Construction Loans Australia
The great Australian dream has always revolved around owning your own home. But for a growing number of Aussies, this dream involves not just buying but actually building their dream home.
According to the latest statistics from PropTrack, Australians built approximately 170,000 new homes over the year leading up to March 2023.
With a range of government grants now available to Queensland residents willing to build new homes, you may be wondering:
What is the best way to finance the construction of a new home?
How do construction loans work?
Are construction home loans complicated?
What kind of documentation will you need to apply for construction finance?
Will the builder invoice the lender directly?
Are construction payments made upfront or after the work is completed?
Do all lenders currently offer construction loans in Australia?
To help you get a better understanding of how these specialised loans work, we’ve put together a comprehensive guide to construction financing for Brisbane residents.
What is Construction Loans?
First of all, what are construction loans? Simply put, it’s a tailored lending solution for borrowers who want to buy land and build a new home. It can also be used to buy and substantially renovate an existing house.
The key difference between standard home loans and construction loans is in the way the loan is structured. With a typical mortgage, you borrow the total amount of the loan, in full, on the day of property settlement. From that date, you are then paying interest on the total balance of the loan.
In contrast, most construction finance loans will be structured with progressive drawdowns. This means that the lender will release the money in instalments (which have been agreed on in advance) throughout the construction project. This ensures that you aren’t paying interest on the entire loan until your new home is completed.
Is Construction Financing More Complicated Than a
Typical Home Loan?
Construction financing can be more complicated than buying an existing house with a typical home loan. Why? Because when you’re building a new house, there are a lot of different parties, or stakeholders, involved in the process.
In a construction project, stakeholders are defined as individuals or groups who have an interest in the project and can influence or be influenced by its outcomes. This includes:
Builders
These are the primary contractors who are responsible for completing the construction work according to the plans. They will handle the bulk of the physical construction tasks, including ordering materials.
Contractors
These are licenced professionals hired by the builders to handle specific aspects of the project, such as electrical, plumbing, HVAC systems, roofing, etc. They ensure the quality and functionality of these systems within the house.
Building Surveyors
They play a crucial role in ensuring the construction project adheres to building codes, regulations and safety standards. They issue the building permit and then periodically inspect the site to ensure permit compliance.
Local Council
The council may be involved in the planning approval process. They review the proposed construction plans, assess compliance with zoning laws and environmental regulations and grant the necessary permits.
Lenders
The lenders provide the necessary funds to finance the construction project. They have a vested interest in ensuring that the project progresses smoothly and according to the agreed-upon terms to minimise financial risks.
Other Qualified Experts
Depending on the complexity of the project and legal requirements, other professionals may provide specialised services throughout the project. This might include solicitors, accountants, architects and engineers.
Each of these parties may have a significant role to play in the construction of a new home. But with so many stakeholders, it’s easy for complications to arise. To prevent issues from happening once the project is already underway, many lenders will want to review additional documentation from all relevant stakeholders before they’re willing to approve a home construction loan.
Can I Get A Regular Home Loan Instead of Construction Financing?
Since applying for a construction finance loan is more complicated than applying for a traditional mortgage, you may be wondering if it’s worth the effort.
Can you just get a regular home loan instead of construction financing? The answer is yes, but only in certain scenarios.
STANDARD HOME LOAN
One situation where you may be able to use a traditional mortgage to fund a construction project is if you already own your own home and you have accumulated sufficient equity in the property.
For example, if you only owe $200,000 on your current property, but it has been valued at $600,000, then you have $400,000 in equity. In this scenario, you may be able to refinance your existing home loan to pay for the construction of your new home. Keep in mind though, that you can’t use your not-yet-built house as security for a home loan.
Another situation that might allow for a traditional home loan would be if you already own the block of land and the land value on its own has sufficient equity to cover the cost of the construction project. In this scenario, you could potentially borrow against the land value instead of applying for a construction loan.
The problem with financing a new-build home with a typical mortgage is that you are being charged interest on the full balance of the loan from the very first day. This can be a substantial added cost if you’re already paying off a mortgage or if you’re planning on renting until the new home is built.
CONSTRUCTION HOME LOANS
In the example scenario where you already own a property with sufficient equity, you could refinance your existing home loan to pay for the construction of your new home.
However, if you were to finance the construction of your new home with a standard mortgage, you would be paying interest on the entire loan amount from the start, resulting in higher interest charges.
With a construction loan:
The lender will typically make progress payments to the builder as each stage of the construction is completed.
You are only charged interest on the amount of the loan that has been drawn down to that point in time.
You will only pay interest on the funds you are currently using, rather than the end full loan amount.
You will have more flexible repayment options compared to standard home loans. For example, you may choose to make interest-only repayments during the construction period, which can help to reduce your repayments while the new home is being built.
What Paperwork Will You Need to Apply for A
Construction Loan?
So, you’ve decided that a construction loan may be the best option for financing your new home. The next question is: What paperwork will you need before you can apply for construction financing?
When you’re applying for a construction loan, you’ll (first of all) need the standard documents required for a typical home loan application. These include things like proof of income, photo ID and evidence of savings.
Additionally, you’ll also be asked to supply:
These plans don’t need to be approved by Council or a building surveyor, but they should be detailed enough that a valuer can determine the layout, size and design of your proposed new home.
The specifications should include what type of materials are going to be used to build the various parts of the house. For example, will you be using a steel or timber frame? A Colourbond or tiled roof?
The specifications should also include a detailed list of what finishes you’ve chosen for the interior (e.g., tiles, appliances, bathroom fixtures, floor coverings, etc.).
The project specifications help a lender determine how much the property is likely to be worth once it has been completed. This helps to reassure the lender that you won’t be overcapitalising on the project.
When it comes to construction loans Australia has state-specific requirements. Under Queensland law, you don’t have to provide a signed contract (so you aren’t being asked to commit to a project before you have finance approval). However, the contract will need to show the overall cost of the project, the various stages of construction, any exclusions and the estimated build time.
Your builder will be able to provide you with a copy of the contract once you’re ready to apply for finance.
A standard building contract often won’t allow for a range of optional features. This could include solar panels, extensive landscaping, the installation of a pool or the construction of an outdoor entertaining area.
If you want these additions to be covered by your construction finance, then you’ll need to include detailed quotes for these additional works as part of your application.
How Do Construction Loans Work?
The main difference between construction finance and a traditional home loan is how the loan is structured. With a typical mortgage, the lender releases the entire value of the loan on the day of settlement. The borrower is then charged interest on the full value of the loan from Day 1.
In contrast, a construction loan is structured with progressive drawdowns. These drawdowns are used to make progress payments to the builder when certain predetermined milestones are achieved.
The progress payment schedule will be included in your building contract and the costs associated with each stage are typically calculated based on the percentage of works completed. For example, a certain percentage of the loan will be released when the foundation is completed, followed by an additional percentage once the frame is finished.
The 5 Stages of Building A New House
While progress payment schedules may vary between builders, there are typically five key stages when it comes to building a new house in Australia. These include:
Base
This progress payment will be invoiced when the initial foundation for your home has been completed. It may include some excavation and levelling works, footings, pre-plumbing pipework and the pouring of a concrete slab.
Frame
The next stage of construction involves putting up the frame for your new home. The frame stage will usually include framing for the external and internal walls, the installation of roof trusses, necessary bracing and the framing out of door and window cavities.
Lockup
Once the frame is finished the builders will start closing up the building (getting it ready to ‘lock up’). This will include finishing the external walls, installing the roof cladding and fitting doors and windows into the frame.
Once the building is secured (so no one can access it without a key), then the lockup stage is complete.
Fixing
The fixing stage refers to the internal carpentry (such as fitting door jambs, skirting boards and architraves) plus the installation of fixtures and finishes.
This is the stage where you’ll see plastering, painting, cabinetry, tiling, carpet laying and other interior design elements being completed. The fixing stage will also involve licensed trades such as plumbers and electricians.
Completion
The completion payment will only be invoiced once the house is completely finished.
The final stage covers any finishing touch-ups, punch list items, quality control requests and the final cleaning of the building.
How Is the Construction Progress Payment Schedule Calculated?
Although building progress payment schedules can be customised to suit the scope of work, most Queensland builders will use the schedule set out in the HIA New Homes Construction Contract. This contract recommends the following progress payment schedule for new houses being built in Queensland:
Initial Deposit: 5% of the contract total.
Base Stage Complete: 15% of the contract total.
Frame Stage Complete: 20% of the contract total.
Lockup Stage Complete: 25% of the contract total.
Fixing Stage Complete: 20% of the contract total.
Project Completed: Remaining 15% of the contract total.
Builders may sometimes want to change the percentages of progress payments so that the bulk of the cost is paid earlier in the project. This reduces the risk for the builder but increases the risk for the lender (if something goes wrong with the project part-way through). Because of this, some lenders may object if builders try to make substantial changes to the HIA-recommended progress payment schedule.
Once the construction finance has been approved, the builder will need to provide the lender with a Council-approved building plan, a copy of the project insurance policy and a finalised drawdown schedule.
How Are Payments Made on Construction Home Loans?
As your builder completes each stage of the construction project, they will issue you with a progress payment invoice. This invoice should be forwarded to your lender with a request for a drawdown on the construction loan. Your lender can then arrange for each progress payment to be transferred directly to the builder (typically within 5 business days of the request being received).
However, some lenders will want to verify that the works have been completed to the satisfaction of an independent valuer before they’re willing to make the payment. This acts as a protection for you, as it ensures you’re not paying for work that hasn’t yet been completed. But it can also create minor delays in the project.
To minimise potential delays, make sure you clearly understand what your lender requires before they can release a progress payment. Some lenders may just need a signed copy of the invoice, while others may also want you to submit a form along with the invoice.
Being ready to submit all the necessary paperwork as soon as the builder issues an invoice will help to keep the project moving on schedule.
How is Interest Calculated on Construction Loans in Australia?
With interest-only construction loans, your lender will only charge you interest on the progress payments that have already been paid.
For example, the total cost of your construction loan might be $350,000. After the initial deposit is released, you’ll only be charged interest on 5% of the loan total (if using the HIA-recommended progress payment schedule). This works out to be $17,500.
After the base stage is completed, you’d be charged interest on $70,000, or 20% of the total loan (5% deposit + 15% base stage progress payment).
With this kind of loan structure, the amount of interest charged will gradually increase with time. However, it can significantly reduce the amount of interest that you will have to pay over the life of the loan.
Once the construction is completed you may have the option to continue with an interest-only loan for a period of time. But more likely, your construction finance loan will change to a principal and interest repayment structure (where you’ll start paying back the balance of the money borrowed, not just the interest). At this point, your construction loan would revert to the typical structure used on standard mortgages.
It’s a good idea to be familiar with your loan structure (and any scheduled changes) from the very beginning so you don’t end up with any unexpected surprises once you’re ready to move into your brand-new home.
An experienced construction finance mortgage broker will be able to talk you through the various pros and cons of different loan structures and answer any lingering questions that you may have.
Do All Major Lenders Offer Construction Loans?
Construction loans in Australia are available from most of the big banks. However, just like with any loan, it’s important to carefully consider all of the relevant details (including fees, charges, interest rates, conditions and loan features) before making a final decision.
Currently, not all of the smaller lenders are offering construction loans, likely because they come with a higher level of risk and are more labour-intensive for the lender to process and manage.
To minimise potential delays, make sure you clearly understand what your lender requires before they can release a progress payment. Some lenders may just need a signed copy of the invoice, while others may also want you to submit a form along with the invoice.
A construction finance mortgage broker will be able to compare a range of lenders and finance products to determine which construction loan is going to best suit your personal situation.
Tips for Getting Approved for Construction Loans Australia
Lenders will scrutinise your credit score to assess your financial reliability. A good credit score increases your chances of loan approval.
If your score is low, work on improving it by paying off debts and sorting out any errors on your credit report. A higher credit score signals to lenders that you’re a low-risk borrower, enhancing your chances of securing a competitive construction loan.
A comprehensive building contract is crucial for demonstrating to lenders that you have a well-thought-out plan for your construction project.
Having a contract that includes a fixed price, a clear timeline and other relevant details shows the lender that you’re committed to the project and that you’ve done your homework.
It also reassures the lender that you’re working with reputable builders and have a solid plan in place for completing the project.
Getting pre-approval for your construction loan before you finalise all your plans can help streamline the application process.
It provides a clear picture of your borrowing capacity, which will help you to make informed decisions about your project’s scope and budget.
Pre-approval also gives you added leverage when negotiating with builders and contractors, as you know exactly how much you can afford to spend.
Accurate cost estimates are essential for ensuring you have enough funds to complete the construction project. Make sure you include all associated costs such as council fees, permits and professional fees in your estimates.
This transparency not only helps you budget effectively but also reassures lenders that you have a realistic understanding of the project’s financial requirements, reducing the risk of funding delays.
Selecting a reputable builder with a proven track record is key to gaining lenders’ confidence. A builder’s experience and past successes demonstrate their ability to complete projects on time and within budget.
Lenders are more likely to approve your loan when they see that you’re working with a trusted professional who can deliver quality results, minimising the risks associated with the construction project.
Consulting a mortgage broker or financial advisor can provide valuable insights and guidance throughout the construction financing process.
A broker with experience in construction finance can help you navigate the complexities of construction loans so that you fully understand all your options. They can also help you to prepare your application in a way that will optimise your chances of approval. Their expertise ensures that you’re well-prepared and ideally positioned to secure the financing you need for your construction project.
How to Apply for Construction Home Loans in Brisbane
If you’re interested in applying for a construction loan in Brisbane, then start by talking to a Brisbane mortgage broker. A mortgage broker can explain what options you have available to you when it comes to financing the construction of your new home. They can also advise which loan products will offer the best solution.
Additionally, when you talk to a construction finance broker, you’re covered by ‘Best Interests Duty’. This legislation (which doesn’t apply to banks) ensures that a broker is always working in your best interests, giving you total peace of mind that you can trust their advice.
If you’ve been considering building a home with a construction loan, but don’t know where to start, North Brisbane Home Loans experts can help. Our brokers have extensive experience in construction financing and are familiar with the local market here in Brisbane.
Why Choose North Brisbane Home Loans for Construction Financing?
When you partner with North Brisbane Home Loans, you’re gaining access to a great range of benefits that can save you time, money and a whole lot of stress.
5 Star Review Rating
Being a top-rated finance broker in Brisbane, we put your needs first and genuinely want to help you achieve your property ownership dreams with the best home loan products.
We have hundreds of verified reviews from happy customers and a 5-star Google review rating.
Experienced Mortgage Brokers
With more than 100 years of combined experience in the finance industry, our expert team of brokers can confidently offer you the best advice.
This means we can accurately compare finance products and recommend the ideal loan to suit your needs.
We Work For You – Not The Banks
We don’t charge any fees for our construction loan services, since our commission comes from whichever lender you decide to choose.
This means our brokers are by your side, every step of the way, to ensure you end up with the right loan.
Exclusive Partner Network
Not only do we provide you with the best advice on your construction loan needs, but we’ll also introduce you to our network of trusted partners offering discounted rates.
Save time and money searching for reliable conveyancers, solicitors and more.
Personalised Service
Our team is dedicated to providing personalised service tailored to your specific needs and circumstances.
Whether you’re a first-time home builder or an experienced property developer, we take the time to understand your goals and offer customised solutions.
Streamlined Process
We pride ourselves on offering a streamlined and hassle-free process for obtaining construction financing.
Our experienced mortgage brokers guide you through every step of the loan application and approval process, minimising stress and preventing any avoidable delays.
FAQs on Construction Financing
How do I qualify for a home construction loan?
You’ll need to have a good credit rating and sufficient income in order to qualify for a construction loan.
You’ll also need to supply a range of specific documentation, including project plans and specifications, a proposed building contract and quotes for any additional works that you want to include (such as a swimming pool or the installation of solar panels).
The lender will have assessors/valuers review your plans to check that the proposed works are feasible and won’t overcapitalise on your property’s value.
What types of construction loans are available in Australia?
The most common types of home loans in Australia are:
- Construction-only loans: Where funds are released in stages as construction progresses.
- Construction-to-permanent loans: These automatically convert to a traditional mortgage after construction is complete.
- Owner-builder loans: For those building their own homes without a licensed builder.
- Renovation loans: For refurbishing or extending existing properties.
- Land and construction loans: Finance for both land purchase and construction costs. These loans offer flexibility to suit various construction needs and borrower situations.
To find out what kind of loan would best suit your needs, contact an experienced construction finance broker.
What is a variable rate construction loan?
A variable rate construction loan has a variable interest rate, which means that the interest rate can change over time. This type of loan can offer more flexibility but may be subject to interest rate fluctuations.
What is a fixed rate construction loan?
A fixed rate construction loan has a fixed interest rate, which means that the interest rate remains the same for a set period. This type of loan can offer more certainty (since you know your repayments won’t change) but may be less flexible than a variable rate loan.
How long does it take to get approved for construction financing in Australia?
The timeframe for approval can vary depending on the lender and the complexity of the project. It is important to allow sufficient time for the application process.
What is a progress payment in construction financing?
A progress payment is a payment made to the builder by the lender at certain milestones during the construction process, such as on completion of the foundation or after the house frame is finished.
Can I use the equity in my existing home to fund a new construction project?
Yes, if you have sufficient equity in your existing home, you may be able to use this to fund a new construction project. This can be done through a refinance or by using the equity as security for a construction loan.
Can I get construction financing for a renovation project?
Yes, you can get construction financing for a renovation project. Renovation construction financing can be used to fund substantial home renovations, such as adding an extension or completely revamping the interior of the home.
This type of financing typically requires a detailed building contract and a fixed-price quote from a licensed builder. The lender may also require you to provide plans, permits and other documentation to assess the feasibility and value of the renovation project.
Construction financing may not be suited to smaller renovation projects such as simple cosmetic upgrades or a basic kitchen renovation. In this case, you may be better off obtaining a personal loan or enquiring about a top-up (cash-out) to your existing home loan.
Do I need to have a builder lined up before applying for construction financing?
Yes, most lenders will require you to have a builder lined up and a detailed building contract in place before approving a construction loan. The contract doesn’t need to be signed, but it will need to include all relevant details, including the progress payment schedule. You can get the build loan pre-approved without a building contract to hand, so at least you know that you can move forward however.
Can I change the plans during the construction process?
Changes to the plans during the construction process may be possible, but typically require approval from the lender and may result in additional fees. Any changes to the plans must also comply with local building regulations and may require additional permits or inspections.
It’s important to communicate any proposed changes with your builder and lender as early as possible to minimise delays and costs. Some lenders may also require you to obtain written consent from your lender before making any changes to the plans and may charge a fee for reviewing and approving the changes.
Before making any changes to the plans, consult with your builder and lender to understand the implications for the construction timeline, budget and financing.
How is the progress of the construction project monitored?
The progress of the construction project is typically monitored by the lender or an independent valuer. They may want to inspect the property at each stage of construction before releasing funds. This helps to ensure quality control throughout the project.
What happens if the project takes longer than expected?
If the project takes longer than expected, you may need to apply for an extension of the loan or you may be required to make additional payments to cover the extra interest charges.
Can I use a construction loan to build a duplex or multi-unit development?
Yes, a construction loan can be used to build a duplex or multi-unit development. However, these kinds of projects may be subject to additional requirements and fees.
What happens if I sell the property before the construction loan is paid off?
If you sell the property before the construction loan is paid off, the loan will need to be repaid in full at the time of sale.
What happens if the builder goes bankrupt during the construction process?
If a builder goes bankrupt during construction, it can cause delays and financial complications. The lender may require you to find a new builder to complete the project or they may choose to appoint a new builder themselves.
In this situation, it is imperative that you contact your broker for advice as soon as possible to minimise potential costs and delays.
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Pat, Jake & their team are absolutely great at securing the best rate. I have been using them for many years now, and always consult them for refinancing every 1-2 years to check what is the best rate available to me. They are able to negotiate much better rates with the banks than if you go to the banks directly.
Without pre-approval, Pat and Jake allowed us to buy ourselves the house we wanted. They managed to get us financial approval with a lender perfect for us in only 6 days.We are very happy with our experience and would recommend others to use NBHL when looking for a fast and easy borrowing experience.
Highly Professional and helpful. I would highly recommend Pat and his team!! Our situation was slightly complex, however they guided us through the process and were able to achieve a successful outcome.Their professionalism and communication with us were of the highest order. I would highly recommend Pat to anyone looking for a homeloan!!
Seamless from start to finish! Pat and his team were amazing. The whole process was so easy and painless. The application process was seamless from the upload of supporting docs right through to the actual signing of loan application and mortgage docs. Pat and his team were there to support us every step of the way with regular contact and simple explanations. I can’t thank them enough.
I can’t thank the team at North Brisbane Home Loans enough for getting my home loan unconditionally approved today after an unexpected last-minute hiccup. From the very first call I had with Pat, talking me through the process and various options, to liaising with Di and Jake through the pre-approval process and then having Fiona on speed dial over the past week or so, answering all my calls and diligently working to get full approval while up against the clock - everything was done promptly and efficiently, with all communications clearly setting out what was required at every stage to make the whole process seem less daunting. Nothing was too much trouble for this friendly, helpful, calm-under-fire, amazing team. Woohoo! Thank you, thank you, thank you! Team work really does make the dream work and NBHL are the dream team. Thanks again!
This is the second time we have used Pat and the team; this most recent venture was exceptionally complicated, daunting and stressful. However Pat and Jake almost made it simple. They responded to my 1000 panicked emails with patience and clarity, never sugar coating anything. All the legalities were made transparent and easy to understand. We are so happy to say as from today, this amazing team of professionals played a very big part in bringing a very traumatic previous 18 months for our family to an end, with our new home purchase becoming unconditional literally hours ago. We can't thank them enough, it's been a long journey, but we made it thanks to them. If there was an option to pop down 10 stars, we wouldn't hesitate. Thanks, NBHL
Very helpful. Patrick was very professional and easy to deal with, and I felt that I could ask all the silly questions during the home loan refinancing process and get real answers and still be taken seriously. He took his time to explain my different options thoroughly, and made the process as smooth as possible once a decision had been made.
10/10 recommend. Pat recently helped my husband and I remortgage our home and the whole process was simple and effortless. I always felt like Pat and his team were working hard for us and we were looped in through the whole process. Would absolutely recommend 🙂
Exceptional Broker and Team - Honest, Prompt and Realistic. Highly recommend Patrick and the Team he works with. Our trusted broker that we go to repeatedly for mortgaging and refinancing. Always honest and seeks products that fit primary needs, plus offers valuable and realistic advice. The only broker we refer our friends and family to! Always in touch with us on time, made refinancing easy, friendly and upfront - every member of the Pat's team answered all our questions and laid out the steps ahead well in advance of settlement. Refinancing couldn't have gone any smoother! Only praise to share. We will continue to use Pat indefinitely.
Excellent customer service, advice and attention to detail.Have now used NBHL for re-financing our home loan and to purchase our investment property. Can highly recommend.
Luke and the team at NBHL were a pleasure to deal with throughout the entire process of buying our first home. Luke was always contactable and made the effort to answer all our queries promptly and simplify the entire journey. As first home buyers we couldn't imagine buying without the help of such a knowledgeable team that has put a great emphasis on customer care.
I am writing to express our sincerest gratitude for the exceptional assistance you provided us in navigating the complex process of securing a home loan. Your professionalism, clear communication, unwavering transparency, and adept use of technology truly set you apart.You consistently ensured that we understood each step of the home loan process. Your ability to explain complex financial terms in a simplified manner made us feel confident and empowered in making informed decisions.Moreover, your expertise in utilising technology to streamline the loan application process was truly remarkable. From secure online document submission to virtual meetings, you effortlessly incorporated modern tools into our interactions. This not only saved time but also demonstrated your commitment to staying at the forefront of industry trends, ensuring a smooth and efficient experience.Once again, thank you for everything you have done. I wish you continued success in your endeavours, and may your expertise positively impact many more individuals like myself.Well done Team North Brisbane Home Loans!!
6 years ago we used NBHL service to buy our house/land package as a first time owner in Australia. Pat, Di and the team have been really professional. Everything went so smoothly. A month ago, we contacted NBHL to discuss any possibility to buy an investment property. Luke has been awesome, and went through all the options in details. Here, again the communication was great and everything went smoothly. Highly recommended.
Hassle-free re-finance. Pat and the team from North Brisbane Home Loans made our complicated re-finance very easy. The team go out of their way to ensure a smooth loan application/transfer process. Second time with this great experience from the NBHL team, highly recommended.
Friendly, professional service for expat loan refinancing. Pat, Di and team were incredibly helpful, patient, and flexible while finding an Aussie non-resident refinancing solution for me. These days that is no easy task!They kept me informed at every stage of the process from the solution hunting, to the decision making and throughout the closing process.Their services were invaluable and I couldn’t recommend them highly enough.
I contacted Pat at North Brisbane Home Loans based on their reviews. From the minute I spoke with Pat I felt at ease with his knowledge, experience, friendliness and felt straight away that he had our best interests at heart.Pat, Di and the team at North Brisbane Home Loans are so lovely and took away a lot of the stress of the whole process by communicating regularly and by explaining in detail all answers to any questions we had. They guided us through every step of the way and now thanks to the team we are in our dream home.Thank you all so much, we are over the moon!10/10 recommend!
Pat, Di, and the team at North Brisbane Home Loans are fantastic. They supported us every step of the way in our home loan application/home buying journey, and we couldn't be happier with the service recieved. They made the process so easy for us and we will definitely use their services again. We highly recommend!
The team at North Brisbane Home Loans were phenomenal from the very first point of contact. Pat was amazing in taking us through a step by step guide on how to purchase our first home!They were extremely responsive throughout the entire process with consistent and reliable communication.Would recommend to anyone looking to get into the market with a knowledgeable Broker!Thankyou.
The most amazing service from Pat & Di at NBHL. Their expertise and patience throughout the entire process made it feel easy to buy our first home. Their guidance and support was immeasurable and we couldn’t have done it without them!Thanks to the team at NBHL for everything.
Fantastic mortgage Broker!We used Pat and his team when we originally bought our first home back in 2017, and they were so fabulous that we went back to them this year (2022) to re-mortgage and change up our home loan. They do a wonderful job - great communication and dedication to get you the best rates possible. They also fix any mistakes the bank makes for you, quickly and efficiently. Can't rate them high enough, we will definitely be going back to them in the future.
Knowledgeable, Professional and CalmBack in 2021 a colleague referred me to Patrick, we weren’t ready to buy yet but wanted to meet Pat as he had helped my colleague with his family home, plus 2 additional investment properties. My colleague was so impressed by the services offered by Pat that I had to meet him for myself! He didn’t disappointment, we decided after our first meeting on a plan and locked in to touch base again in a years time!1 year later, everything was in place and Pat helped us put everything in place and we are now proudly living in our new family home!Many healthily conversations were had, and Pat is really knowledgeable but we also appreciate his cool and calm manner.We will not hesitate to refer him and North Shore Home Loans to friends and family. We will also definitely be reaching out again when we expand our investment portfolio in the future.
We had a great experience with North Brisbane Home Loans. Our broker was Luke and he was excellent in listening to what we needed and providing us with loan options that would work for our situation. We liked the videos they provided explaining the product options and recommendations. Being able to watch the videos in our own time was helpful. Fiona was amazing in collating all our information and documents and working with the bank once we did find a house. The communication and customer service was superb. I would recommend NBHL.
The team at North Brisbane Home Loans were phenomenal from the very first point of contact. Luke was brilliant in taking us through a step by step guide on how to achieve our goals, provided us with useful resources, and was very willing to answer all questions we had as first home buyers. We had a tight settlement timeline and the team (Luke and Fiona in particular) made it appear effortless. They were extremely responsive throughout the entire process with consistent and reliable communication. We could not recommend NBHL highly enough!
My husband and I are grateful to Luke, Fiona and the team at North Brisbane Home Loans they are absolutely brilliant to deal with.We had a very pleasant experience with Luke he took the time to investigate several different scenarios to get us the best possible product and solution. Luke and Fiona were very responsive to our queries even calling after hours when necessary. While we were first time home buyers they reassured us every step of the way, confident in their advice and decision. Their patience and willingness to walk us step by step each process over the phone was greatly appreciated.Overall a very efficient and professional organisation you won’t be disappointed.
I had an absolutely amazing experience with North Brisbane Home Loans. I was able to buy my first home with the advice, help and professional guidance of Pat and his team. I was very well looked after from the minute I reached out. Everything was handled in a very friendly, professional and timely manner. Whenever I was worried, unsure or needed assurance I was replied to promptly with everything I needed to know. The team were even willing to drive to my workplace to ensure all of my documentation could be signed and submitted promptly. I cannot recommend them enough!
