New Builds and Construction Loans Wellington

No industry jargon and the know-how to navigate through the minefield of new build and construction lending.

Land & Build Contacts.

There’s a lot to think about. You’ll want to understand the requirements of paying for the land before building commences, the loan to value ratios (LVR) on construction loans, know what your interest payments will be as your build progresses and work through the various conditions needed to satisfy your construction loan. Phrases like schedule of payments, valuations, builders risk insurance, code of completion and code of compliance can become overwhelming.

Lendal Mortgages will support you throughout the process. I’m here to do the heavy lifting and leg work for you so you can focus on the more exciting aspects of your upcoming new build.

Land & Build Turn-Key Construction.

Think of it as build now, pay when complete.

Land & build turn-key construction contracts are an attractive option for buyers as they’re, often, easier to fund. The loan isn’t established until your new build is complete and Code of Compliance is issued – meaning there’s no interest to be paid throughout the land purchase and construction stages.

In turn this means there’s no interest included in the lending assessment and less income is required to service the loan.

Labour Only Contracts.

With no fixed price, labour only contracts are more complex.

Your lender looks at the amount needed to fund the build by collating various quotes together and factoring in the higher likelihood of build cost overruns. Generally, the equity required in terms of loan to value ratios (LVR) is much higher, to mitigate the risk for your bank or other lender.

LVR’s vary from 60% for labour-only contracts through to 90% for owner occupied fixed price contracts. Lendal Mortgages works through all the complexities with you (jargon-free) so there’s no surprises when it’s time to build your new home.

25+ Lenders (Access to all major banks operating in New Zealand)

$75 million plus in loan
settlement each year

240+ five star reviews & growing

30+ combined years in the financial services industry

Does the jargon, alone, overwhelm you?

When you’re ready to buy your first home, you want to focus on the exciting stuff – like finding the right home. Organising the finance to assist with the purchase can be daunting. You might have questions like:

How much money can I borrow to buy my first home?
What deposit do I need for a home loan?
Can I use my Kiwisaver to buy my first home?
What’s the difference between a tender and deadline sale?
How do I even apply for mortgage finance?

At Lendal Mortgages, we specialise in home first finance. We’ll walk you through the entire process, from understanding your new home loan options to finding the best first time home buyer loans that suit your unique needs. We’ll even help you with first time home loans and first time homeowner loans.

But what about mortgage pre-approval? We’ve got that covered too. We’ll guide you through the pre-approval process, ensuring you know exactly what you can afford. Remember, we’re not loan providers, we’re your partners in this journey, making sure you’re well-prepared for this significant life step.

The process

1. Get in touch

Reach out for a quick chat about what you’re looking to achieve, and we’ll point you in the right direction from the start.

2. Share your details

We’ll gather the information we need to understand your situation fully and prepare a strong, well-supported application.

3. We work with the lenders

Our team handles the process with the banks and lenders—negotiating, presenting your application, and making sure everything stays on track.

4. Finalise and settle

If lenders need anything extra, we’ll guide you through it and keep you updated until your approval is confirmed and your finance is ready to go.

Want to know how I can support you with your new build & construction lending?

Get in touch