Home Home loans Renovators
Mortgage broker for renovators
A renovation needs a finance plan that still works if costs run over. We help you work out how much you can access, which loan type suits the work, and how to manage cash flow while the builders are in. You never pay us a fee.
Questions you might be asking
Can we access the equity in our home?
Usually, if the home is worth more than you owe. We'll work out how much a lender is likely to let you use.
Construction loan or a cash-out?
A cash-out suits smaller jobs. A construction loan suits larger builds and pays the builder in stages. We'll help you choose.
Will the renovation add value?
That's a question for a valuer or agent, but we can show you how a lender is likely to value the home before and after the work.
How do we manage cash flow during the build?
We plan the loan around the build schedule and leave a buffer, because renovations often cost more and take longer than expected.
Council approval or finance first?
Get an idea of your finance early so you can plan the scope. A construction loan usually needs approved plans and a building contract before it settles.
Should we renovate or move?
Sometimes moving costs less than a major renovation. We can compare both from a lending point of view.
Ways to approach a renovation
Renovate to stay
Plan the finance around how long you'll live there and what you can comfortably repay.
Renovate to sell
Keep the budget tight and the timeline short, and plan how the loan is repaid when you sell.
Renovate or move
Compare the cost of renovating with the cost of moving before you commit to either.
Loan options we can look at
Every option depends on your situation and each lender's criteria. We'll tell you which ones fit before you apply.
Equity release
Borrow against the equity in your home and receive the funds up front. Suits smaller jobs.
Construction loans
The lender pays the builder in stages as work is done, and you usually pay interest only on what's been drawn.
Loan top-up
Increase your current loan, which can be simpler than taking out a new one.
Valuation planning
We plan the timing of valuations so your borrowing reflects the work being done.
Cash buffer
We build a buffer into the plan for the costs that only show up once work starts.
How it works
- Step 1
Talk it through
A free, no obligation chat about where you are and what you want to do.
- Step 2
Compare the options
We compare lenders across our panel and explain each option in plain English.
- Step 3
Apply
We prepare and lodge your application and keep you updated at every stage.
- Step 4
Settle
We stay with you through to settlement day.
Common questions
Does it cost anything to use Vitara Finance?
No. Vitara Finance doesn't charge clients a fee. Lenders pay us a commission when a loan settles, and we'll give you the details before you commit to anything.
What's the difference between a construction loan and a cash-out?
A cash-out increases your loan and pays the funds up front. A construction loan releases money in stages as the builder finishes each part, so you usually only pay interest on what's been drawn.
This is general information only and doesn't take your objectives, financial situation or needs into account. Lending criteria, fees and charges apply. Vitara Finance Pty Ltd, ABN 67 912 182 576. Credit Representative 580892 is authorised under Connective Credit Services Pty Ltd, Australian Credit Licence 389328.
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