Construction loans

If you’re building a new home or planning major renovations to your existing home, a construction loan is generally the most appropriate funding option.

The difference between a construction loan and a standard home loan is that instead of a lump sum payment at agreement signoff, the loan is usually drawn down in stages. Payments (or draw downs) coincide with the initial purchase of the land followed by a number of key construction stages as stated in the building contract and signed off after inspection, by the lenders valuer.

Interest payments

This type of loan is ideal for building, as you only pay interest on the amount you draw down. For instance, if you have borrowed $250,000 for a house and land package, but have only drawn down $100,000 to pay for the land, you only pay interest on the $100,000 not the full amount.

Commercial Lending

Locumsgroup's commercial lending specialist Brook Roberts has been a commercial finance consultant for 40 years.

The primary focus of our commercial lending division is sourcing funds for clients for a range of applications. These include:

• ◊ Establishment of lines of credit for funding real property purchase, plant and equipment purchase and leasing, and working capital.
• ◊ Rearrangement of existing credit and or loan facilities to either improve efficiency or widen opportunity.
• ◊ Introduction of joint venture parties for property, project or product development and or equity participation.
• ◊ Mezzanine or Seed capital requirements.

Eric Manuell's ability to assist in these areas stems from a lifetime of self employment in a variety of life experiences including automotive distribution, general aviation, hospitality and politics. These experiences when combined with expert negotiating skills enable effective interpretation of client-based needs.

We seek relationships that are based upon long term expectations and ongoing relationship. We take pride in what we believe are essential ingredients for successful representations of clients' needs. These include honesty, integrity and confidentiality. We will not compromise in the application of these aspects of our business conduct.

Success for our clients in commercial lending and structured finance often includes the application of lateral thinking and when required we will not hesitate to apply it in order to achieve a good result.

The key to our business success is achieving, or where possible exceeding, our clients expectations.

The preferred minimum loan threshold is $500,000 but we will respond to any enquiry and advise our capacity to assist.

To speak to an expert Mortgage Manager about the right loan for you call 1800 24 86 86 or click here to submit a query.