When an off-the-plan purchase reaches completion, the lender assesses the loan again.
- Indicative assessment within 2 business days, with settlement typically 1 to 4 weeks after that
- Loans from $100K to $2M for apartments, townhouses and houses bought off the plan
- Owner-occupiers, and individuals buying an investment property in their own name
- Valuation gaps, lapsed pre-approvals, changed income and a new lender for completion
- Full-doc (tax returns), low-doc or alt-doc (BAS, bank statements or an accountant's letter instead) options across our 90+ lender panel
You signed the contract some time ago, often a year or more. Now the plan is registered and the completion notice has arrived. The lender's valuation may come in under the price you agreed. Your income, your debts or interest rates may have changed, and lending rules may have shifted too. Off-the-plan settlement finance is a home loan for paying the balance at completion, assessed on where things stand today rather than on the day you exchanged. Joseph Farhat and his team work out whether there is a gap, how large it is, and which lenders suit the building and your position. Speak with your conveyancer or solicitor about the contract dates first, then bring us the numbers.
Who we can help access finance
- Owner-occupiers whose completion notice has arrived and whose pre-approval from the time of exchange has since lapsed.
- Buyers whose lender valued the finished apartment below the contract price, leaving a shortfall to cover at settlement.
- People whose income looks different from when they signed, such as a new employer, reduced hours or a move into self-employment.
- Individuals buying an off-the-plan investment in their own name who need a lender comfortable with the building and the expected rent.
- Buyers who took on a car loan, a credit card or another commitment after exchange that now counts against their borrowing capacity.
- Purchasers who used a deposit bond or bank guarantee and now need the full price funded at completion.
How Off-the-Plan Settlement Finance Works
In NSW, the deposit on an off-the-plan contract is held by the stakeholder in a trust or controlled money account, and it cannot be released to the vendor before settlement. A bank guarantee or deposit bond can be used in place of cash. Once the plan is registered, the vendor must give you the registered plan at least 21 days before settlement, and completion follows under the contract terms. NSW Fair Trading warns that finance may be needed "several months or even years after you agree to buy", and that the finished property may be worth less than you paid.
That is where the loan can change. The lender lends against its own valuation of the finished property, not the contract price, yet you are still bound to pay the full price. If the valuation is lower, the difference is yours to fund. Lenders express the loan as a loan-to-value ratio (LVR), the loan as a share of the property's value. Above 80%, lenders mortgage insurance (LMI) usually applies: a one-off cost that MoneySmart says protects the lender, not the borrower. Banks also test your repayments with a buffer of 3 percentage points above the loan rate, the level APRA confirmed on 28 May 2026, and lenders check your total debts against your income.
Joseph Farhat and his team compare valuation and building policy across 90+ bank, non-bank, and specialist lenders. We arrange finance. We are not lawyers or conveyancers, so questions about sunset dates, rescission, extensions or notices belong with your conveyancer or solicitor.
What Lenders Assess for Off-the-Plan Settlement Finance
The completion valuation
the lender's own valuer sets the figure, and that figure caps what the lender will advance.
The building and the unit
some lenders apply lower limits to small apartments, high-density towers or certain postcodes.
Your income at completion
it is verified again from current documents, and the figures from exchange do not carry over.
Serviceability
repayments tested at the loan rate plus a buffer, which is 3 percentage points at banks, after living costs and existing debts.
Debt-to-income
your total debts compared with your gross income, which banks track against an APRA limit on their own lending.
Funds to complete
money available for any gap, settlement costs and the deposit where a bond was used.
The Off-the-Plan Settlement Process: What to Expect
- Confirm the completion date and contract terms with your conveyancer or solicitor, then send Joseph Farhat and his team the contract, the completion notice and any valuation already done.
- An indicative view of what the panel is likely to lend on the property and your current position, and the size of any gap, usually follows within 2 business days.
- Your application goes to the lender whose valuation approach and building policy fit. Each credit enquiry is recorded on your file, so it goes to one lender first.
- The valuation and formal approval follow. If a shortfall remains, we set out each way of covering it and what each one costs.
- Settlement is booked with your conveyancer to meet the completion date, and the deposit held in trust is released to the vendor as part of it.
Indicative Finance Options
| Lender Type | Pricing | Max LVR | Typical Loan Range | Loan Term | Speed to Settlement |
|---|---|---|---|---|---|
| Bank | Sharpest available pricing | Up to 90% with LMI, lower on some apartments | $100K to $2M | Up to 30 years | 2 to 4 weeks |
| Non-Bank Lenders | Priced for flexibility | Up to 80%, case by case | $100K to $2M | Up to 30 years | 1 to 3 weeks |
| Private Finance | Not typically used for consumer off-the-plan settlement. Available for unique scenarios only. | ||||
Indicative figures only. Actual terms depend on your circumstances, the property, and lender assessment at the time of application. We quote your rate and comparison rate for your specific loan amount and term before you apply. Terms are subject to change.
Why borrowers choose Settled With Joe for off-the-plan settlement finance
We represent you, not the lender
Joseph Farhat and his team act in your interest from the first conversation through to settlement, and on consumer credit that is a legal duty.
Any gap shown in dollars
once a valuation is in, you see the shortfall and each way of covering it, with the cost of each.
Building policy known in advance
some lenders limit certain apartment sizes and buildings, so we start with the ones that accept yours.
Your current position on the file
a new job, lower hours or new debts are disclosed from the start, so the lender assesses the full picture.
Timed with your conveyancer
the contract and the notices stay with them, and we line the finance up with the date they confirm.
One targeted application
each credit enquiry is recorded on your file, so the first lender approached is the one most likely to fit.
Private finance for unique scenarios
where bank and non-bank lenders are not the right fit, we can introduce you to private finance options.
Usually no direct cost to you
as a broker we are typically paid by the lender on settlement.
An honest answer early
once your conveyancer confirms the completion date, bring it to us and we will tell you what is realistically achievable before that date.
Frequently asked questions
What is off-the-plan settlement finance?
It is a home loan that pays the balance of an off-the-plan purchase once the building is complete and settlement is called. What differs from other home loans is timing. The lender assesses the finished property and your finances at completion, which can be well over a year after you signed, so an earlier pre-approval is only a starting point.
Will applying affect my credit score?
Every application is recorded on your credit file, approved or not. Several applications in a short space of time can count against you with the next lender. We narrow the panel first, so the application goes to the lender whose policy fits the building and your income.
What is a comparison rate, and why are no rates shown on this page?
A comparison rate rolls the interest rate and most standard fees into one figure, for a set loan amount and term. Without it, a low headline rate can hide establishment or ongoing fees. The figure changes with the size and length of the loan, so one printed rate would not describe yours. We give you the rate, the comparison rate and the total cost for your actual amount and term before you decide.
Do you work with borrowers with bad credit?
Yes, we do. A default, late payments or a thin credit file do not rule out a completion loan. Tell us what is on your file and we will match it to lenders that consider it. For a completion loan, lenders look closely at the valuation, your current income and how your accounts have run recently. Some lenders on our panel reflect a listing in their pricing rather than declining. Tell us at the start, so the first application goes to a lender that will consider it. Joseph Farhat and his team will give you a straight answer on what is possible before your completion date.
Do you act in my best interests?
Yes. Credit assistance on a consumer home loan carries a best interests duty under the National Credit Act, which has applied since 1 January 2021. We make reasonable enquiries into your requirements, objectives and financial situation, and we must not suggest a loan that is unsuitable for you. If our interests and yours conflict, yours come first. You receive our Credit Guide before we provide credit assistance.
What happens if the valuation is lower than the price I paid?
The contract price stays the same, so the difference is yours to cover at settlement. The usual options are another lender, whose valuer may reach a different figure (there is no guarantee it will be higher), a higher LVR with LMI, your own savings, or a contribution from family. Your conveyancer can also ask the vendor for more time. We cost each option so you can compare them.
My income has changed since I signed. Can I still get the loan?
Possibly. Lenders assess your position when you apply, not when you exchanged. A new job, fewer hours, a new business or a new debt is disclosed and assessed like any other part of the file. A lower income may mean a lower loan amount, and the difference then has to come from somewhere else. Any planned change, such as leave or part-time work, is also disclosed when you apply.
Does APRA's debt-to-income limit apply to off-the-plan loans?
From 1 February 2026, APRA has allowed banks to make up to 20% of new owner-occupied loans, and separately up to 20% of new investment loans, at a debt-to-income ratio of 6 times or more. It is a share of each bank's new lending, not a cap on any one borrower. It applies when a loan is funded, which for an off-the-plan purchase is at completion. Some new-build and bridging loans sit outside APRA's DTI limit, depending on how the lender reports them.
Can the developer end my contract under a sunset clause?
In NSW, since 2015, a developer cannot use a sunset clause to end an off-the-plan contract without the buyer's consent or an order of the NSW Supreme Court. This is in section 66ZS of the Conveyancing Act 1919, and the Court can award the buyer damages. Your solicitor or conveyancer can explain the sunset date in your contract.
Is my deposit safe until settlement?
In NSW, deposits and instalments on off-the-plan contracts must sit in a trust or controlled money account, and cannot be paid to the vendor before settlement. If a buyer cannot complete, the standard NSW contract lets the vendor terminate, keep a deposit of up to 10%, and sue for any resale shortfall or damages. So the deposit is held safely before settlement but is at risk if settlement fails.
What if I cannot settle on the completion date?
Speak with your conveyancer or solicitor first. Under the standard NSW contract, once completion is overdue a party entitled to do so can serve a notice to complete. The form states no period, and 14 days is common practice. Your conveyancer can ask the vendor about an extension, and we work to whatever date they confirm.
Why work with Settled With Joe to arrange your off-the-plan settlement finance?
Because one conversation covers the whole panel. Most people who call us about completion have a date in the notice and something they did not expect: a valuation below the price, a lapsed pre-approval or a new job. None of that is unusual to us, and there is no judgement in the conversation. What decides these loans is the completion valuation, your verified income today and the funds you hold for any gap. Our panel covers 90+ bank, non-bank, and specialist lenders, so a clean file can reach a bank at a sharper rate and a complex one still has options. We are based in Sydney and help buyers Australia-wide. Joseph Farhat and his team will tell you early and honestly what is achievable before your completion date.
Do you give financial advice?
No. We do not guide you on your finances, nor give financial advice. We focus on outcomes and solutions of presenting your unique scenario to the right lender so you can access funding in a timely and compliant manner.
Do you help with off-the-plan settlement finance outside Sydney?
Yes. Settled With Joe is based in Sydney and arranges off-the-plan settlement finance Australia-wide, covering both metro and regional areas. We work with clients in Sydney, Melbourne, Brisbane, Perth, Adelaide, and Canberra, as well as regional areas including Newcastle, Wollongong, Geelong, Gold Coast, Sunshine Coast, and Toowoomba. The contract rules on this page are the NSW rules, and each state sets its own, so a local conveyancer or solicitor confirms how yours work. Joseph Farhat and his team will match the lenders on the panel to your building and your state.
