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CONSTRUCTION FINANCE
The loan helps fund approved building work, subject to the bank’s valuation, affordability assessment, approved amount and lending conditions.
START YOUR BUILDING LOAN APPLICATION
Whether you are building a new home or completing major approved improvements, Audax Home Loans can help prepare and manage your application to participating banks.
FINANCE YOUR BUILDING PROJECT
Building a new home or making substantial additions to an existing property requires careful financial planning. A building loan can help finance approved construction work while the project moves through its different stages.
Audax Home Loans assists applicants with preparing and submitting building loan applications to participating banks. We help you understand the supporting information banks may require, coordinate the application and compare the responses received.
Whether you are building on vacant land, constructing a new home, extending an existing property or completing major renovations, we provide personal guidance throughout the building loan application process.
Calculator results and website information are estimates and general information only. They do not constitute financial, construction, legal or tax advice and do not guarantee building loan approval. Approval, loan amounts, deposits, progress payments and conditions remain subject to each participating bank’s assessment and lending criteria.
WHAT IS A BUILDING LOAN?
A building loan finances approved construction work on vacant land or qualifying alterations to an existing property.
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PROGRESS PAYMENTS
Approved funds are generally released in stages as construction progresses, subject to inspections, supporting documents and the bank’s payment conditions.
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PROJECT DOCUMENTS
Banks may require approved plans, a signed building contract, detailed costings, specifications, finishes and applicable registration or compliance documents.
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BANK ASSESSMENT
Each bank reviews the applicant, land or property, plans, builder, project budget and expected completed value before making a decision.
HOW BUILDING LOANS WORK
Building finance requires more project information and ongoing verification than a standard home purchase application.
ONE APPLICATION
Complete one structured application for submission to participating banks instead of approaching each bank separately.
APPROVED BUILDING PLANS
The project generally requires detailed plans, elevations, sections and a site plan that meet the applicable approval requirements.
BUILDING CONTRACT
A signed contract helps confirm the builder, scope of work, project price, responsibilities, payment arrangements and construction timeline.
DETAILED COSTING
Banks may review the full cost breakdown, specifications, schedule of finishes and available funds before assessing the requested finance.
PROGRESS INSPECTIONS
The bank may inspect completed work before releasing each progress payment, subject to its valuation and payment procedures.
STAGED PAYMENTS
A portion of the approved loan is retained and paid out during construction as verified stages of work are completed.
BUILD YOUR HOME WITH THE RIGHT FINANCE
Complete one application and let Audax Home Loans guide you through the participating-bank submission process.
BUILDING LOANS FOR DIFFERENT PROJECTS
Audax Home Loans assists applicants with different residential construction and improvement requirements.
NEW HOME CONSTRUCTION
Finance the construction of a new residential home using approved plans, a detailed building contract and a clearly defined project budget.
VACANT LAND AND BUILD
Apply for finance where the project involves suitable vacant land and the construction of a new home, subject to the bank’s requirements.
EXTENSIONS AND ADDITIONS
Finance qualifying additions such as extra rooms, expanded living areas or other approved structural changes to an existing property.
MAJOR RENOVATIONS
Apply for finance for substantial approved renovation work that requires formal plans, detailed costings and staged construction payments.
YOUR BUILDING LOAN APPLICATION JOURNEY
We help coordinate the finance application while you prepare the property, plans, builder and project documents.
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ASSESS YOUR TOTAL PROJECT BUDGET
Review the land or property cost, professional fees, construction budget, available deposit, contingency funds and monthly affordability.
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CONFIRM THE PROPERTY AND PROJECT
Confirm the site, ownership arrangements, intended construction work and whether the proposed project is suitable for a building loan application.
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PREPARE THE PLANS AND SPECIFICATIONS
Obtain the required plans, sections, elevations, site plan, specifications, finishes and applicable approvals for the proposed work.
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APPOINT THE BUILDER
Select an appropriate builder and prepare the signed building contract, detailed quotation, cost breakdown and supporting compliance documents.
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PREPARE YOUR PERSONAL DOCUMENTS
Audax Home Loans helps identify the personal, financial, employment, property and construction documents required for submission.
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COMPLETE ONE APPLICATION
We collect the information required to present your building loan application to participating banks.
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BANK ASSESSMENT AND APPROVAL
Each bank assesses the applicant, property, project budget, builder, plans, valuation and lending risk according to its own criteria.
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PROGRESS PAYMENTS DURING CONSTRUCTION
Once the required conditions are met, payments may be released in stages as construction progresses and completed work is verified.
WHAT BANKS MAY CONSIDER
Every participating bank applies its own affordability, valuation, construction and lending criteria when assessing a building loan application.
PERSONAL AFFORDABILITY
Your verified income, monthly expenses, existing commitments and disposable income may form part of the affordability assessment.
CREDIT PROFILE
Banks may consider your credit history, repayment conduct, current accounts and total existing debt exposure.
LAND OR PROPERTY VALUE
The bank may assess the site, current property value, intended improvements and expected value once the approved work is completed.
PLANS AND SPECIFICATIONS
Detailed plans, specifications, finishes and project information help the bank understand the scope and quality of the proposed construction.
BUILDER AND CONTRACT
The bank may review the builder, signed contract, construction timetable, quotation, cost breakdown and relevant compliance documents.
DEPOSIT AND SHORTFALL
The approved loan may not cover every project cost, so the bank may consider your available deposit and ability to fund any shortfall.
GET YOUR PROJECT READY FOR FINANCE
Speak to Audax Home Loans about your plans, builder, project budget, supporting documents and building loan application requirements.
DOCUMENTS YOU MAY NEED
Exact requirements differ according to the bank, project, applicant circumstances and stage of the construction process.
PERSONAL DOCUMENTS
- Valid identity document or passport
- Proof of residential address
- Marital-status information where applicable
- Contact and tax information where required
- Information for every joint applicant
FINANCIAL DOCUMENTS
- Recent payslips or proof of income
- Recent personal bank statements
- Monthly income and expense information
- Details of existing credit commitments
- Proof of deposit or available project funds
BUILDING DOCUMENTS
- Signed building contract
- NHBRC certificate where required
- Plans, sections, elevations and site plan
- Detailed building quote and cost breakdown
- Schedule of finishes and specifications
FINAL PAYMENT AND BUILDING INSURANCE
Once construction is complete, the bank may request confirmation that suitable building insurance is in place before processing the final payment, subject to its requirements and the completed-property valuation.
UNDERSTAND THE FULL PROJECT COST
A building project includes more than the construction quotation and the eventual monthly loan repayment.
UPFRONT PROJECT COSTS
- Land or existing-property costs
- Deposit or applicant contribution
- Architectural and professional fees
- Plan approval and related charges
- Bond registration and legal costs
- Site preparation and connection costs
- Builder mobilisation or initial deposits
- Contingency funds for unexpected work
ONGOING CONSTRUCTION COSTS
- Progress payments and approved drawdowns
- Material and labour price changes
- Professional inspections and certification
- Temporary services and site security
- Insurance during and after construction
- Variations to the approved scope
- Interim accommodation where applicable
- Monthly repayments and interest changes
PLAN FOR COST OVERRUNS
Maintain a practical contingency for design changes, material increases, delays, site conditions and work that falls outside the approved building contract or loan amount.
REVIEW THE PROJECT BEFORE YOU APPLY
Confirm the site, plans, builder, costs and project timeline before committing to the construction process.
LAND AND SITE
- Ownership and purchase arrangements
- Access, slope and ground conditions
- Municipal services and connections
- Zoning and applicable restrictions
- Site preparation requirements
PLANS AND SPECIFICATIONS
- Approved layout and building design
- Sections, elevations and site plan
- Structural and technical requirements
- Schedule of finishes and materials
- Scope of work and quality expectations
BUILDER AND TIMELINE
- Builder experience and documentation
- Signed contract and payment stages
- Realistic construction programme
- Responsibilities for delays and variations
- Completion and handover requirements
FINANCIAL INSIGHT AND PERSONAL SUPPORT
Audax Home Loans was founded by practising professional accountants, supporting a structured approach to project costs, income, commitments and affordability.
HOW AUDAX HOME LOANS ASSISTS YOU
We help prepare your application, submit it to participating banks, communicate requests for further information and help you understand the offers or responses received.
Our role is to make the building loan application process clearer, more convenient and easier to manage.
OUR APPLICATION SUPPORT
- One structured building loan application
- Submission to participating banks
- Guidance on supporting documentation
- Application follow-up and communication
- Explanation of bank responses and conditions
- Personal assistance throughout the process
- No application fee charged to the applicant
USE OUR HOME LOAN CALCULATORS
Estimate affordability, monthly repayments and selected property-related costs before submitting your application.
AFFORDABILITY CALCULATOR
Estimate the home loan amount you may be able to afford using your income and monthly financial commitments.
REPAYMENT CALCULATOR
Estimate the monthly repayment using the intended loan amount, interest rate and repayment period.
BOND AND TRANSFER COSTS
Estimate selected legal, registration and transfer-related costs that may apply to the property and loan transaction.
BUILDING LOAN FAQ
Find answers to common questions about building loan applications, documents and progress payments.
WHAT IS A BUILDING LOAN?
It is finance used for approved residential construction on vacant land or qualifying building work on an existing property.
HOW ARE BUILDING LOAN FUNDS PAID?
Approved funds are generally released in stages as construction progresses, subject to inspections, supporting documents and the bank’s conditions.
WHAT IS A PROGRESS INSPECTION?
It is an inspection used to confirm the stage and value of completed work before the bank considers releasing a progress payment.
DO I NEED APPROVED BUILDING PLANS?
Banks generally require detailed building plans and related project information. Exact approval and document requirements differ between projects and banks.
WHAT BUILDING DOCUMENTS MAY BE REQUIRED?
Requirements may include a signed building contract, NHBRC documentation, plans, elevations, a site plan, detailed costings, finishes and specifications.
WILL I NEED A DEPOSIT OR EXTRA FUNDS?
A deposit or applicant contribution may be required. You may also need available funds for costs not covered by the approved building loan.
CAN A SELF-EMPLOYED APPLICANT APPLY?
Yes. Self-employed applicants may need to provide additional business, financial, banking and tax information.
DOES APPROVAL COVER EVERY PROJECT COST?
Not necessarily. The approved amount and payment conditions are determined by the bank, and some costs or overruns may remain the applicant’s responsibility.
WHAT HAPPENS WHEN CONSTRUCTION IS COMPLETE?
The bank may require final inspections, completion documents and confirmation of suitable building insurance before processing the final payment.
HOW MUCH DOES THE APPLICATION SERVICE COST?
Audax Home Loans does not charge the applicant a bond-origination application fee for submitting the application to participating banks.