Browse Forums Home Finance Re: CBA construction loan - out of contract items 2Nov 02, 2022 1:45 pm Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: CBA construction loan - out of contract items 5Nov 03, 2022 1:09 pm Hi Noname, Yes we paid the contributions to the bank and then they would pay trades from that. I received confirmation that the bank will reimburse funds at completion of the build, however it could be an issue if it isnt like-for-like for materials (i.e. if we picked lower value materials to save money, affecting valuation). Hope this helps someone in the future too! The biggest challenge will be if you take out a loan and then run out of money - you'll have an incomplete security and lenders do not like this so you can get stuck.… 2 19797 The best advice is for you to get a competent building consultant to guide you through your build 7 4839 The significant date is when receive final payment invoice Check that section of contract Bit of fluff by builders prior to that 1 16117 |