Everything remains the same as a normal home loan scenario.

You will contract with the builder directly and also with Tradies Finance as a HomePay partner lender for your home loan (who offer market competitive rates!) – You won’t need to contract with HomePay at all.

And is HomePay really free you ask? 100% free in fact. HomePay charges our builders auditing fees to enable our team to continue to audit their business to ensure their performance and build times. This enables us to keep our service free so that you won’t be charged anything by HomePay, ever!

What a good problem to have! And this does happen to clients of HomePay accredited builders with our 2023 average under this timeframe! Currently the maximum allowable build timeframe before repayments are required is between 12 months from loan settlement.
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In this scenario, you can either wait until your timeframe is finished to then begin repayments or you can start making repayments early. You remain in control and your HomePay loan Specialist or HomePay Accredited mortgage broker can advise you on this.

No problem, HomePay is happy to include your build in our review framework with builders but we require you to submit your details to us before engaging a builder directly. This ensures we can keep across the builder and the progress of your build. You can do that here.

While you will get updates directly from your builder, in the background HomePay are also reviewing the status of all HomePay builds underway with all accredited builders to ensure they progress as efficiently as possible.

We only review builds that we know about so if you have gone directly to a builder or broker we recommend letting us know immediately about your build so we can add it to our review platform with the accredited builder. There is no additional cost for this.

Click on this link to let us know.

Currently the maximum allowable build timeframe before repayments are required is 12 months from loan settlement. If your house is not completed within this timeframe you will then be required to start repayments on your home loan as normal.

While the potential for delays exists, HomePay’s in depth auditing process ensures that our accredited builders have a proven history of being able to deliver builds within this timeframe, mitigating this risk to the greatest extent possible for you.

The proof is in the pudding with our 2023 build time average coming in under this timeframe for all of our accredited builders.

Importantly HomePay requires our builders to pay penalties to clients for all builds that go over this timeframe. Given your contract is directly between you and your builder we advise you to confirm this clause is contained in your contract with your builder before signing.

Please note that delays for normal items such as weather etc will not be included in this timeframe as there are some things that even a HomePay accredited builder cannot control!

Respond to all requests from your HomePay accredited builder as quickly as possible such as choosing your selections (tap wear, colours, etc) efficiently. Put in the effort up front to prevent the need for any post contract variations.

No, HomePay does not function as a financial lender, nor do they provide financial advice. Instead, they facilitate access to a “Build Now, Pay Later” loan product through trusted financial lenders like Tradies Finance. Tradies Finance offer this unique loan product with market competitive rates only to HomePay clients as a result of HomePay’s stringent builder selection process.

The construction industry has been incredibly volatile since COVID with many builders becoming insolvent or having extensive build delays. This is a great risk to lenders.

Non-HomePay lenders do not have access to HomePay’s builder assessment framework that connects HomePay clients with builders that are financially stable and capable of completing builds in a timely manner.

This precautionary measure aligns with the objectives of our financial lenders, who seek to avoid potential risks associated with insolvency or prolonged construction timelines.

No, as often the devil is in the detail.

As of 2024 limited other products promote a build now, pay later concept. These products are often limited to a handful of builds in pre-defined developments and are limited to a specific builder who has not been through the HomePay accreditation process.

Loan interest rates may also not be competitive and often the delay in repayments only cover the construction cost, but what about the land!

HomePay delays repayments for both the construction and land loan which makes a big difference in what you need to fund out of your pocket during the build.

Easy– click on the “get started” button below and fill out the enquiry form.

You can select to just get further information or to be contacted by us. If so, we will be in touch to recommend HomePay accredited builders available in your area and also a HomePay loan Specialist if you require one who can take you through the loan process in detail and answer any questions you may have.

You can also see the steps in the HomePay process here..

Get Started

Tradies Finance offer loans up to approximately 92% LVR but this will be dependent on your individual financial situation and whether you plan to live in the property or if it is an investment. You can also use other incentives to reduce your deposit such as First Home Owner Grants.

HomePay doesn’t provide financial advice so your HomePay loan Specialist will advise you on exactly how much money you will need based on the estimated price of your home and some strategies you can use to help obtain your deposit.

No, HomePay is only available with standard designs offered by our accredited builders.

This is one of the ways HomePay accredited builders help minimise build times and ensure quality as they have been able to deliver these designs efficiently elsewhere.

HomePay accredited builders have a large range of professionally designed homes to choose from and to the those with a love for interior design: You will still have the ability to select colours and inclusions as normal so don’t worry!