Are your renovations extensive or minor?
If the renovations are extensive, such as adding a new level to your property, you may need to obtain a Construction Loan.
If the renovations are minor, such as adding a pool, pergola, kitchen or bathroom, you may need an additional loan on your existing loan or take out a personal loan.
The loan options and structures will be based on:
- Your current position
- The equity you have in your current home
- The end value of your home after the renovations are complete.
Costs associated with your renovation
Apart from the actual construction itself, additional costs that may apply include:
- Architect Services such as plans, if the renovation is extensive
- A Fixed Price Contract from your Builder
- Council Approval
- Construction Loan Costs
- Property Valuations
Your Sage Loan Services Consultant will be able to discuss which loan options are suited for you.
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What Our Clients Say
John and I would like to thank you all for assisting us in getting a better and cheaper home loan with Macquarie Bank. Your service has been impeccable, one that I can not fault.
You always followed through with whatever actions or follow up were required and have made this as stress-free as possible for us. You were all diligent in chasing us up for our paper work which I know was difficult at times.
If we had a query, there was always one of you to assist or answer our questions and would speak to us in a way we could understand the bank jargon. You all have so much inside knowledge into the banks and the way of doing things that we always had full trust in you.
We really appreciate all your hard work and will be referring you to all my friends and family.