Help and advice

Getting Finance

Getting finance to build your home can be quite stressful. One of the reasons for this anxiety is that most people think that getting pre-approval guarantees them the funds to build their home.

There are two problems with this as pre-approvals have limitations:

  • A 3 month life span
  • Not a guarantee for the funds

In order to get the final approval for your loan, you will need 3 important documents from your builder:

  • Approved house plans
  • The final tender
  • Signed contract

The bank will need all three documents before giving you final approval for your loan. Sometimes before you get these documents you will have to go on a 6-12 month journey with your builder.

It is very important that you only use the pre-approval as a guideline and a rough budget to what you can afford and be sure to plan ahead.