Financing your new building project is a major focus for Onion, brought about by our close links with GJ Gardner Homes (proudly known as New Zealand’s most trusted home builder).
We have strong banking relationships in place tailored to provide easy to use and very competitively priced construction products for your build project, a benefit that comes with dealing with such a well respected builder as GJ Gardner Homes. We will also manage the entire process for you to ensure you experience a seamless process at minimal cost and, like other forms of lending...our service is free! (1)
Assisted by GJ Gardner’s track record and our relationship with the banks, typical benefits we can deliver you when building a house with GJ Gardner Homes are:
- No expensive progress drawdown valuations during the construction phase *
- Lending up to 90% of your land and build cost (2) *
- Lending up to 95% on 'turn key' House and Land packages *
- Payment holiday on mortgage payments during your build phase (3) *
- Highly competitive pricing packages
- Virtually all of our construction and term finance is sourced from trading banks who pay our fee. If we are unable to source bank funding for your project or your requirement is short term such as a spec build facility where the bank may not pay our fee, we may have to pass the cost of our services on to you. We will discuss this with you before we incur any cost to give you the opportunity to proceed or not.
- If you are borrowing in the high LVR range, your building contract needs to be fixed price with no or minimal PC sums. Refer Greater then 80% LVR Loans and Construction loans.
- If you use the payment holiday option, interest will be debited to your loan account through this period therefore increasing your loan by the interest amount at the end of the construction period. The loan amount including this interest is the amount used to calculate the LVR. This will affect the amount of deposit or equity you will need if you are wanting a maximum LVR loan.
* Some conditions may apply and will be subject to individual banks lending criteria