FINANCE PARTNERS

GENERAL OVERVIEW AND SUMMARY OF NEWBUILD AS A REFERENCE:

Here's a brief overview of what NewBuild can offer you that your bank may not be able to do for you. We specialise in getting our clients into a new home with less deposit, and less stress:

1. Your loan is a standard bank loan through Sovereign/ASB and your interest rates will be very competitive (they will often discount your rates considerably from those advertised).

2. Our lending criteria is unique to NewBuild (only available through NewBuild directly) and it helps many more clients get approved to build.

3. We will consider lower-deposit builds, even during the current Reserve Bank restrictions. On a case by case basis, many clients are approved with as little as 5% deposit* over house and land - including eligible Kiwisaver - any subsidy may also be used (but the subsidy does not form part of your minimum 5% deposit ) and we can use equity in an existing house. Relocatable homes, kit-set homes, de-constructed homes, Labour Only or Self Builds require substantially higher deposits. The Reserve Bank exemption permits new construction loans with a lower deposit.

4. If you own a home and want to retain it as an investment we may be able to use your home as security and fund 100% of your land and build. As specialists in this field, we can also help you structure your loan if you want to hold your existing home just long enough to start your build (so you only have to move once).

5. Our construction loan is fully managed, taking so much of the stress of building away from you.

6. Unlike most banks who require you to pay up to several thousand in valuation fees, NewBuild charges a one-off fee to fully "project manage" the financial aspects of your loan for $1,000, making your building loan less expensive in most cases.

7. We will allow you the option of not making construction loan interest payments until your home is completed - we call this "Client Turn-Key", so you don't have to pay rent and a construction loan at the same time. Your interest rates can be negotiated on completion, and Sovereign will often contribute to your legal costs. For an understanding of Reserves click here. Please note the Reserves are not NewBuild or Lender fees; they are additional funding reserves to ensure you have sufficient funding to cover your interest costs and any changes made to your contract along the way. All unused reserves belong to you.

8. We ensure you have additional funding set aside to help cover unexpected costs along the way, but whatever funds you don't use become yours at the end of your build to use as you wish.

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