ClickLoans The Online Home Loan Construction Loan

Rates and Fees verified correct on December 6th, 2016

Get the finance you need to build the home of your dreams with a ClickLoans Online Home Loan Construction Loan.

The ClickLoans Online Home Loan Construction Loan is a flexible product that gives owner-occupiers and investors access to the funds they need to build a home. Available with a fixed or variable interest rate, the loan offers flexible features such as extra repayment capabilities no ongoing fees.

Interest Rate Max Insured LVR Max LVR
Variable
4.02% p.a.
Comparison Rate
4.02% p.a.
80% 80%
Product NameClickLoans The Online Construction Loan
Interest Rate TypeVariable or Fixed
Comp Rate^ (p.a.)
Minimum Loan Amount$150,000
Maximum Loan Amount$750,000
Maximum LVR80%
Mortgage Offset AccountYes
Loan Redraw FacilityYes
Fixed Interest OptionYes
Suitable for InvestmentYes
Extra RepaymentYes
Repayment TypePrincipal & Interest

Application Fee$0
Ongoing Fees$0 p.a.
Discharge Fee$400

Pros

  • $0 redraw fee for redrawing any extra repayments made into the loan.
  • $0 ongoing admin or service fees.
  • Offset account attached, however, this account has an annual fee of $198.
  • Can be used for investment purposes.

Cons

  • Construction admin fees of $599 or $999 depending on loan size.
  • Mortgage discharge fee of $400.
  • Upfront fees of $0.

Things to consider about the ClickLoans The Online Home Loan Construction Loan

The ClickLoans The Online Home Loan Construction Loan is suited for owner-occupiers building a home to live in, or investors who need funds to construct an investment property. If you want the security of a fixed interest rate, you can lock in a competitive fixed rate for two years. However, if you prefer the flexibility of a variable interest rate, a variable rate Construction Loan is also available.

With principal and interest repayments made fortnightly or monthly, the ClickLoans The Online Home Loan Construction Loan allows up to $10,000 of additional repayments each year. The loan can also be applied for and managed conveniently online.

Features of the ClickLoans The Online Home Loan Construction Loan

  • Loan amount. The ClickLoans The Online Home Loan Construction Loan is available for loan amounts between $150,000 and $750,000.
  • Maximum loan-to-value ratio (LVR). The maximum LVR on a fixed rate owner-occupier Construction Loan from ClickLoans is , however you will need to cover the cost of lender’s mortgage insurance (LMI) if you borrow more than 80% LVR. Meanwhile, variable rate construction loans for both owner-occupiers and investors have a maximum LVR of 80%.
  • Repayments. Principal and interest loan repayments can be made on a fortnightly or monthly basis. If you can afford to make additional repayments and you want to pay off your loan sooner, up to $10,000 of additional repayments are allowed each year without incurring a penalty.
  • Construction administration fees. Due to the nature of a construction loan there are extra administration fees that are charged for loans under $250,000 which come with an additional $599 construction admin fee. Loans over $250,000 are charged an additional $999 construction admin fee on top of the other fees associated with The Online Home Loan Construction Loan from ClickLoans.
  • Free redraw facility. You also have the freedom of accessing the extra repayments you make towards your ClickLoans The Online Home Loan Construction Loan through a fee-free redraw facility.
  • Offset account. The ClickLoans The Online Home Loan Construction Loan features a 100% offset account, which allows you to reduce the amount of interest you have to pay on your loan. However, this account does attract a $198 annual fee.
  • 100% online. This loan can be applied for and managed online – there’s no need to visit a branch. The application process takes about 30 minutes and your ID can also be verified electronically.

Fees

Fees you can avoid

  • Ongoing fee: $0. There are no monthly account-keeping fees charged on the ClickLoans The Online Home Loan Construction Loan.
  • Redraw fee: $0. You will not have to pay a fee when you redraw from your loan repayments.
  • Extra repayment fee: $0. You can make up to $10,000 of additional repayments each year on fixed or variable rate loans without incurring any fees.

Fees you can’t avoid

  • Upfront fees: $0. These charges cover the cost of preparing your loan documents and establishing your ClickLoans The Online Home Loan Construction Loan.
  • Discharge fee: $400. This fee must be paid when you pay out your loan.
  • Offset account annual fee: $198. Although the offset account allows you to reduce the amount of interest you pay, it does come with this annual fee.
  • Construction admin fees: loans<$250k-$599, loans>$250k-$999. These are charged for the extra administration involved in a construction loan.

How to apply for the ClickLoans The Online Home Loan Construction Loan

If the ClickLoans The Online Home Loan Construction Loan sounds right for you, click the ‘Go to site’ link on this page and you will be securely redirected to the ClickLoans website. There, you can get in touch with ClickLoans directly if you want to find out further details about the loan, or you can get started on the online application process.

If you’d like an interest rate quote, fill out an online form with:

  • The purpose of the loan
  • How much you wish to borrow
  • Your preferred repayment method
  • Information about your credit history
  • Whether you’re a PAYG employee or self-employed
  • Your email address and phone number

Once you’ve received a quote you can then decide whether or not to proceed with your application. If you do want to apply for the ClickLoans The Online Home Loan Construction Loan you will need to provide:

  • Your full name
  • Your date of birth
  • Valid proof of ID
  • Proof of your income and employment details
  • Information about any assets you own, for example shares
  • Details of any liabilities and ongoing expenses you have
  • Further details about your construction project

The ClickLoans The Online Home Loan Construction Loan offers flexible finance to help you build your own home or an investment property. Compare it with other construction loans so that you can make an informed choice about the best loan for your needs.

ClickLoans The Online Home Loan Construction Loan Interest Rate History vs RBA Cash Rate Graph

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This page was last modified on 10 March 2016 at 16:37.

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ClickLoans The Online Construction Loan

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $0 / $0

  • Max LVR

    80%

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