is prepared without knowing your personal financial circumstances. Before you act on this, please consider if it’s right for you. If you need help, call 13 22 66.