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If you are deaf, hard of hearing, or have speech/communication difficulty, choose your access option detailed on [accesshub.gov.au/about-the-nrs](accesshub.gov.au/about-the-nrs). Where English is a second language, contact us and a banker can arrange a language interpreter.  \n[Visit](Visit westpac.com.au/web-accessibility for)[ westpac.com.au/web-accessibility](Visit westpac.com.au/web-accessibility for)[ for](Visit westpac.com.au/web-accessibility for) further information on our more accessible products and services for people with disability, who are neurodivergent or where English is a second language.  \nThank you for choosing Westpac for your new Construction Loan  \nBuilding a new home is an exciting time and this brochure outlines what you need to consider:  \n• when organising your budget,  \n• when choosing a builder,  \n• to avoid budget overruns and disappointment by understanding your obligations in managing drawdowns and Builder deliverables.  \nWestpac is here to help at all times throughout your consideration and building phase.  \nPlease get in touch with our Lending specialists anytime to chat about any question or concerns you may have.  \nContents  \n1. Borrower’s guide to Westpac Construction Loans – licensed builder .................................................................... 4  \na. Choosing a builder...............................................................................................................................................................4  \nb. The Construction Loan application process...............................................................................................................4  \ni. Documents required for your Construction Loan application: ..........................................................................4  \nii. Loan assessment and approval..........................................................................................................................................4  \nc. Documents required before the first payment to be made to your builder: ..................................................4  \nd. Commencing construction and progress payments............................................................................................... 5  \ne. Progress inspections and valuations............................................................................................................................. 5  \nf. Final progress payment..................................................................................................................................................... 5  \ng. How the progress payment system works (licensed builder).............................................................................. 5  \nh. Stages of construction....................................................................................................................................................... 6  \ni. Specialist Construction requirements: Additional inspections............................................................................ 7  \n2. Borrower’s Guide to Westpac Construction Loans – owner builder ....................................................................... 7  \na. Documents required for your Owner Builder application..................................................................................... 7  \nb. Purchasing materials while you’re building................................................................................................................ 7  \nc. Requesting progress payments...........................................","cbCainvYa22pq3d3","https://ap.wps.com/l/cbCainvYa22pq3d3","pdf",448608,10,"English","# Borrower’s guide to Westpac Construction Loans – licensed builder\n## Choosing a builder\n## The Construction Loan application process\n## Documents required for your Construction Loan application\n## Loan assessment and approval\n## Documents required before the first payment to be made to your builder\n## Commencing construction and progress payments\n## Progress inspections and valuations\n## Final progress payment\n## How the progress payment system works (licensed builder)\n## Stages of construction\n## Specialist Construction requirements: Additional inspections\n# Borrower’s Guide to Westpac Construction Loans – owner builder\n## Documents required for your Owner Builder application\n## Purchasing materials while you’re building\n## Requesting progress payments\n## The final progress payment\n# Additional information\n## Changes to original scope of work\n## Change of Builder\n# Contact us","[{\"question\":\"What should borrowers do first when preparing for a Westpac construction loan?\",\"answer\":\"Plan your budget and take time selecting both the design and the builder. If using your own plans, seek quotes from several licensed builders using the same documents.\"},{\"question\":\"What documents are needed for a licensed builder construction loan application?\",\"answer\":\"The guide lists specific documents required for the Construction Loan application, then describes the steps for loan assessment and approval.\"},{\"question\":\"How do progress payments work during construction?\",\"answer\":\"Progress payments depend on managing drawdowns and builder deliverables, supported by progress inspections and valuations. The guide also explains the stages of construction and requirements for specialist inspections.\"}]","Guide to Westpac Residential Construction Loans - Construction Loan guide | PDF",1790385065]