ANZ - Construction Loan

Hi All,

I have applied for construction loan with ANZ on Jan 11th . The manager took a week to submit my file to his back office . And then on 25th Jan the loan was approved. I think in between the property was valued as well. I signed the loan documents on 29th June. Still waiting for the ACC certificate. It hasbeen escalated to the back office multiple times still no response.

What is the average timeline to get the ACC ( Authority to Commence Construction ) certificate after signing the loan documents ?

 

Usually a few days after settlement once all docs have been provided.

First step is settlement of the loan and then its obtaining the ACC.

Best to see where you're at with settlement. This can be delayed for all sorts of reasons (land registration is a common one).

 

I have provided all the documents and I have signed construction loan documents as well. In regards to land its been settled long ago and have been paying interest from 4 months. Without ACC from bank my builder will not go ahead with the constructions activities.

 

You have provided the builders insurance, council approved plans and public liability insurance to the banks progress payment team? You’d usually get an ACC within a week or so of providing that.

You could provide those same docs with the first invoice and it won’t delay anything, again usually paid within a week or so.

 

Thanks Guys, finally received the ACC today morning.