Add value to your home
Well-planned improvements may lift your property’s value, depending on the work and market conditions.
RENOVATE WITH A PLAN
Renovation loans in Brisbane.
Love where you live.
Fund it the right way.
From a new kitchen to a full extension, the right finance keeps your project and your budget on track. We help you compare renovation loans, equity options and lender requirements from our panel. Personal guidance from Ausfirst Lending Group’s mortgage brokers in Brisbane and on the Sunshine Coast.
Excellent · 35 Google reviews
Renovate with confidence.Let’s match the loan to the project.
BUDGETfirst, then
build.
build.
40+Lenders on our panel
30+ yearsRichard’s broking experience
$0Broker fee for home loans
Local careBrisbane & Sunshine Coast
WHAT ARE RENOVATION LOANS?
Finance built around
your project.
A renovation loan funds home improvements, from cosmetic updates to structural changes and extensions. Many are structured around the costs and timeline of the work, rather than a single lump sum.
Make it work for how you live
Update your home’s layout, comfort and function without the cost and disruption of moving.
Pay as the work progresses
Construction loans release funds in stages, which can help you manage cash flow through major works.
Still getting quotes? That’s a good time to talk. Knowing your borrowing position helps you set a realistic budget.
Start with a free chatWAYS TO FUND YOUR RENOVATION
Match the loan
to the size of the job.
The right option depends on the scope of your project, your equity and your budget. We explain the trade-offs of each.
Construction loan
For major renovations or rebuilds. Funds are released in stages as work is completed, with lender sign-off at each stage.
Home loan top-up
Increase your existing mortgage using available equity. Often a lower rate than unsecured borrowing, with higher repayments to plan for.
Refinancing
Replace your current loan with a new one that releases equity, and potentially gain a sharper rate or better features at the same time.
Line of credit
Draw on your equity as you need it, similar to a credit card. Useful when costs land over time, but it needs discipline.
Personal loan or redraw
For smaller, non-structural jobs like a kitchen or bathroom refresh. If you’ve made extra repayments, redraw may cover it instead.
A QUICK COMPARISON
Personal loan, or your equity?
| What you compare | Personal loan | Using equity |
|---|---|---|
| Project size | Smaller upgrades | Small to major works |
| Interest rate | Usually higher | Often lower |
| Loan term | Shorter | Longer, more interest over time |
| Security | Usually unsecured | Secured by your home |
Rates, limits and terms depend on the lender and your circumstances. Spreading costs over a home loan term can increase the total interest you pay.
Compare my renovation optionsCAN I USE EQUITY TO RENOVATE?
Your home may already
hold your budget.
Equity is your home’s current value minus what you owe. Lenders typically let you borrow up to 80% of the value, less your loan balance. That’s your usable equity.
On an $800,000 home with $400,000 owing, total equity is $400,000, but usable equity is around $240,000. Borrowing above 80% may be possible with LMI, at extra cost.
- Top up your existing home loan
- Refinance and release equity
- Set up a line of credit
- Check the impact on your repayments first
YOUR EQUITY, AT A GLANCE
How much equity could you use?
$100k$3m
Illustrative usable equity$240,000
Total equity$400,000
Illustration only, not a borrowing assessment. Based on your estimated value; the lender’s valuation may differ. Above 80%, LMI usually applies. Your income and expenses also determine how much you can borrow.
Check my actual optionsBEFORE YOU COMMIT
Plan for the risks,
not just the reno.
Renovation finance adds to your debt and your repayments. We help you test the budget, allow for overruns and choose a structure you can comfortably carry.
AVOID COMMON BUDGET MISTAKES
Build a buffer into your budget.
Renovation costs often run over estimates because of hidden issues, price changes or delays. A contingency buffer helps you finish the job without scrambling for extra funds.
Get detailed quotes, confirm council requirements early and know what your repayments will be before work starts.
More debt, more interest
Borrowing more raises your monthly repayments. Extending your mortgage or using a personal loan can also increase the interest you pay over time.
We show you the repayment impact before you apply.
Lender criteria and the market
Some lenders apply stricter criteria to properties undergoing major structural work. And while renovations can add value, market changes can affect your return.
We match your project to lenders whose policies suit it.
Lender policies, LVR limits and fees vary and can change. Confirm current requirements with your lender before starting work.
Let’s pressure-test your budget. We’ll compare options and show what each means for your repayments.
Check my next stepsHOW TO APPLY
What lenders need
for a renovation loan.
A well-prepared application can make approval smoother. Requirements vary by lender and by the scale of your project.
Borrowing capacity
Income, expenses, existing debts and credit history set how much you can borrow and repay.
Proof of income
Recent payslips, tax returns or bank statements showing steady income.
Plans and contracts
Builder contracts and detailed renovation plans, especially for major or structural works.
Council permits
Relevant council approvals for structural modifications or extensions.
THE RIGHT STRUCTURE MATTERS
Structure your loan
around the build.
How funds are released matters as much as the rate. We help you choose a structure that fits your project timeline and budget.
Construction loans
Progress payments released at each build stage. You typically pay interest only on what’s been drawn.
Home loan top-ups
Add to your existing loan in one step. Your repayments rise with the larger balance.
Line of credit
Draw funds as invoices arrive, up to an approved limit. Rates can be higher than a standard home loan.
Personal loans
A lump sum for non-structural upgrades, with a shorter term and usually a higher rate.
Renovating an investment property or adding a granny flat? We’ll talk through the extra lending considerations.
Talk about my projectFROM FIRST CHAT TO FIRST TRADIE
Six steps.
One team beside you.
We explain each stage, prepare the application with you and keep you informed until your funds are available.
UNDERSTAND
Talk through your renovation plans
Meet by phone, Zoom or in person. Tell us about the project, your quotes and your timeline.
GATHER
Build a clear picture of your finances
We collect income documents, loan details and project paperwork, and estimate your usable equity.
ANALYSE & PLAN
Choose the right funding structure
We compare construction loans, top-ups, refinancing and other options against your budget and repayments.
APPLY
Prepare and lodge your application
We submit your application with plans, contracts and approvals, and liaise with the lender on valuation.
FINALISE
Settle and access your funds
Funds are released as a lump sum or in stages, depending on your loan. We keep you informed throughout.
SUPPORT
Review your loan after the work
Once the renovation is done, your property value may have changed. We review your loan as your needs evolve.
Richard LukeFounder · Ausfirst Lending Group
WHAT MAKES AUSFIRST DIFFERENT
Your renovation is personal.
Your broker should be, too.
You’re looked after by someone who treats your financial success as his own.
Richard brings more than 30 years of hands-on broking experience. He takes the time to understand your renovation plans, finances and long-term goals before comparing options from our panel.
Whether it’s a kitchen update, a major extension or improving an investment property, you get clear advice, regular updates and the same team from application to settlement.
Personal attentionClear communication2024 Sunshine Coast Business Awards finalist
Talk to a broker
More about RichardWHAT OUR CLIENTS SAY
Good people.
Great support.
ExcellentBased on 35 Google reviews
Google review
“I would describe Richard and Ausfirst Lending as friendly, insightful, prompt and diligent. A pleasure to deal with.”
Google review
“Debbie made the process of buying a new house frictionless, by providing excellent support throughout”
Google review
“I received very prompt responses to all of my questions and the team ensured that my application was processed in a timely manner. The service was brilliant!”
Excerpts from client reviews displayed on Ausfirst’s website. These reflect individual experiences.
LET’S CLEAR THINGS UP
Renovation loans.
Real questions.
The questions we’re asked most about funding renovations. Your circumstances matter, so we’re happy to talk through the detail.
Ask about my projectCan renovations be financed with a loan?
Yes. Smaller upgrades may suit a personal loan. Larger projects are often funded with a construction loan, a home loan top-up or refinancing. If you’ve made extra repayments, redraw may cover the cost instead.
Which loan is best for a house renovation?
It depends on the size of the project and your finances. Construction loans suit major structural work because funds are released in stages. Personal loans can be quicker for smaller jobs. If you have equity, a top-up or refinance may offer a lower rate and more flexible repayments.
Will banks lend money for renovations?
Many lenders offer construction loans for larger projects and personal loans for smaller ones. Eligibility and requirements vary, and some lenders are stricter on major structural work.
How much can I borrow for a renovation?
It depends on your property value, loan balance, income and borrowing capacity. Using equity, many lenders allow up to 80% of your property’s value less what you owe, or more with LMI. Personal loans are often between $5,000 and $50,000, subject to the lender’s assessment.
Can I use equity to renovate?
Often, yes. Equity is your property’s value minus your mortgage balance. Depending on the lender, you can access it through a home loan top-up, refinancing or a line of credit.
Is it a good idea to use equity for renovations?
It can be cost-effective, as home loan rates are often lower than personal loan or credit card rates. But a larger balance means higher repayments, so consider your long-term position and whether the work is likely to add value.
How do I unlock equity for renovations?
A top-up increases your existing mortgage, refinancing replaces your loan and releases extra funds, and a line of credit gives flexible access to equity. The right option depends on your finances and project.
Can I refinance to pay for renovations?
Yes. Refinancing can release equity and may also improve your rate or loan features. Weigh any break, discharge and setup fees against the benefits first.
Learn more about refinancingLET’S MAKE A START
Your renovation
starts with a plan.
You don’t need final quotes to get started. Tell us about your project, and we’ll help you understand your borrowing position, equity and the right way to fund it.
A clear look at your usable equity
Loan structures and repayments compared
Personal guidance from an experienced team
Visit us in Caloundra
Suite 3/74 Bulcock St, Caloundra QLD 4551
Monday–Friday, 9 am–5 pm
YOUR FREE RENOVATION CHAT
Tell us about your renovation.
Send our team a little about your plans.
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