You need a building loan to build a house on vacant land, or to finance renovations on an existing property.
Unlike a home loan, the bank pays out a building loan in stages, as each stage of the construction process is completed.
As with a home loan, you will need a good credit record when applying for a building loan. You will also need to ensure that the contractor is registered with the NHBRC (National Home Builders Registration Council).
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Simply The Best
Ooba home loans services are simply the best. My Consultant Bianca Dancer was so hands on and helpful from the get go. She guided me through the entire process and put me at ease being a first time buyer. I highly recommend their services.
Tia J
Excellent Service
Jay Govender and Maleshini Reddy from OOBA provided outstanding assistance and guidance in securing our home loan. Response times were excellent and they were professional and friendly.
Brice G
Bond Application
Estelle Vorster was really helpful in securing the best deal for my home loan, she not only negotiated a lower interest rate she went as far as securing 50% discount on the transfer costs.
Butana M