We’ll match your home loan to your construction requirements. Fixed price or customised build, we have a loan solution for you.
Unlike a typical lender or bank, we’ll work with you to put a personalised plan in place to help you get out of debt sooner.
Types of construction loans include:
This is a single fixed-price contract with the builder that specifies a completed property or renovation. The property is ready to live in.
Those contracts may need to include a Master Builders Guarantee or a Certified Builders Guarantee.
For a new build, the contract sometimes includes the land purchase.
The minimum deposit required for turn key contract is usually 10%.
This is a single fixed-price contract with a builder that specifies a completed property or renovation to a completely liveable and compliant condition.
The owner is responsible for completing some finishing work themselves or may have other contracts in place.
The minimum deposit required for build only contract is usually 20%.
A partial contract involves a range of sub-contracts managed by the customer or a project manager, and/or a labour only arrangement with contractor(s).
This type typically includes relocated and kitset homes. In the case of kitset and relocated homes, the lending is generally limited to the land value only, until the buildings are permanently attached.
The minimum deposit required for partial contract is usually 35%.
We’ll discuss your needs, assess your KiwiSaver and HomeStart grant entitlements, and help you select the most appropriate features and home loan rate.
Depending on your situation, this process may take anything from a few days to a couple of weeks.
We’ll prepare and submit all of the necessary documents to your nominated lender.
The lender will then assess your application to determine whether you meet their requirements. They will also confirm your income and employment, and conduct a credit check.
We’ll receive your conditional approval, also known as pre-approval, on your behalf. Conditional approval means you’ll have confidence in knowing how much you can spend and what your repayments will be.
During the security assessment, the lender may require a valuation on the property being purchased.
There are a few insurance products you will need to consider:
We’ll help customise an insurance plan to cover loan repayments if you’re unable to work or if your home if it’s damaged.
Once your home loan is unconditionally approved, a formal offer will be issued.
Loan documentation is then sent to your solicitor, who will then liaise with the lender to schedule a settlement date.
We know first hand how daunting it can be saving for a deposit for a home. To help you reach your savings goal faster, we offer free budgeting and saving advice, debt consolidation, and KiwiSaver setup.
If you’re not quite ready to purchase a home, meet with one of the team to discuss your financial situation, set some goals, and create a savings strategy.
Struggling to get a 20% deposit together? We can help. If you’re a first home buyer, you’ll only need a 10% deposit.*
To save you time, we’ll help you through the entire application, KiwiSaver, and HomeStart grant process.