Not sure what you can borrow?
Let us sort that out
One of the first things we all need to know when deciding on a new home is a budget.
We will get Newbuild to work with you to establish this and then you can be confident in moving forward with your home ideas
Read on and you will find there are a number of benefits to a Newbuild Construction loan over using a conventional Bank Loan.
The most important benefit is it takes the hassle away!
Being a specialist construction loan lender Newbuild have a different approach to loan’s compared with most banks. Often you have the income to pay a mortgage but have rent to pay until your home is built. Banks normally use this against you reducing the amount you can borrow. Newbuild recognise once you move into your new home you won’t be paying rent. NewBuild Home Loans, in partnership with Sovereign (part of the ASB Bank group) can secure a very competitive home loan and interest rates.
NewBuild Plan™ is specifically designed for new home construction – reducing risk and providing a complete Finance Management plan.
Professional financial management
from loan approval to hand over of your finished home
Flexible lending criteria
You may be approved with a smaller deposit than some banks require
Deferred interest payments
no mortgage to pay while your home is built
Additional funds (reserves) to cover unexpected costs necessary to complete your home
Managed progress inspections and payments
paid directly to builder so you do not have to deal with this
Cost saving systems
reducing legal and progress valuation costs
establishing third party guarantee and appropriate insurances during construction
assistance and guidance
managing documentation including Completion Certificate, Code Compliance Certificate and final handover
Competitive permanent finance options
Sovereign Home Loans Limited