HBS Homes 'NewBuild' Home Finance Plan
Not all construction loans are equal. 'NewBuild' just makes sense ...
because it takes the stress out of financing your next building project
Lower deposit requirements - as low as 10%* (house and land).
No interest payments while you build - The hardest part about building is paying rent or another mortgage while you pay for your construction loan. Interest reserves* reduce out-of-pocket costs so monthly interest payments are not necessary while your home is being built. This also allows you to be approved for a loan much higher than you may be approved with a traditional construction loan.
Professional management of construction loan allows you to focus on the building project, not managing progress valuations, insurance, guarantees ... while you enjoy a fully managed loan you don’t have to pay any more. In fact, we don’t require multiple valuations so it may cost you substantially less. Because progress payments are paid directly to your builder on a pre-agreed basis, you no longer have to worry about your bank not paying sufficiently to complete your new home, or leave you struggling to fund the completion — even if the valuation drops.
Funding for owners’ care and variations* – while other banks generally won’t finance any work outside your contract, 'NewBuild' will include the work you want to complete separate to the contract, as well as make allowance for potential cost over-runs, upgrades and even landscaping.
Very competitive loan products and pricing through Sovereign Home Loans -
New Zealand’s largest non-bank lender and wholly owned by ASB Bank.
View www.newbuild.co.nz for the latest interest rates.
For more information and free booklet - contact Mark Bromley
P: (03) 377 7103 M: (021) 946 899 E: admin@newbuild.co.nz
* Other lending conditions apply.