UBS Building Loans are used to finance your construction outlays. The building loan is utilized on a current account basis (special construction account) in line with construction costs incurred up to a contractually agreed credit limit. The interest rate is variable, i.e. it is subject to adjustment at any time. Interest and commission fees are charged and debited to the construction account at the end of each quarter. The building loan can be terminated by either party at any time without notice. Once the construction work has been completed the building loan is repaid, generally by consolidation into a mortgage. The loan is secured by a real-estate lien on the building site.