Our building loan option
Why choose our building option?
With our handy building option,
you could save on interest.
With progress payments, you only draw down the money you need as stages of construction are completed. Even better, there’s no fee to use this option.
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- Funds only advanced in stages as your Contract Builder completes pre-agreed construction milestones.
- You save on interest during the construction process period – as you only pay interest on the amount drawn.
- Make Interest Only repayments until construction’s completed and your loan’s fully drawn down.
Conditions, credit criteria, fees and charges apply. Based on Bank of Melbourne’s credit criteria, residential lending is not available for Non-Australian resident borrowers. Interest rates subject to change. Before making a decision, it’s best to read the terms and conditions.
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.