Our Lending Partners
Who will be your Lender
NewBuild has had a fantastic partnership with Sovereign Home Loans - New Zealand's largest non-bank lender, and our lending Partner.
Both Sovereign and ASB Bank are wholly owned by the Commonwealth Bank of Australia. Your Home loan account will be through ASB Bank.
We are often asked if Sovereign is a non bank funder. It does not have branches like a regular bank, but all its home loan funding is supplied by ASB Bank. In fact, if you use a NewBuild advisor to secure your loan directly, you will receive a 0.1% discount to your floating interest rate, so you get an incredibly competitive home loan rate.
The Sovereign GO Home Loan works likes a traditional home loan. You can make direct debit payments from your existing bank with no need to change banks whatsoever, but the GO Home Loan has some cool features such as:
- It is fee free.
- It allows for transactional banking (you can salary credit into your home loan, and make payments from this fee free.
- You can set up AP's DD's, and Bill pay. And you even get an EFTPOS card.
- You can split your loan as many times as you want at no cost, and you can speed up repayments with proper structure.
- Unlike your bank manager who often comes and goes, we become your professional Advisor, giving you advice on market conditions, whether to fix, and for how long. OK, this is free too.
Our second funder is a true Non Bank Partner. Crown Money offer construction loans for short term projects and specs. While their higher rates reflect a different type of loan, this is a fantasic option if you have no evidence of income, need inherent equity as deposit, or your bank simply won't talk to you.
Crown Money does not fund from public deposits, but secures the bulk of its funds from a mainstream bank, making it a far safer option than many of the financiers who have not survived the credit c