The exact amount you can borrow depends on your ability to repay, the value of the land and plans, and your deposit. Contact us to find out how much you can borrow.

How does it work?

• Before you start, you’ll need to get a valuation that shows how much the home will be worth when it is completed.  That helps us determine how much you can borrow.
• Your loan is approved for the full amount, but you draw it down in instalments as the building work progresses (your building contract will set out a payment schedule).
• At each stage you’ll need to have the work certified as completed to a certain value – if you’re using an architect or designer to manage the project they will usually do this.  You may also need to have interim valuations done at each stage – we can advise whether this is required or not.
• You use your deposit first to make the progress payments, and then you start drawing down your loan.

What documents do we need?
Before building begins we’ll need to see:

• The Sale and Purchase Agreement for the land
• A Registered Valuer’s report of the estimated value of the finished home based on the plans
• A copy of the plans
• A copy of the building contract
• A copy of the building consent and any resource consents.

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The content on our site is for information only. You should obtain professional advice relevant to your circumstances. Our lending criteria, terms, conditions and fees apply to all loans. For borrowing over 80% of a property’s value, a low equity premium on a graduated scale will apply. Contact us for more details.