Buying guide
NZ Construction loans: Everything you need to know (2025)
The Trade Me Property guide to financing your next build
AI summary
Planning a new build? Understanding NZ construction loans is your first step. You'll typically need a deposit of at least 10% of the total land and build cost.
Funds are released in stages as progress payments to your builder, often with interest-only repayments during construction.
Key contract types include Turn key (price certainty) and Build-only (more flexibility). Be wary of provisional costs (PCs) to avoid budget blowouts. Talk to lenders or a mortgage broker early.
How much deposit do I need for a construction loan?
How do construction loans work?
How to apply for a construction loan
You won't get far without finance.
How much can I borrow with a construction loan?
A closer look at construction loan progress payments
Types of construction contracts
1. Turn key
2. Build-only
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The right loan can make building much easier.
A note on provisional costs (PCs)
Finding the right construction loan
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