Finance requirements at a glance
REQUIREMENT
APPLIES TO
PROVIDED BY
TIMING
Before or at the time of signing your Building Contract
Pre-Approval
Finance customers
Lender
Issued between pre-approval and unconditional approval to outline the loan requirements Once your Building Contract is signed and HOW insurance is received from your Pre-Construction CSC Issued each time a post-contract variation is raised listing the current build total. Finance customers must send to their broker or lender Sent after all Studio selections and quotes are signed off. Must be sent to broker or lender
Conditional Loan Approval
Finance customers
Lender
5% Deposit
All customers
You
Interim Reconciliation
All customers
Clarendon Homes
Bank Pack
Finance customers
Finance Liaison
Unconditional Loan Approval
Must be in place before construction can begin
Finance customers
Lender
Issued when construction of your home is ready to start to outline your final build total
Final Reconciliation
All customers
Pre-Con CSC
Must be provided before construction can begin
Proof of Funds
Self-funded or shortfall
You
Payments due during construction, based on the progress payment schedule
Progress Payments
All customers
You / Lender
Don’t forget! If you choose to finance through Loan Market Elevate, they will manage the process for you. Their team of construction finance specialists will work directly with your lender and our team. They will also connect you with the right lender while steering you away from those that are known to cause delays.
Call 13 63 93 | Clarendon.com.au
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