Are you thinking construction? Looking to build your next home?
Building a new home is an exciting opportunity to create a shiny new home that is exactly how you want it. Construction finance has extra steps and there are many different types of building contracts but don’t let that put you off.
That’s where we come in.
We’ll walk you through how the bank will treat each type of construction contract that you come across. Talk to us about:
- Fixed-price contracts
- Turn-key contracts
- Buying off-the-plans
- KiwiBuild properties
- Labour only contracts
- Factory-built houses
We’ll manage the finance process for you. We’ll ensure you get the best mortgage for your situation, no matter how much deposit you’ve got, what kind of building contract you have or what income you have.
A bit lost with construction?
We do not charge you for our services so give us a call or have a look at our helpful information below. It is always free for you to chat with us and get any help and advice you need!
Our mortgage brokers can…
- Calculate affordability
- Find the best bank for you
- Give you step-by-step guidance
- Help you get up to 95% LVR
- Get KiwiBuild pre-approval
We don’t charge you for our services.
So don’t miss out on your dream home, contact us today to begin making your dream a reality.
Can you get KiwiSaver help?
When you are buying your first home, one of the first things to confirm is whether you have access to KiwiSaver and/or a HomeStart Grant. We have a range of articles spelling out everything you need to know about these options. The use of your KiwiSaver increases your deposit, which can make borrowing significantly easier and cheaper.
Don’t forget: for all questions, you can always contact your local mortgage broker directly. It only takes 2 minutes to call the adviser and you will have an answer immediately.
Not signficantly more complicated at all! It still comes down to the 2 key mortgage questions: can you afford the new home and do you have enough deposit / equity?
The only extra step is that the bank will need to check the build contract to make sure it is acceptable to them.
A progress-payment contract typically involves settling on (purchasing) a section and then paying invoices at key points during the construction phase. For example; once the foundations are laid, when the framework is up etc…
Progress-payment contracts are typically cheaper than turn-key contracts as you pay for the interest on the mortgage throughout the build process.
Turn-key contracts are a sale and purchase contract where purchases settle on a new house when it is fully completed and ready to move in. Typically a deposit is paid (usually 10%) to confirm the contract. The remaining is paid upon settlement.
Almost all Mortgage Lab services are available to you free of charge. Our brokers get paid a commission by the banks when a mortgage is finalised or refixed. The only time you’ll pay a fee is if we have to involve a non-bank finance company. You’ll always be made aware of these fees long before they are locked in.
What Past Clients Say…
Why Choose Us?
Because when it comes to your first home, you deserve the very best…
We act quickly to reduce the hassle and hold-ups of the financial approval process
We’re highly experienced and trained to help you through the mortgage approval process
We’re here for you and we genuinely care about helping make your dream a reality
Use our Loan Repayment Mortgage Calculator to see how much your mortgage will cost
Use our mortgage calculator below to see your expected mortgage payments. Click on the “Extra Payments” tab to see how quickly you could pay off your mortgage with just a little extra payment.
Want to DIY but need a little more help?
Purchase our book online to become the next successful first home buyer
Our paperback book “The Successful First Home Buyer” walks you through the entire process of preparing to buy your first home.
The goal? By the end of the book, you will present to the bank as the perfect buyer! Follow the To-dos at the end of each chapter and make the entire home-buying process easy.
Send us a message:
Get in touch with Mortgage Lab. Simply send us a message via the form and we’ll be in touch shortly.