You can build with a lower deposit with NewBuild
You can own a brand new home with less deposit than you think and less than needed to purchase an existing home.
You can build with a lower deposit with NewBuild
Regulators have allowed you to build a brand new home with less deposit than it takes to buy a used home. Minimum deposit requirements can range from 10 - 20% depending on whether you want a land and build package, want to design your own home, or want a turnkey build. Turnkey homes are currently very popular, requiring a minimum deposit of just 10%.
Even investment land and build properties require a lower deposit, as low as 15%. And the best news is that while existing investment homes are no longer tax deductible, an investment build is able to have the interest costs deducted with the IRD - that's a whopping savings of up to 30% on your interest costs.
Client funded 'turnkey' or builder 'turnkey' - you can choose with NewBuild
We will help you with the best loan to get you into your new home. Whatever option you select, with NewBuild you don't need to start your loan repayments until you move in.* (conditions apply)
Client funded 'turnkey' or builder 'turnkey' - you can choose with NewBuild
Broadly speaking, a "turnkey" is a process of delivering the completed home rather than a type of loan. Most banks like to promote "turnkey" because they are not required to fund anything until the home is completed, bypassing all the work to assist in getting the home completed. But the key benefits of the turnkey process is paying a deposit (normally 10%) up front, and not starting the mortgage payments until the home is completed. This avoids the hard bit about a construction loan that requires you to pay your rent and a construction loan at the same time.
We've resolved this with a NewBuild loan. We've made your house and land package easier, simpler, and safer to fund.
For most people, owning a brand new home is the dream but paying rent (or mortgage) while you are building plus paying the construction loan interest is simply unaffordable for most. NewBuild has the solution - with a turnkey loan or a NewBuild progress payment loan (which behaves much like a turnkey), you only start your loan repayments when you move it. This takes so much stress away from the process of owning your new home and makes the dream possible.
We will help you with the best loan to get you into your new home. And whatever option you select, you won’t need to start your loan repayments until you move in.* (conditions apply)
Owner-occupied or investment?
The current regulations encourage building. If you’re planning to build an investment property you can continue to offset interest costs — a huge benefit!
Owner-occupied or investment?
New investment properties require a lower deposit than buying existing, as low as 15%. And better still, while existing investment homes are no longer tax deductible, an investment build is able to have the interest costs deducted with the IRD - that's a whopping savings of up to 30% on your interest costs. You can also use the equity in your current home as deposit.
Talk to the team at NewBuild to see if now is the best time to build your investment home.
Have you seen the interest rates?
See our great rate offer above. You may also qualify for $3,000 cash back if your build has a Homestar rating of 6 or higher (terms and conditions apply).
Have you seen the interest rates?
Through NewBuild you have access to competitive floating and fixed interest rates. This can save you thousands on interest costs during your build. You are eligible for these rates with a NewBuild progress payment loan or a turnkey build. You may also qualify for $3,000 cash back if your build has a Homestar rating of 6 or higher (terms and conditions apply).
A competitive interest rate is just one of the many benefits of securing your finance through NewBuild. We will secure you sufficient finance, including reserves for those unexpected costs, to make sure you get all the way to the end of your build project with sufficient funds.
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What can I afford? • No cost • No credit check • No obligation |
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Calculate If You Qualify |
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What our clients have to say Read our testimonials. |
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Testimonials |
• No interest repayments during your build • Lower Deposit to Build • Finance by Sovereign
Lending criteria (including minimum equity requirements), terms and fees apply
Want to know more? Follow the construction journey below. 