House & Land Packages | Double Bay Mortgage Broker - Your Double Bay Mortgage Broker

What Is a House & Land Package?

A house and land package is one of the most popular ways to buy a new home in Australia. It combines the purchase of a block of land with a contract to build a new home on that land, often through a project home builder. The appeal is clear: you get a fixed price package, a brand new property, and in many cases, a turnkey solution where everything is included and managed from start to finish.

At Double Bay Mortgage Broker, we work with residents in Double Bay and across Australia to help them understand how house and land package finance works and how to access home loan options from banks and lenders across Australia that suit their situation.

How the Finance Works

Financing a house and land package is different from buying an established home. Because there are two separate contracts involved, the finance is also structured differently. The land component typically settles first, meaning you need to pay the house land deposit and cover any stamp duty obligations on the land at that point. It is worth noting that house land stamp duty concessions may apply depending on your state, so it is worth understanding the rules in your location.

Once the land has settled, a construction loan is used to fund the build. Rather than receiving the full loan amount upfront, funds are released in stages as the builder completes each phase of construction. During this period, you generally only pay interest on the amount drawn down, which can help manage your cash flow while the home is being built.

Fixed and Variable Interest Rate Options

When it comes to your interest rate, you will typically have the choice between a variable interest rate and a fixed interest rate. A variable interest rate moves with the market, while a fixed interest rate locks in your repayments for a set period. Each option has its own advantages depending on your financial situation and how long your build is expected to take. At Double Bay Mortgage Broker, we help you compare options across multiple lenders so you can make an informed decision.

Who Can Benefit

A house and land package suits a wide range of buyers. First home buyers may be eligible for the First Home Owner Grant (FHOG), which can provide a meaningful contribution toward the cost of a new build. The FHOG is generally available on new homes and is worth exploring early in the process. Investors looking at a new home package may also find advantages in depreciation benefits and the appeal of a brand new property to prospective tenants.

Whether you are drawn to the idea of a turnkey home where everything is ready to move into, or you want to customise your build through a house land builder and a house land contract, Double Bay Mortgage Broker can help you understand your borrowing capacity and explore package finance options that work for your goals.

The Simple Steps

Initial Consultation

Your journey begins with a conversation about your property goals - whether you're purchasing a home, investing, refinancing, or seeking another type of loan. Our Finance & Mortgage Brokers explain the overall loan application process, assess your financial position, and begin identifying suitable loan options from a wide panel of banks and lenders across Australia.

Financial Assessment

Your broker conducts a detailed review of your finances, including income, expenses, assets, liabilities and savings. They determine your borrowing capacity and explain key terms like loan-to-value ratio (LVR), lenders mortgage insurance (LMI), and any government schemes or discounts you may be eligible for.

Loan Comparison & Selection

With a clear understanding of your financial situation, our Finance & Mortgage Brokers research and compare a range of loan options. These may include fixed or variable interest rate loans, products with offset accounts, or flexible repayment features. Our brokers help you weigh the pros and cons of each loan, ensuring you choose the one that aligns best with your needs and preferences.

Loan Pre-Approval

Securing loan pre-approval provides a clear idea of how much you can borrow and strengthens your position in the property market. Your broker prepares and submits the required documents - such as payslips, tax returns, and bank statements - to the lender for assessment. Pre-approval also gives you confidence to make offers when you find the right property.

Formal Loan Application

Once you've chosen your preferred loan, your broker completes and submits the formal application to the lender. They manage all required documentation, respond to any queries from the lender, and keep you informed throughout the process to avoid unnecessary delays.

Loan Approval & Settlement Preparation

After your loan is formally approved, our brokers review the loan agreement with you and confirm that all terms - such as interest rate, fees, and repayment schedule - are clear and understood. They also help you set up your loan account and arrange any necessary insurance, such as mortgage or home loan protection.

Settlement & Ongoing Support

At settlement, the lender advances the funds and ownership of the property is transferred to you. Our brokers coordinate with your solicitor or conveyancer to ensure everything runs smoothly. After settlement, our Finance & Mortgage Brokers remain available for ongoing support - whether it's managing repayments, exploring refinancing opportunities, or helping with future property plans.

Mortgage broker reviewing house and land package loan documents with a client in Double Bay

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Why House & Land Packages Appeal to So Many Buyers

There is a lot to like about a house and land package when you are thinking about buying a home. The fixed price nature of many package deals means you know upfront what you are committing to, which makes budgeting far more manageable than renovating an older property or bidding at auction. A display home package or project home package from an established builder can give you a clear picture of exactly what your new home will look like before a single slab is poured.

For those who value certainty, a turnkey home takes things a step further. With a turnkey solution, the property is fully completed before you take ownership, meaning everything from flooring to landscaping is included. This hassle-free approach is particularly popular with buyers who want a new home without the complexity of managing a build themselves.

At Double Bay Mortgage Broker, we understand that the finance side of a house and land package can feel unfamiliar, especially if you have only ever purchased established properties before. The loan to value ratio (LVR) is an important factor in determining how much you can borrow and whether lenders mortgage insurance applies to your loan. We help you understand how your LVR is calculated across both the land and construction components of your package finance.

We also help buyers explore options such as the 5% Deposit Scheme and guarantor loans, which may reduce the deposit required to get into a new build sooner. House land grants such as the FHOG can also be factored into your planning, and we can help you understand what you may be eligible for based on your circumstances.

Double Bay Mortgage Broker works with a broad panel of banks and lenders, which means we can compare house land finance options across the market to find a structure that suits your timeline, your deposit, and your long-term goals. Whether you are looking at your first new home or adding to a property portfolio, we are here to help you move forward with confidence.

Hear From Our Clients

Frequently Asked QuestionsOur Client Reviews

Nick and the team at Azura Financial exceeded our expectations at every step. Their guidance was clear, their expertise was evident, and they handled every financial detail with care — giving us complete peace of mind throughout the process. We couldn't have asked for a better team by our side. Thank you very much, V&V.

Van Tran

As a founder, getting a mortgage requires a couple more hoops to jump through, which is why I couldn't recommend Nick O'Sullivan and the Azura team more highly. Not only were they able to offer a seamless process, but Nick was also patient with us as we changed our minds about when to buy (over a period of years!). The truth is anyone can approach a bank and get a mortgage, but when things don't go perfectly (e.g. abrupt government changes), that's when you want a pro on your team like Nick.

Shaun Cunningham

As a first home buyer, Carl and the team at Azura were incredibly helpful throughout the whole process. They made everything feel straightforward and were always there to answer any questions along the way. I’ve already recommended them to friends and would highly recommend them to anyone looking to get a mortgage!

sarah ander

Your Questions Answered

Frequently Asked Questions

Why choose Double Bay Mortgage Broker over a broker based elsewhere?

Choosing a local broker means working with someone who genuinely understands the Double Bay area, the types of properties here, and the people who live and invest in this community. We are not a call centre or a faceless online service. We are a local business that takes pride in building real relationships with our clients. When you work with Double Bay Mortgage Broker, you get personalised service from someone who is invested in your outcome. We are accessible, we communicate clearly, and we are here for the long term. Many of our clients come back to us when their circumstances change, and that kind of ongoing relationship is something we value deeply.

Can Double Bay Mortgage Broker help if I am self-employed?

Yes, we work with self-employed clients regularly. Getting a home loan when you are self-employed can be more involved than a standard application because lenders assess income differently for business owners. Some lenders require two years of tax returns, while others offer what are known as low-doc loans, which require less documentation but may come with different conditions. At Double Bay Mortgage Broker, we understand how to present a self-employed application in a way that gives it the strongest possible chance of being assessed fairly. We will take the time to understand how your income works and match you with lenders who are well suited to your type of borrowing situation.

What documents will I need to provide?

The documents required will depend on your individual circumstances, but as a general guide, most lenders will want to see proof of identity, recent payslips or tax returns, bank statements, details of any existing debts or liabilities, and information about the property you are looking to purchase or refinance. If you are self-employed, you may need to provide additional documentation such as business financial statements or BAS statements. At Double Bay Mortgage Broker, we will give you a clear checklist of what is needed for your specific situation so you are not scrambling to pull things together at the last minute. Being organised early can help keep the process on track.

How long does the home loan process take?

The timeline can vary depending on a number of factors, including the lender you go with, the complexity of your application, and how quickly documents are provided. In general, once we have everything we need from you, a straightforward application can take anywhere from a few days to a few weeks to receive formal approval. At Double Bay Mortgage Broker, we work to keep things moving as efficiently as possible and keep you updated along the way. We know that waiting for news on something as important as a home loan can be stressful, so we make it a priority to stay in regular contact and answer your questions promptly.

What is refinancing and how do I know if it is worth looking into?

Refinancing means replacing your existing home loan with a new one, either with your current lender or a different one. People refinance for a number of reasons, including accessing equity in their property, consolidating debts, changing their loan structure, or simply reviewing whether their current loan still suits their needs. At Double Bay Mortgage Broker, we can review your existing loan and compare it against what else is available in the market. We will give you an honest assessment of whether refinancing makes sense for your situation. There are costs involved in refinancing, such as exit fees or application fees, and we will make sure you understand these before making any decisions.

I am a first home buyer. Can Double Bay Mortgage Broker help me?

Absolutely. Buying your first home is one of the biggest financial decisions you will ever make, and it can feel overwhelming when you are not sure where to start. At Double Bay Mortgage Broker, we work with first home buyers regularly and understand the questions and concerns that come with it. We will walk you through the process from start to finish, explain the different loan options available to you, and help you understand what government grants or schemes you may be eligible to apply for, such as the First Home Owner Grant. We want you to feel informed and confident at every stage, not left in the dark.

What types of loans can Double Bay Mortgage Broker help with?

We help clients with a wide range of lending needs. This includes home loans for owner-occupiers, investment property loans, refinancing existing loans, construction loans, and loans for self-employed borrowers. We also assist with commercial finance and asset finance depending on your situation. Whether you are buying your first home in Double Bay, looking to grow a property portfolio, or wanting to review your current loan to see if there is a more suitable option out there, we are here to help. Every client has a different set of circumstances, and we take the time to understand yours before recommending any course of action.

How much does it cost to use Double Bay Mortgage Broker?

In most cases, our service comes at no direct cost to you. Mortgage brokers in Australia are typically paid a commission by the lender once a loan settles. This means you can access our knowledge and support without paying out of pocket. We are upfront about how we are paid and will always explain this to you clearly before we get started. There are some situations where a fee may apply, and if that is the case, we will let you know well in advance so there are no surprises. Transparency is something we take seriously at Double Bay Mortgage Broker.

Why should I use a mortgage broker instead of going directly to my bank?

When you go directly to your bank, you only see what that one lender has to offer. A mortgage broker like Double Bay Mortgage Broker has access to a broad panel of lenders, which means we can present you with a wider range of options. Your bank is focused on selling its own products, whereas we are focused on finding the right fit for your circumstances. We also know how different lenders assess applications, which means we can help you put your best foot forward. For residents in Double Bay, having someone local who understands the property market in this area can make a real difference.

What does a mortgage broker actually do?

A mortgage broker acts as the go-between for you and a range of lenders. Rather than you having to approach each bank or lender on your own, a mortgage broker does the legwork for you. At Double Bay Mortgage Broker, we look at your financial situation, understand what you are trying to achieve, and then search through a wide panel of lenders to find options that suit your needs. We handle the paperwork, liaise with lenders on your behalf, and guide you through each step of the process. It is our job to make sure you understand what you are signing up for before you commit to anything.

House & Land Package Finance in Double Bay

Access home loan options from banks and lenders across Australia for your new home package