For many kiwis, building a new home means approaching a bank for finance to fund the project. There’s nothing wrong with that, providing you meet the Banks lending criteria and are happy with the loan structure. However, financing a new home is not the same as existing real estate, there are a lot more factors to consider and it may well be worth considering a specialist residential construction lending company. Financing through a company who specialises in residential building can offer many benefits including:

  • Having a financier that understands home building means a smoother, more enjoyable process.



  • A specialist lender may be able to offer options that work better for you. Depending on the situation, home building is exempt from the Reserve Bank low deposit lending restrictions — which means you could purchase a turn-key house and land package from as little as 5% deposit with no mortgage repayments until completion. In this way you are not carrying a mortgage or rent on your current home – plus the cost of building. It may also mean you get into a new home sooner.
  • A specialist lender can guide you through using Kiwi Saver for part, or all, of your deposit.



Find out more about funding a Navigation Homes with NewBuild

Find out more about funding a Navigation Homes with NewBuild

A specialist lender will ensure you have access to enough money to cover:

  • The estimated costs within the Building Contract.
  • Any owner care items (the things you intend to do yourself such as landscaping).
  • An interest reserve to help cover the cost of finance (if required).
  • Contingency reserve in-case you change your mind on something along the way.
  • An accommodation allowance (if required) — you may still need to pay your existing mortgage or rent whilst your new home is being built.

We have a strong relationship with a specialist home building finance company – NewBuild. NewBuild are fully independent from Navigation Homes and we trust they will give you excellent advice and tailor finance to best suit your needs. If you would like more information about funding a new home through NewBuild please click the link below.

* 5% deposit is indicative only subject to meeting lenders criteria. Lenders terms, rates and condition’s apply.