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What Is a Construction LoanA Construction Loan is for borrowers wanting to build a residence. Some Mortgage House construction loans allow you to use the mortgage loan to purchase the land first and then construct a residence on it within the given timeframe (normally 2 years). Mortgage House also offers land only loans which allow you to purchase just the block of land, without having a building contract or council approved plans. Aimed solely at borrowers building a residence, the Mortgage House Construction Loan features an interest only mortgage repayment structure during the construction process (with up to 2 years finance of the land before construction), and principal and interest mortgage repayments after construction has completed. Construction Loans:Click on one of the Construction loans below for further details Where to go from here |
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