Build Your Home

Build Your Dream Home with Construction Loans from MORTGAGE NEXT

Building your own home from scratch is a dream come true. Construction loans are designed to finance the construction of a new house or renovate your current home.

Understanding Construction Loans

Construction loans differ from standard home loans, so it's important to know what you're getting into. Here’s what you need to know:

- Staged Drawdowns:

Construction loans are drawn down in stages as your property is built. This means your monthly mortgage repayments gradually increase as construction progresses, reaching the full repayment amount upon completion.

- Interest-Only Repayments:

Many lenders offer interest-only repayments during the construction phase, which switch to principal and interest repayments once the construction is complete.

Benefits of Building vs. Buying

While constructing a home offers the opportunity to create your perfect living space, buying a home has its own perks. Ultimately, whether you choose to build or buy, a home is a home.

How MORTGAGE NEXT Can Assist You

At MORTGAGE NEXT, our advisors are here to guide you through the construction loan process and help you choose the best approach for your needs.

- Expert Guidance:

Our experienced mortgage advisors will help you understand the intricacies of construction loans and ensure you’re well-prepared for each stage of the process.

Personalized Assistance:

  - We provide tailored advice and support to help you make informed decisions, whether you’re building a new home or renovating an existing one.

Contact MORTGAGE NEXT today to let our advisors assist you with the correct approach to financing your construction project. Build your dream home with confidence!