Buying land then building

Land loans basically work the same way as any standard variable Webdeal home loan. You will need to have a deposit of at least 10% as 100% loans are not available on such transactions. You will also need to have some funds towards stamp duty on your purchase. Once you settle on the land and sign a building contract with the builder of your choice, you will be able to apply for a Webdeal Construction loan.

Buying house and land on completion of construction

Here, you are simply buying a new property and are able to borrow in any one of a number of ways.
If you are a new homebuyer who does not have a deposit, you may be able to qualify for the Webdeal 100% Home Loan. Your First Home Owner Grant will be of assistance in covering the costs of your purchase.

If you do have a deposit, you may wish to go for the Webdeal Advantage Rate Loan. With this product you can borrow up to 80% of your purchase price at an amazingly low rate of interest.

Buying “off the plan”

“Off the Plan” purchases enable the buyer to simply place a deposit on a property yet to be constructed and settle on the purchase anywhere from one year to several years down the track. Buyers find this appealing especially in a growing market.

One of the main advantages in buying off-the-plan is that the value of your property may grow quite significantly between the time that you sign a purchase contract and the time that you need to settle. If your money is tied up elsewhere and you do not have enough funds to purchase today, you may be able to simply use a deposit bond to secure the property.

By the time that you need to settle, you should be able to have the property re-valued and at that point you may have sufficient equity in the property without needing to provide any deposit at all.

Renovating existing home

If you are renovating an existing home then having the Webdeal All-In-One Loan or the Webdeal Equity Loan will allow you to draw funds out of the equity in your property to fund it’s renovation.