Our building loan option

Topping up 

If you have enough equity to borrow the full building amount up front, then you may be able to top up (increase) your current St.George home loan. 

Your equity is your land/property’s current market value (the security), less your existing loan limit. A top up might suit small to medium renovations, and you can hold the funds in your offset account until you need to pay your builder or other tradies. 

Our building option 

If you don’t have enough equity to borrow the full amount up front, our building option can allow you to draw down in stages as the security value of the property increases.  

Request a call back

• For a house & land package, your first drawdown would be for the block of land, and subsequent progress drawdowns would be for each stage of the build.
• Just buying land with no building contract? You can apply online for a regular St.George home loan without a building option. 
• Looking to switch your existing land loan with another lender to St.George? Apply to refinance today.

Available on our Standard Variable Rate Home Loan, whether it’s owner occupier, investment, packaged or non-packaged.

Even better, there’s no fee to add the building option.

It’ll depend on a few things, like whether you’re building an investment property, the type of contract you have with your Contract Builder or if you’re an Owner Builder. Your home loan expert can fill you in on how much deposit you need.

Request a call back

Here’s a summary, but you’ll find everything you need to know in our building option guide.
 

1. Apply now

Submit your Standard Variable Rate Home Loan application online in as little as 20 minutes. You'll be assigned a home loan expert who’ll call you to chat about your home loan needs, including our building option and other home loan features.
 

2. For our valuation, we’ll need:

• Council or Private Certified Approved Plans and specs (or a copy of yet-to-be approved/submitted plans for Council approval)
• Your fully-itemised tender/contract.
   

3. If your loan is fully-approved: 

• Your Loan Agreement will include your Progress Payment Calculation Schedule, and Progress Payment application forms.
• You’ll also receive 3 documents for your builder, including a Builder’s Copy of the Progress Payment Schedule.
   

4. Once you sign and return your loan documents:

We’ll let you know when building can start.