Build Steps

Our team is here to guide and support you during your construction journey. Below we have outlined a brief overview of each step involved when building your brand new home with MWC Property Group.

Step 1

Prequalification and property selection
Contract signing
Finance appointment with your broker

Step 2

Bank Valuations ordered
Once your broker has the valuations back, they will review them and proceed with the loan application.
Your broker will keep obtaining updated payslips and bank statements from you as necessary.

Step 3

Finance is approved!
Your solicitor will contact you to ask you if you are happy to go “Unconditional” on the contract. You say yes and you will be home owners!
Complimentary financial planning consultation arranged, if desired.
First Home Owner Grant application is submitted (if applicable).
Mortgage documents are issued to you in the post, or electronically depending on your lender, and your broker will provide instructions and help with completing these.

Step 4

Your broker will prepare for your land settlement and liaise with you regarding what you need to do.
Colour selection and variations/upgrades finalised with your builder. (Any cost for variations or upgrades is separate to your home loan and will need to be paid in cash direct to your builder).

Step 5

Land settlement – this is generally 3‐4 weeks after finance approval. If your block is unregistered, then settlement date will be 3 weeks after notice of registration is received by your solicitor.
You now officially own your block of land – YAY!
Home loan repayments will start being deducted from your bank account.
From the land settlement date onwards, council rates and charges will apply to your block of land.
Your council will send you a rates notice at their next periodic billing date, and this is payable by you directly to the council.

Step 6

Council approval – Once land settlement occurs your builder can finalise the documents required for building approvals.
Your builder will provide the approvals and other necessary documentation to your bank, who will in turn release the deposit claim payment to your builder (if any part of the deposit invoice is payable by you, your broker will advise).
Once the payment is received, your builder can set a site start date.

Step 7

Construction ‐ 9-12 months approx. (Dependent on house size and subject to weather or trade delays).
‐ Slab Stage
‐ Frame State
‐ Enclosed Stage
‐ Fixing Stage
‐ Practical Completion – Once this claim is issued you need to purchase home insurance.
Contact your chosen electricity and internet provider to arrange connections to your new home, ready for handover day.

Step 8

Handover day! This is generally 2‐3 weeks after your final claim is issued to you. During this time your bank will inspect the house and release final payment to the builder, and the last few items and cleaning will be completed by the builder. Now you can move into your new home!
Contact lender to...
‐ Discuss the option to fix your home loan rate.
‐ Find out what amount your ongoing repayments will be.
‐ Confirm what date your repayments will be required.
Redirect your mail and update your address details to your new address to ensure you do not miss anything.

Build Steps

Step 1

Step 2

Step 3

Step 4

Step 5

Step 6

Step 7

Step 8

Disclaimer: The steps listed above are provided as a general guide only. Timeframes and steps may vary and be subject to change.

Call 1300 657 184