Mortgage Broker Gold Coast

Comprehensive Credit Reporting (CCR) is a change to credit reporting by banks in Australia.  

Previously, negative credit reporting was the system Australia operated under, which was based around only making a note of negative credit events such as missed repayments or defaults, bankruptcies and court judgments.

Under the new CCR, your credit report will become more detailed and will show a more complete & clearer picture of your credit history.

Comprehensive Credit Reporting (CCR) is a change to credit reporting by banks in Australia.  

Previously, negative credit reporting was the system Australia operated under, which was based around only making a note of negative credit events such as missed repayments or defaults, bankruptcies and court judgments.

Under the new CCR, your credit report will become more detailed and will show a more complete & clearer picture of your credit history.

If you want to update your existing property or you want a house customised to your needs and preferences, building a house instead of buying one can be a good choice.

If you’re looking to do this, then a construction loan is the finance tool you need.

 

What is a construction loan?

A construction loan is a type of loan that is used to pay for the cost of building a new house or a major renovation. It has a different payment scheme than a traditional home loan because it has progressive payments or draw-downs where the lender releases funds throughout the stages of construction.