Construction loan Perth
A construction home loan pays your builder in stages as your house goes up. Quantum Finance sizes that loan against your fixed price building contract and manages every drawdown through to completion.
- For owner-occupiers building a new house on a Perth block.
- Released in stages, with interest only on what has been drawn.
- Priced off your fixed price building contract and approved plans.
- We check the numbers against lender policy before you sign.
- Years broking
- 21+Years broking
- Loans settled
- $1B+Loans settled
- Credit licence
- ACL 389083Credit licence
- Lenders compared
- 40+Lenders compared
Our awards and recognition
Awarded by the people who see every broker’s numbers
Diamond Club
2026
Money Quest Group
Diamond Club
2025
Money Quest Group
Diamond Club
2024
Money Quest Group
Mortgage Broker of the Year
2023/24 — National, highest dollar volume settled
Southern Cross Broker Network
Excellence in Finance, Gold
2021
PLAN Australia
Excellence in Finance, Gold
2020
PLAN Australia
Hall of Fame
Valued partner, 15 years
PLAN Australia
Elite Broker
2021
Broker Value Proposition
Premium Broker
ANZ
Individual Excellence Award
2016
Specialist Finance Group
Sales Excellence Award
PLAN Australia
Sales Master Award
PLAN Australia
Top 100 Brokers
Four times
Australian Broker
What our construction home loan service does
The work we do on a new build, from contract to conversionA construction home loan is a home loan for building a house rather than buying one, released in stages as the house goes up. The work sits in three places: checking the project before the contract is signed, assembling a file the lender will accept, and keeping each drawdown moving once the site is live.
Lenders value the land and the finished house together, off your signed fixed price contract and the approved plans.
Every facility is subject to lender approval and your circumstances, and we tell you where a project sits before anything is submitted.
We check the build against lender policy before you sign
A fixed price contract commits you to the builder. Finding out afterwards that the numbers do not work is how deposits get put at risk. We confirm the project against real lender policy first, and tell you how long to make the finance clause.
We assemble the documents a construction lender asks for
A construction file carries more than a purchase does: the signed fixed price contract, council or shire approval and the building permit, final plans matching the contract exactly, your builder's registration and indemnity insurance, and the progress payment schedule.
We size the loan on the finished house, not the empty block
The lender values the property as if complete, reading the plans and the contract. Work you intend to do outside that contract is generally not counted. Landscaping, driveways, fencing, retaining and window treatments are the usual omissions, and we flag them at the start rather than at handover.
We run the drawdown cycle at every stage of the build
Each stage runs the same way. Your builder issues a progress claim, the lender usually sends a valuer to confirm the stage is finished, you sign an authority, and the lender pays the builder. We keep that cycle moving, because a stalled drawdown stalls the site.
We show you the repayment climb before it arrives
Interest applies only to the balance drawn, so the repayment rises with every stage and the last months of a build cost considerably more than the first. Budget against the repayment at full drawdown. That is the number you live with, and we work it out with you early.
We review the loan when it converts at completion
At practical completion the facility becomes an ordinary principal and interest home loan. That is the moment to look at the rate and the structure rather than a year later. We diarise it instead of leaving you on the product you started the build with.
Work out what the build costs to fund
Duty on the land, then the repayment on the finished loanTwo numbers matter early on a new build. Transfer duty falls due when the land settles rather than when the house is finished, and the repayment worth budgeting for is the one at full drawdown.
Work out your WA stamp duty
The dutiable value. Usually the contract price, or the market value if that is higher.
Foreign buyers pay an extra 7% of the dutiable value on residential property in WA.
Rates as at 10 August 2026, source: RevenueWA.
Estimated duty payable
$24,890
- Scale applied
- General rate
- Transfer duty
- $24,890
- Duty at the general rate
- $24,890
This is an estimate of transfer duty only, on the 10 August 2026 RevenueWA scale. It does not include Landgate transfer or mortgage registration fees, settlement agent fees, or the off-the-plan concession. RevenueWA assesses the final figure.
Talk through your purchase costsWork out your repayments
What you need to borrow, not the purchase price.
An example figure. Put your own rate in — we do not quote rates here.
Estimated monthly repayment
$3,597.30
- Total interest over the term
- $695,029
- Total repaid
- $1,295,029
- Repayment if the rate rose to 8.00%Roughly the buffer a lender applies when it assesses you.
- $4,402.59
This is an estimate. It assumes the rate stays where you put it for the whole term and it does not include fees, lenders mortgage insurance, offset balances or extra repayments. Your real repayment depends on the lender and on approval.
Book a 15-min chatEach tool has a page of its own explaining every figure it uses: stamp duty calculator wa and home loan repayment calculator.
How the money reaches your builder
Five progress stages, and what the lender pays for at each oneMost residential building contracts in Western Australia run five progress stages, though builders name them differently. The money moves one stage at a time, and the drawn balance grows with each release.
- Deposit
What the stage covers
Paid to the builder when the contract is signed
Worth knowing
Usually comes from your own funds rather than from the loan
- Base or slab
What the stage covers
Site works, footings and the slab down
Worth knowing
The first release from the loan on most residential contracts
- Frame
What the stage covers
The frame standing and inspected
Worth knowing
A valuer generally confirms the stage before the money moves
- Lock-up
What the stage covers
Roof, external walls, windows and doors on
Worth knowing
Typically the single biggest stage of the build
- Fit-out and practical completion
What the stage covers
Internal fixtures, cabinetry and finishes
Worth knowing
The final payment, after which the loan converts to a home loan
You do not have to manage this cycle yourself. We hold the progress claims, the authorities and the valuations together, and tell you what is happening at each stage.
Who a construction home loan suits
The new builds we arrange finance forEvery project below is an owner-occupied house funded progressively against a valuation of the finished home. These are the situations that arrive most often.
Buyers who have settled a block and chosen a builder
Owners building on land they already hold outright
First home buyers going straight to a new build rather than an established house
Families upgrading by building instead of buying again
Anyone holding a fixed price contract who wants the finance checked before signing
How our construction loan process works
Five steps to approval, then a drawdown at every stageThe application runs the same five steps as any loan we write. What follows approval is the part unique to a build: a progress claim, a valuer, an authority and a payment, repeated at each stage until the house is finished.
Start an application
You send us the basics and we work out what you could borrow and which lenders will look favourably at your situation.
Read this step in full: Start an applicationWhat you need
Income, debts, deposit
Get pre-approved
We put your file to the lender that fits and bring back a pre-approval in writing, subject to lender approval and your circumstances.
Read this step in full: Get pre-approvedWhat we do
Match the lender to your file
Get officially approved
Once your offer is accepted, the lender orders its valuation and issues formal approval.
Read this step in full: Get officially approvedWhat we do
Chase the lender, so you do not have to
Prepare for settlement
We go through the loan documents with you before you sign anything, then coordinate the lender and your settlement agent.
Read this step in full: Prepare for settlementWhat you need
Your questions, asked early
Stay up to date
After settlement we keep the loan under review as rates move and your circumstances change.
Read this step in full: Stay up to dateWhat we do
Review it, and tell you first
Step 1 of 5 · Start an application
About our independent mortgage brokers
The brokers who fund your new homeIndependent means no franchise above us and no lender owning a share of the business. Nobody upstairs sets a monthly target, so a build goes to the lender whose construction policy fits it. Your bank sells one construction product; we compare 40+.
Gavin Harrigan has been broking from West Leederville since 2005. Today it runs on a small team, Gavin Harrigan, Justin Richardson and Xavier Prescott, each with their qualifications on the page. You deal with the person who writes your loan, before settlement and after it.
The work runs from a first home loan, through refinancing and investment lending, out to construction, small developments and commercial property. Same broker, whichever end of that you are at.
- VerifiedBroking since 2005
- VerifiedOver $1 billion in loans settled
- VerifiedAustralian Credit Licence 389083
- VerifiedMoneyQuest accredited
- VerifiedMember of the Finance Brokers Association of Australia (FBAA)
- Verified40+ lenders on the panel
Fifteen minutes is usually enough to tell you where you stand. No cost, no obligation, and any lending is subject to approval and your circumstances.
Why choose us for a construction home loan
A build has one shot at the right lender, and it comes before you signEvery point below is a consequence of how this business is owned, not a slogan about service.
- Included
No franchise, no head office quota
We do not pay a franchise fee, so nobody upstairs sets a monthly target for us to hit. That removes the main reason a broker recommends the wrong loan.
- Included
No lender owns a share of us
The banks have no stake in this business and no claim on where files go. Your bank has one loan to sell you. We do not.
- Included
40+ lenders, one shortlist
We compare 40+ bank and non-bank lenders, then explain why the shortlist looks the way it does. Policy differences decide more applications than rate does.
- Included
We will tell you when the answer is no
If refinancing does not actually save you money, we say so and you leave the loan where it is. A wrong loan costs more than the fee it earns.
- Included
The same broker after settlement
You keep dealing with the person who wrote the loan. We review it as rates and your circumstances change, not once and then never again.
What our clients say
In their words, not oursReviews left by people we have settled loans for, pulled straight from the platform they were written on.
Our construction lender panel
Construction policy differs by lender, so we compare 40+Major banks, second-tier banks, and non-bank lenders who will look at a build the majors will not. MoneyQuest gives us access to the panel. 21+ years of writing loans on it tells us which lender to use.
A selection of the lenders we are accredited with. Ask us who else is on the panel for your situation.
Our construction finance guides
Understand the build before you fund itHow a construction loan is assessed and drawn down, in plain English. Each one carries a broker's name.
Approvals
Home loan pre-approval, explained
What a lender is actually committing to, and what can still undo it.
Read it: Home loan pre-approval, explained
Choosing a broker
What a mortgage broker does
What the job actually involves, who pays for it, and when your own bank is the better call.
Read it: What a mortgage broker does
Building
How construction loans work
Progress payments, a valuation of something not yet built, and the traps in between.
Read it: How construction loans work
Development
Funding a property development
How funders read a project, and why the exit is decided before the first drawdown.
Read it: Funding a property development
Meet our Perth construction finance brokers
You get a broker, not a call centreThree people, all named, all reachable. The person who arranges your construction loan is the person who chases each drawdown and the person who reviews the loan after it converts.
Gavin Harrigan
Managing Director
Broking since 2005, four-time Top 100 broker and a PLAN Australia Hall of Fame member.
- Bachelor of Commerce, Applied Finance and Commercial Law — Curtin University
- Diploma of Finance and Mortgage Broking Management — AAMC Training Group
- PLAN Australia Hall of Fame member
- Elite Broker status
- Top 100 Brokers, four times
Justin Richardson
Loan Consultant
Business and law background, and a habit of making the process feel simple.
- Bachelor of Commerce, Business Law and Marketing — Curtin University
- Bachelor of Laws (in progress) — Murdoch University
Xavier Prescott
Loan Consultant
Fresh qualifications, a competitor's discipline, and a lot of patience.
- Diploma of Finance and Mortgage Broking Management
Common questions about construction home loans in Perth
What is a construction home loan?
It is a home loan for building a house rather than buying one. The lender releases the money in stages as the build progresses, and interest is charged only on the balance drawn so far. Once the house is finished, the facility converts to a standard principal and interest home loan.
How does the drawdown cycle actually work?
Your builder finishes a stage and issues a progress claim. The lender usually sends a valuer to confirm the work is done, you sign an authority to release the funds, and the lender pays the builder directly. Your drawn balance and your repayment both rise, and the cycle repeats at the next stage.
Do I pay interest on the whole loan while the house is being built?
No, interest applies only to the amount drawn down so far, so the early stages cost far less than the later ones. Most lenders also allow interest-only repayments during construction. Budget around the repayment at full drawdown, because that is what you face in the final months.
Should I get finance sorted before signing a building contract?
Speak to a broker first. A fixed price contract commits you, and discovering afterwards that the numbers do not work can put your deposit at risk. We check the project against lender policy before you sign, and advise on the finance clause the contract should carry.
What does a construction loan not cover?
Generally anything outside the fixed price building contract, because the lender values the property from that contract. Landscaping, driveways, fencing, retaining and window treatments are the common exclusions. They arrive at the end of the build, so budget for them separately from the start.
Can I use the equity in my land as the deposit?
Often yes, if you already own the block and it can be valued. Equity in the land can contribute towards or cover the deposit on the construction facility. How much a lender recognises depends on a current valuation and on your serviceability, subject to lender approval.
What happens to the loan when the build is finished?
At practical completion the facility converts to an ordinary principal and interest home loan on the full drawn balance. That is the point to review the rate and the structure rather than a year later. We diarise the conversion so it gets looked at.
What documents will the lender want?
A fixed price building contract signed by both parties, council or shire approval and the building permit, final plans and specifications matching the contract exactly, your builder's registration and indemnity insurance certificate, the progress payment schedule, and quotes for anything you intend to add outside the contract.
Related finance we arrange
The other loans a new build usually sits besideMost files touch more than one of these. If yours does, it is the same broker and the same conversation.
House and Land Package Loans
House and land packages, where the land settles first and the build is drawn down after.
Learn moreabout House and Land Package Loans
Knockdown Rebuild Loans
Demolishing the house you own and building a new one on the same block, funded in stages.
Learn moreabout Knockdown Rebuild LoansConstruction Finance
New builds, knock-down-rebuilds and owner-builder projects, funded progressively as the build goes up.
Learn moreabout Construction Finance
The information on this page is general in nature and does not take into account your objectives, financial situation or needs. Any figures shown are estimates only. Lending is subject to approval, and to the lender's terms, conditions, fees and charges. Consider whether the information is appropriate for you before acting on it.
Get in touch
Talk to us before you sign a building contractFour questions and you are done. A broker reads it, checks the build against real lender policy, and rings you back on the number you give us.
Would rather just talk?
Ringing is quicker than waiting for us to ring you, and you get a broker rather than a queue.
1300 813 113