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We can help you build your next home or buy off-the-plans

Your Dream Home?

Why Not Build

Talk to a Mortgage Broker

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.

FAQs

Almost all Mortgage Lab services are at no direct cost to you as our brokers get paid a commission by the banks and other lenders when a mortgage is finalised or refixed.

The exceptions to this:

  • If a mortgage is paid off or discharged within 27 months, a fee may be incurred.  See our FAQ: What if I sell my home or refinance my mortgage shortly after using a mortgage broker?
  • Finance companies may require a fee to be added to the loan rather than paying us a commission. You’ll always be made aware of these fees long before they are locked in.
  • If, following the service provided by the adviser, you elect not to continue engaging Mortgage Lab to settle the mortgage or finalise the insurance product, the adviser may charge you an hourly rate of $250 for the work provided.  The maximum charge we will invoice for is $2,500.

The commissions paid are below.  These commissions are accurate at the time of writing – 15th March 2021

Lender Upfront Trail Refix
ANZ 0.85% N/a $150
BNZ 0.55% 0.15% N/a
ASB 0.85% N/a $150
Westpac 0.60% 0.20% N /a
Sovereign Home Loans 0.60% 0.20% N/a
ASAP Finance Limited Fee Charged N/a N/a
Avanti Finance Up to 0.80% N/a N/a
BlueStone 0.90% + 0.30% (after 18 & 24 months) N/a N/a
Cressida Fee Charged N/a N/a
DBR Fee Charged N/a N/a
First Mortgage Trust Fee Charged N/a N/a
Heartland Bank (Reverse Mortgage) 1.50% N/a N/a
Liberty Financial 0.60% 0.15% N/a
NZCU (Personal Loans) 1.00% N/a N/a
RESIMAC 0.60% 0.15% N/a
SBS Bank 0.80% N/a $150
Southern Cross Fee Charged N/a N/a
The Co-operative Bank 0.70% N/A $150

 

From time to time we may receive additional referral payments from our business partners.  Some advisers may receive payments for referring mortgages, Life and Health insurance, KiwiSaver, currency exchange or Fire and General insurance.  Mortgage Lab and the advisers do a significant amount of due diligence to make sure that all referrals are to companies of the highest quality and compliance standards.  The decision to refer to a partnering business is based on quality service first and the payment received second.

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.

What Past Clients Say…

Lynne is the best! She helped us a lot. Always answer our questions. Thank You Lynne

Lynne Dent

First Home Buyer - S Petrova, Christchurch

Lynne was very easy to work with and got my mortgage sorted for me fast. I would highly recommend her.

Lynne Dent

First Home Buyer - S Sathiyanathan, Christchurch

We had the most awesome experience, we had been trying to buy a house for the entire 2020 and used a number of mortgage brokers but each asked more and more from us. They wanted us to cancel our KiwiSaver deposits and cancel this and that. We were about to give up when a friend told us about Lynne and w…

Lynne Dent

First Home Buyer - E Hilder, Timaru

From our very first meeting, Karen was friendly, professional, helpful, informative and very, very knowledgeable. We asked many questions which I’d imagine are rather simple and repetitive to an advisor but Karen happily responded with helpful information, provided links to further information, helped…

Karen Hyland

First Home - S Greco, Auckland

I am a middle-aged single female buying a first property in Christchurch post-COVID lock-down; the most difficult market to not only get finance but actually get a property to put an offer on! My excitement quickly turned to agitation, anxiety and straight out confusion.

Lynne was ready, willing and able to get my finance sorted however s…

Lynne Dent

First Home Buyer - T Theyers, Christchurch

Robyn was fantastic! Always available and really responsive. She helped us understand all of our options and was always there to answer all our questions big or small. I would recommend Robyn to anyone and will use her for our future mortgage needs.

Robyn Turner

First Home Buyer - C Beech, Waikato

Lynne is great, she showed me how to manage my finances more effectively and how this affected my application with the bank and went above and beyond to get my loan through for me!

Lynne Dent

First Home Buyer - J Keegan, Christchurch

Amazing every step of the way, no question was too hard and kept us up to date with how everything was going.

Rachel Railey

First Home Buyer - L Fisher, Waikato

Kyn is an excellent mortgage broker, he made my first home purchase a breeze. Despite the strict lending criteria (LVR etc.) on low square metre Auckland CBD apartments, Kyn worked really hard to find a finance solution that would work. Would recommend him as a broker and adviser to all. Cheers Kyn.

Kyn Jackson

First Home Buyer - S Sinton, Auckland

Brett was amazing, he really looked after us and made every effort to get us our home loan. I would recommend him any day.

Brett Davies

First Home Buyer - S Vatble, Auckland

Lynne was very helpful, positive, and worked hard to get the best deal for us. She made it possible for us to be able to buy a house much sooner than we expected. She respected our wishes, explained things well, and adapted to the changes necessary with lockdown very well. She always conducted herself p…

Lynne Dent

First Home Buyer - B Dickinson, Invercargill

Lynne was excellent to deal with, very friendly and very knowledgeable. I would recommend her service.

Lynne Dent

First Home Buyer - M Ebsworth, Christchurch

Lynne, was fantastic from start to finish. She took the stress out of buying a house and even helped us look for a house which we now proudly own. Thank you!

Lynne Dent

First Home Buyer - H Patel, Christchurch

Keith is absolutely incredible to work with and we could not be happier with the outcomes he’s provided for us. If you are looking for an Adviser who always gets back to you promptly, explains everything clearly and gets you the best deal possible, Keith is the who you are looking for.

Keith Munro

First Home Buyer - S Fourt, Wellington

Laura was so amazing and understanding. Really helpful especially as all the work was done during level 4 lock down. I can’t recommend the service and experience highly enough.

Laura Cates

New Purchase

Lynne did a brilliant job organising us into our first/down sizing home. We didn’t think we had things quite in place but non the less when a place popped up we were really interested in she was able to work her magic and we have now been in our own home for a couple of months.She was so knowledge…

Lynne Dent

Purchase of New Home

Johnny was exceptional throughout the process. I will definitely recommend his services.

Johnny Ang

First Home Buyer

Helpful, knowledgeable.

Johnny Ang

First Home Buyer

Robyn was incredible and so encouraging. I would never have thought I could buy a place in my dream location, but with her help I did. She was a wealth of knowledge and always happy to answer my (many!) questions.

Robyn Turner

First Home

Two thumbs up for Johnny, his excellent service and hard work. I would 100% recommend Johnny to my friends and family without doubt.

Johnny Ang

First Home Buyers - Auckland

Very professional, I was very happy with the overall experience and manner that Samuel presented to me.

Samuel Eva

Purchase of First Home

Samuel was so knowledgeable and made the whole process so easy. I would definitely recommend him to anyone looking to buy a house!

Samuel Eva

Purchase of First Home

Samuel has been awesome to deal with & we’ll certainly be recommending him in the future.

Samuel Eva

First Home Buyer - Auckland

Why Choose Us?

Because when it comes to your first home, you deserve the very best…

 Stress-free process

We act quickly to reduce the hassle and hold-ups of the financial approval process

 Expert advisers

We’re highly experienced and trained to help you through the mortgage approval process

Friendly service

We’re here for you and we genuinely care about helping make your dream a reality

Mortgage Tools

How much can you borrow?  Check out our affordability calculator.

Use our affordability mortgage calculator to see what you might be able to borrow on your income.

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.