Copyright © LYDIAN FINANCIAL SERVICES PTY LTD 2026. All Right Reserved.
Victoria | Lydian platform, delivered in partnership with Clark Finance Group
CHANGE LOCATION
Epping is where established northern Melbourne meets the growth corridor, with older housing around the town centre and newer estates spreading north. The Northern Hospital and Pacific Epping anchor it, and it draws a steady flow of first home buyers.
Epping straddles two markets. The established parts have conventional post-war and eighties housing that finances normally. The newer estates to the north are house and land territory, which is an entirely different financing exercise.
House and land is a two-part loan: you settle the land first, then draw construction funds in stages through the build. The part that catches people out is cash flow. During construction you pay interest on what has been drawn while often still paying rent, and that combined cost climbs as the build progresses.
The other consideration in new estates is valuation at completion. If the market moves between contract and handover, or if the estate has a lot of similar stock selling at once, the completed valuation may not match what you agreed to pay. That gap is yours to cover.
Interest on drawn funds plus rent during the build. We map it out so it is not a surprise.
In estates with a lot of similar stock, the finished valuation may not match the contract. Plan for it.
The older parts finance conventionally, with the usual first home and upgrade conversations.
Whatever stage you are at, there is a path through it. Pick the one that sounds like you.
Two connected loans. The land settles first with a standard loan, then a construction facility funds the build in stages, typically slab, frame, lock-up, fit-out and completion. You pay interest only on funds drawn, so repayments start small and grow. Budget for paying that alongside rent.
The lender advances against the lower of price or valuation, so you cover the shortfall in cash. In estates where a lot of similar homes complete around the same time, this is a real risk. Keeping a buffer and having your position re-checked before completion is the practical protection.
There are grants for eligible first home buyers building or purchasing new homes, subject to price caps and eligibility criteria that change periodically. They can be worth a significant sum. It is worth checking your specific eligibility against current rules rather than relying on what applied previously.
Typically nine to eighteen months, sometimes longer. It matters because you are carrying interest and usually rent for that period, and because your finance approval will need to remain valid or be refreshed. Delays are common, so building tolerance into your budget is sensible.
Book a free consultation and we will walk you through your options, what you can borrow, and what it will cost.
Book a free consultation
Serving clients across Australia.
Authorised Representative no. 525 778
Specialist Financial Group Australian Credit Licence no. 387025
Lydian Financial Services Victoria
Suite 1/103 Grimshaw Street, Greensborough VIC 3088, Australia
Level 12, 15 Collins Street Melbourne VIC 3000, Australia
Copyright © LYDIAN FINANCIAL SERVICES PTY LTD 2026. All Right Reserved.