LJH Link Construction Loan
Variable rate
Construction loans can be used to provide finance when you are building a house, completing a major renovation or demolishing and rebuilding. It allows you to progressively draw down on the loan in stages, only paying interest on the amount drawn during the construction period.
- Interest rate a year, from
- 7.59%
- Comparison rate
- 6.99%
- Upfront fees
- $300
- Annual fee
- Not published
- Monthly fee
- Not published
Monthly repayment
$600,000 over 30 years
What it would cost
At the lowest rate of 7.59% (variable, live in, interest only). The rate you are offered depends on your deposit and the loan you choose, and upfront fees are not included.
- Monthly repayment
- $3,795
- Total repayments
- $1,966,200
- Interest
- $1,366,200
Rates
Every rate LJH publishes for this loan. LVR is the loan as a share of the property's value: 80% for a 20% deposit.
| Rate | Property | Repayments | LVR | Interest rate | Comparison rate |
|---|---|---|---|---|---|
| Variable | Live in | Interest only | Up to 80% | 7.59% | 6.99% |
| Variable | Live in | Interest only | 80% to 90% | 7.79% | 7.37% |
| Variable | Investment | Interest only | Up to 80% | 7.69% | 7.27% |
| Variable | Investment | Interest only | 80% to 90% | 7.89% | 7.56% |
Comparison rates are for an example loan of $150,000 over 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Fees and features
Fees
- Upfront fees
- $300
- Annual fee
- Not published
- Monthly fee
- Not published
Features
- Offset account
- No
- Redraw
- No
- Highest LVR
- 90%
- Loan amount
- From $50,000 up to $1,500,000
How it compares
Against the other home loans we compare, for a home you live in with a 20% deposit. Typical means the middle half of them.
Upfront fees
$300
Typical upfront fees are $600.
Smallest deposit
10%
Most loans need at least 10% of the price.
Pros and cons
Pros
- Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
- No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.
- Interest only available. Some investors use it to keep repayments down for a few years, though the balance doesn't fall in that time.
Cons
- No offset account. Your savings can't reduce the interest unless you pay them into the loan.