Off the Plan Home Loans

Considering buying a home off-the-plan? First, you need to figure out what off-plan mortgage options are available to you, and how the process works for off-the-plan home loans.

Buying a property before a single brick has been laid is not uncommon. It offers a host of advantages, including the fact that you’ll often get a significant discount below market value and there’s always a chance that the property will appreciate before settlement takes place. This is why many people opt for what is called an off-plan mortgage.

However, buying off the plan also has its risks, which is why it’s crucial to find a suitable loan product from a reputable lender. BFG’s brokers are highly experienced in helping people find the perfect off-the-plan home loans for their needs.

How do off-the-plan home loans work?

Property is typically the biggest purchase most of us ever make in our lives, and so it can seem a little daunting to make such a purchase based on illustrations, renderings, location and promises from developers. An off-the-plan home loan means that you’ll need to put down a significant deposit and borrow a large sum of money before the property even exists.

However, by doing your homework and speaking to the right professionals, you can save lots of money on your first home or investment property by determining your eligibility for certain tax benefits, stamp duty savings for buying a newly-built home, and standard first home buyer concessions.

One of the biggest advantages, however, is time. Buying off-the-plan allows you to put down a 10% deposit, for example, and then save the outstanding balance while the property is being constructed.

Secure the best off-the-plan home loan for your circumstances

At BFG Loans, our brokers start by conducting a one-on-one consultation with you. This allows us to clearly understand your circumstances and goals, so that we can compare the market and find the right product for you.

To speak with one of our professional brokers about off-the-plan loans, please feel free to get in touch and we’ll be happy to arrange a free consult. We also specialise in first home buyer loans, guarantor home loans, low deposit home loans, non-resident home loans and more.

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