If you don't need long term borrowing on your new home but just need short term finance to get your house built, Advance short term building finance could be ideal.
If you will not need a mortgage when your house is complete but need to borrow money during its construction - Advance could be just what you need.
Almost a third of self-builders and renovators will not need a mortgage when their build is finished because they have sufficient capital to pay the cost of building their new home. However, this capital is usually tied up as equity in their current house and cannot be released without the self-builder selling and moving out of their current house.
While many self-builders do this and move into rented accommodation or a caravan on site during the building of their new home, many more would prefer to remain in their current house while their new home is being built if that was possible.
It is for these people that Advance has been developed. Advance is short term building finance for self-builders and renovators who need money to fund the building of their new home but who will not require long term borrowing on it.
Advance is more flexible than anything else on the market and gives excellent value for money.
The benefits of Advance
- Advance assists self-builders who prefer to remain in their current house while their new home is being built, saving money and inconvenience
- Advance is more flexible than anything else on the market and gives excellent value for money - it enables a wide range of self-builders to take advantage
- With Advance you can borrow for up to three years but you can repay your Advance loan at any time without penalty
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