Home Construction Loans on the Gold Coast

Build Your Dream Home On The Gold Coast With Home Construction Loans

Professional Lending Solutions specialises in shopping for home construction loans and finding the right one to fit your needs and budget. With competitive interest rates and personalised service, my team and I make the process of financing your dream home a breeze. Our unique value proposition lies in our commitment to finding tailored solutions that align with your goals and aspirations.

Let us help you turn your dream home into a reality!

How Do Construction Loans Work?

So you want to build a house. You have the land, but you do not have the money to pay for all the building materials and labour upfront. That’s where home construction loans come in.

A construction loan is a special type of loan that helps you pay for the costs of building your new home. You apply for a house construction loan from a bank or other lender, just like you would apply for a regular loan. But instead of getting all the money at once, the lender gives you the money in house stages as the building work progresses.

What owner builder construction loans can look like:

Remember that lending solutions like home construction loans can be more complex than regular loans. It’s always a good idea to work with a mortgage broker Gold Coast or financial advisor to help you understand the process and find the right loan for your house construction.

Stages of construction financing

Here’s a table outlining the typical stages of construction for a new home, and when you may be able to access funds from your construction loan:

Construction Stage




Fit-out/ Fixtures

Practical Completion


Percentage of Loan Drawn Down







Example of Work Completed

Site preparation, excavation, foundation laid

Walls, roof frame, windows and doors installed

External walls completed, roof tiles installed, windows and doors fitted

Plumbing, electrical, insulation, plasterboard installed

Final touches, inspection, certification, ready for occupancy

Applying For Home Construction Loans

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Determine your borrowing capacity

Understand how much you can borrow. You can use online calculators or talk to a mortgage broker to help you determine your borrowing capacity.

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Find a lender

Start researching different lenders and construction loans available in the market. At PLS, we will compare interest rates, fees, loan terms and conditions, and eligibility requirements for you.

Gather documentation

My team and I can help you with organising your documents such as your proof of income, employment details, asset and liability statements, building contract, and plans and permits.
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Get pre-approval

After you’ve chosen a lender and gathered your documentation, I can help you apply for pre-approval. This will give you an idea of how much you can borrow and will help you when negotiating with builders.

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Final approval

Once you’ve found a builder and the construction contract has been finalised, submit a formal loan application to your lender. They will assess your application and approve the loan if everything meets their requirements

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Loan settlement

After your loan has been approved, your lender will provide you with the funds in stages as the construction progresses. This is known as ‘progress payments’

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Building inspection and handover

When the construction is complete, have the property inspected. If everything is in order, you can take possession of your new home and start making payments on your construction loan.

How Do Construction Loans Work For Renovations?

Construction loans can also be used for renovations, which involve making major changes to an existing property. When you use construction financing for renovation, it will get referred to as a renovation loan.

The process of applying for a renovation loan is similar to applying for a construction loan. You will need to determine your borrowing capacity, find a lender, and provide documentation such as your proof of income, building plans, and permits. Once you have been approved for the loan, you will receive the funds in stages as the renovation progresses. This allows you to pay for the costs of the renovation as they arise.

Renovation loans may have different terms and conditions compared to construction loans. It may also have restrictions on the types of renovations that can be carried out. Consult with your lender and a qualified builder to ensure that your renovation plans are feasible and will add value to your property.

Ready to Build
Your Home?

FAQs on Home Construction Loans

The amount you can borrow with a construction loan will depend on a variety of factors, such as your income, expenses, and the value of the property. Lenders will typically lend up to a certain percentage of the property’s value.

Generally, interest rates for construction loans tend to be higher than for regular home loans. This is because they are considered riskier by lenders. This is because the loan amount is paid out in stages, rather than in a lump sum, and the lender is exposed to the risk that the construction project may not be completed on time, or that the borrower may default on the loan.

The interest rates for construction loans can vary depending on several factors, including the size and complexity of the project, the borrower’s credit score and financial history, and the lender’s policies and lending criteria.

Construction loans can come with a range of fees and charges that borrowers should be aware of when considering their options. You will be asked comply with application fees which conver the cost of processing and assessing your loan application. It can range from a few hundred to several thousand dollars depending on the lender and the loan amount. Then there’s the valuation fees that cover the cost of having the property valued to determine its market value, progress payment fees for assessing the progress of the construction project and making payments to the builder, and discharge fees for when you repay the loan in full or refinance with another lender. It covers the cost of discharging the mortgage from the property title.

The drawdown period is the time during which the loan amount is progressively paid out to the borrower. This period typically corresponds to the construction period.
The construction period can vary depending on the size and complexity of the project. Usually, the construction period for a home construction loan is between 6 and 18 months.

A construction certificate is a document that confirms that the proposed building work complies with the relevant building codes and regulations. It is usually required by the lender before a construction loan can be approved.

When building a home, it’s not uncommon for the homeowner to want to make changes to the plans during the construction process. Making changes can impact the cost and timeline of the project, so discuss any changes with your lender and builder. Your lender will need to assess any changes to the building plans to ensure that they are still in line with their lending criteria. Changes could also impact the progress payment schedule, which can lead to additional fees or delays in the construction process.

Your builder will also need to assess any changes to the building plans to ensure that they are feasible and can be completed within the agreed-upon timeline. They will need to factor in any additional materials, labour, or time that may be required to complete the changes.

If the construction costs exceed the loan amount, you will need to fund the additional costs yourself. This is known as a cost overrun and can be avoided by accurately estimating the total cost of the project before applying for a loan.

Yes, you can use equity in an existing property to fund a construction loan. This is known as a line of credit loan.

If the builder goes bankrupt during the construction process, you may be able to make a claim on the builder’s insurance or warranty. Alternatively, you may need to engage a new builder to complete the project.

Yes, but make sure to read the terms and conditions of your loan agreement. Some construction loan agreements may include early repayment fees or penalties if you pay off the loan before the agreed-upon term. These fees or penalties are designed to compensate the lender for the interest they would have earned if you had continued to make regular repayments until the end of the loan term. You should also consider any potential tax implications or other financial considerations that may apply.

5-star reviews from happy clients!

Katie WattsKatie Watts
10:41 01 Apr 24
A heartfelt thank you!! Goes out to Phil and the entire team atProfessional Lending Solutions. Their unwavering support and guidance have been crucial in ensuring the success of my property journey. I am truly grateful for everything they have done and could not have accomplished this without their expertise and assistance.
Malin BurnandMalin Burnand
05:29 07 Mar 24
Phil and Professional Lending Solutions helped us sort out a home loan on very short notice, and it was smooth and hassle free. We were very impressed with Phil's friendly and professional interactions. Thank you so much!
Austin CampionAustin Campion
09:45 06 Mar 24
Phil, Jenny and team worked tirelessly to get our transaction over the line. Given the tight timeframes, and more complicated refinance and purchase there were numerous credit conversations. We were fortunate to have their advice, industry expertise and ability to deliver under changing circumstances. Ultimately, Charlotte and I were able to settle on time and seamlessly with Professional Lending Solutions help.
Nick BrailsfordNick Brailsford
01:38 06 Mar 24
Fantastic customer service again and again. We have been with Phil and his team at Professional Lending Solutions for 5+ years now. Phil helps our small business with a variety of essentials, ranging from cash flow to equipment loans to vehicle finance and of course the complimentary personalised business advice that’s invaluable, which helps us to make educated financial decisions.
Charles FraserCharles Fraser
06:05 05 Feb 24
Phil and the team at Professional Lending Solutions provide a great service, have a wealth of knowledge, and conduct their business in a very professional and timely manner. I would recommend them to anyone looking for finance.
Sara AllanSara Allan
03:51 13 Jan 24
We couldn't recommend Phil and his team enough! We've been working with Phil for about six months to get us to a position where we are able to purchase our own home, and are getting ready to move into our dream home as we speak.Phil's been straight up with us in regards to our options throughout the whole journey, and worked with his connections to get our application across the line amid investment property settlements, and the added complication of both of us owning our own businesses.We hope to never move again (!) but will be back to talk to Phil for our refinance options in the future 🙂
Rachel PounderRachel Pounder
23:25 08 Nov 23
Phil was amazing to work with, very knowledgeable and was a stress free process to refinance my loans. Would highly recommend his services.
Melissa SilkMelissa Silk
09:40 11 Oct 23
Phil was recommended to us and we could not be happier with the result we achieved having him by our side for the sale of our home and the purchase of our new home.Phil was incredibly prompt, honest and professional. He addressed every single query (and there were MULTIPLE) in such a timely manner. Phil helped map out the nitty gritty details from the get-go with honesty and his professional opinion so that when we decided to go ahead and buy in this current market, instead of waiting, we were able to achieve settlement in such a tight timeframe (21 days to be exact). We will DEFINITELY be approaching Phil in the future and are 110% more than HAPPY to recommend him to friends and family. Jenny, thank you for being the behind-the-scenes magician during our entire journey. We are very appreciative of your hard work (especially in the moments right before settlement).
Ben ShieldsBen Shields
22:32 20 Sep 23
I have been using Dean for all my financial requirements for a few years now, along with others in my family. He has become our family finance guy. He always finds the right deal, gives great advice and makes the journey easy. I recommend to anyone !
Anton HermantoAnton Hermanto
05:34 31 Aug 23
I was recommended the service of Phil through my Real estate agent.,if you need assistance with your home lending please go and see Phil, exceptional service and with his corporate Banking background he understood our finance need and was able to recommended the right product for us.Thank you Phil & team
Andrew ThorntonAndrew Thornton
01:20 28 Aug 23
Phil was brilliant. The turnaround for our re-mortgage was very quick, and Phil made the process seamless. Would recommend 10/10.
Keeley-Anne loweKeeley-Anne lowe
05:37 18 Aug 23
Phil & his team are amazingThey supported us through buying our first home in Australia, they were always on hand to answer our many questions either via email, phone or in person.Super professional but also down to earth and friendly- would 100% recommend
Jason in Byron BayJason in Byron Bay
08:30 17 Aug 23
Great team and very easy to work with with....Highly recommended
Dino BaroneDino Barone
07:38 17 Aug 23
I cannot express how grateful I am for the exceptional service I received from Phil during my journey to buy my first home. From the very beginning, his dedication to guiding me through the complex process of obtaining a mortgage was truly remarkable.Phil demonstrated a level of honesty and transparency that I never expected from a mortgage broker. He patiently walked me through all the available options, explaining every detail in a way that made sense. His expertise gave me confidence in the decisions I was making.What truly set Phil apart was his commitment to my best interests. He went above and beyond to find a loan that was tailored to my financial situation, ensuring that I wasn't taking on more than I could handle. His advice was always genuine and well-informed, and I never felt pressured into making any decisions.Throughout the entire process, Phil was incredibly responsive. He promptly answered all my questions, no matter how big or small. It was evident that he genuinely cared about my experience and wanted to see me succeed in securing the best mortgage for my new home.I cannot recommend Phil highly enough.
Eliza SmithEliza Smith
20:40 14 Aug 23
Phil and the team at Professional Lending Solutions worked with us efficiently to help us secure our family home. The team kept us informed and helped us every step of the way. Our experience with Professional Lending Solutions was fantastic and I would highly recommend!
Roland PetersonRoland Peterson
22:59 03 Aug 23
This business does a very professional job and made the whole process of our financial application smooth and easy. Phil also was very responsible and respectful and i felt we could trust him and his process as well. Highly recommend this broker!
Nick TurnerNick Turner
06:52 02 Aug 23
As a first home buyer the whole process was a bit daunting. Phil and the team were in real and simplified the lot. They really went to battle with the banks for me (being self employed) and got me the best possible outcome. Can’t recommend them high enough !
Harley BericHarley Beric
07:12 21 Jul 23
Phil and his team went above and beyond with the service they provided.I have been a long term client of PLS as I could not find a house that met my budget.Phil was very understanding as he listened to all my questions I had to ask. He provided me honest feedback which made me feel safe and comfortable that I made the right choice in choosing him.Because it was my first time buying, PLS answered every question I had without frustration or judgement as they had to explain things to me once, twice and something a third.It was a very stressful life decision that should not be taken lightly and with Phil and his team behind you, you will never be made to feel as if you made the wrong choice with choosing them as a Broker.Many thanks once again.
Sinead BroadmoreSinead Broadmore
09:01 08 Jul 23
We couldn't recommend Phil and his team enough. They were amazing and so helpful through the whole process. Having only moved to the country 6 months prior it was a stressful situation for us but they made it so easy and stress free. Will definitely use them in the future if need be!!
Nathan ThomasNathan Thomas
03:20 20 Jun 23
Phil and the team from Professional Lending Solutions were very easy to work with and as with the name states were very professional!For clarity I’ve known Phil for many years and I’ve seen how he was able to help others get into their first homes and even second homes. It was now our time for the team to help us.We had many questions and were able to get all the answers we needed to make the right decisions.If your looking for a professional team that takes the time to explain all the processes, keeps you informed and gets things done then take the time to give them a call to see how they can help make your dreams a reality!
Donna hughesDonna hughes
05:53 22 May 23
We went to see Phil to refinance our home loan and consolidate our loans. Phil was full of information and very professional. We couldn't believe how quick Phil had got everything done for us. So thankyou very much Phil we would definitely be referring family and friends.
Phil, Jenny and the team at Professional Lending Solutions were more than what we could of hoped for. Very informative and were there through every step of the process. We couldn't done it all without them. I cannot recommend them highly enough. Every single one of the team is friendly and totally professional and helped put us at ease through every step.Thank you!
Marie HibbertMarie Hibbert
01:05 21 Mar 23
We were reccomended Phil and his team from word of mouth (people I work with). As first time buyers we had many questions and alot of learning to do. Phil and his team were always a email or phone call away and were happy to answer all the questions we had. The process was easy from our very first face-to-face meeting and we felt confident in putting our trust in this team. Thank-you so much for starting us on a property journey. We would highly recommend their business! Pete and Marie
Kyle RobinsonKyle Robinson
03:20 14 Mar 23
Phil & his team were absolutely amazing through the whole process of buying our home. They were happy to answer any and all of our questions no matter how silly they were and guided us through the whole process. They made buying our home stress free and let us enjoy all the excitement without having to be concerned about all the small details.If you are looking to buy a house or even just considering it you should definitely give Phil and his team a call. They will get you right on the path to your home.
00:27 14 Mar 23
Phil got our first home loan 8yrs ago when we thought we couldn't and since then we've refinanced several times to ensure best rates as well as a business car loan. Always a personal approach, highly recommended.
Michelle KMichelle K
03:14 08 Mar 23
The best brokers in the business.Phil and the team at PLS went above and beyond to help us refinance our mortgage and find the best solution for our circumstances.Phil is professional and fantastic to deal with.Highly recommended!
jake smithjake smith
08:30 19 Jan 23
Very happy we went with Phil and his team, being our first home we didn’t know what to do or understand a lot about buying a property we just knew we wanted one and Phil and his team walked us through every step and made it easy! Would 200% recommend
Sarah CameronSarah Cameron
00:13 11 Jan 23
Mel, Phil and the team at Professional Lending Solutions were simply amazing. Nothing was too much of a hassle. They made the whole experience extremely easy, stress free and had it approved within 3 days. We couldn't be happier with the service and would highly recommend their business! Will be using again!
Kirsty ScottKirsty Scott
07:53 15 Nov 22
Phil was incredibly helpful, patient and honest throughout the entire process of re-financing. I appreciated his thorough and detailed answers to my questions, as well as his amiable nature. He was open and spoke with great candour, ensuring the entire process was simple, stress free and, straightforward. All in all a top bloke and skilled broker who I would certainly recommend. Thanks again!
Lisa VinczeLisa Vincze
10:00 29 Aug 22
You should use Phil and the team at Professional Lending Solutions! We have used them a couple of times and they make it so much easier to manage the mortgage process - and know you’re getting the best personalised deal. Phil is so lovely and very responsive. Will be using them again.
Jordan SummersJordan Summers
00:29 29 Aug 22
We recently went through the often stressful process of selling our home and purchasing another. Phil and his team came up with the best tailored finance solution for our situation and were always on hand to provide guidance around the process from start to finish.I couldn’t recommend Professional Lending Solutions any higher, they were simply superb to deal with!!!!
Jennifer McLeodJennifer McLeod
00:20 29 Aug 22
Many thanks to Phil and the wonderful Professional Lending Solutions team! Having Phil in our corner for our financial needs has played a key role in securing the appropriate home loans for us. Highly recommend!
Renee AgnewRenee Agnew
02:57 04 Aug 22
Phil Verheijen has been fantastic in providing advice on all matters of the lending system for purchasing my first property. I can highly recommend Phil as he is genuine and professional. Also his friendly team were extremely helpful.
Diana SaragozzaDiana Saragozza
04:19 27 Jun 22
Professional Lending Solutions were absolutely amazing. After several bad experiences with other brokers in the past. These guys were straight to the point, very professional, excellent customer service and got our loan approved so quickly. They provided support and advice before and after the purchase of our home.Highly recommended.
Michael FryerMichael Fryer
06:47 27 May 22
Dealing with Phil and the team at Professional Lending Solutions was amazing.Absolutely incredible communication and professional support and advice throughout.Phil was happy to answer all our questions and explained the process to us with great detail.If you ever need a good broker please do yourself a favour and see Phil. You will not be disappointed. Thanks again Phil and the team at Professional Lending Solutions. Keep up the great work.