Browse Forums Home Finance Re: Fixed rate on Construction Loan 8May 26, 2009 12:45 pm We had standard variable rate during construction( interest only but optional to pay extra off principal) and no choice to have it fixed - after settlement of house, loan reverted to standard principal and interest loan on variable rate - but we did have the option at that point of converting to something different- choice of fixed rates, line of credit etc. 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 18896 Thank you so much everyone. This all makes a lot of sense. I guess when you talk to a builder who butters up everything to look very polished, you get to start believing… 7 17507 So AFAIk the outcomes of the BAL ratings form part of a clause that allows them to pass these costs on to you. However the more relevant detail is how did it go from 19… 1 9142 |