Construction Loan
The construction loan is classified into three
1. Land and Construction;
2. Land loan only - Must intend to build on the land in six months.
3. Construction only.
Download a printable version of the Wilson National Construction Loan.
Repayments
While land only or during construction they are variable rate, interest only. Interest is calculated daily and debited on the 15th.
After construction is complete the loan converts to variable rate, principal and interest automatically. However requests for other products can be made.
Loan Size
Minimum $30,000 and Maximum $750,000.
Size
You can have up to four loan accounts with a minimum account size of $10,000.
Construction Period
Construction must commence within six months from settlement and not exceed twelve months from settlement date.
Term
10,15,20,25 or 30 Years.
Statement Issue
During construction statements are issued monthly. After construction is complete statements are issued twice a year after 30 June and after 30 December.
Repayment Method
You can pay by direct debit on a monthly, fortnightly or weekly frequency. Additional repayments can also be made via the Loan Service Net or Loan Service Line.
LVR
$30K - $300K
95% Metro, 75% Country
$300K - $500K
90% Metro, 70% Country
$500K - $750K
75% Metro, 60% Country
* Comparison Rate applies to a loan amount of $300,000 over 30 years. Different amounts and terms will result in different
  Green Construction Loans - All Wilson National Construction loans carry the carbon neutral logo and are 100% carbon neutral.
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