Step-by-Step Building Finance Mortgage Structure
You can save yourself a lot of time and money by setting up your building finance loan carefully and in advance.
We have a few useful tips about these loans:
- Consider your options for a fixed interest rate or a variable interest rate. Both types of interest rates have their strengths and weaknesses. You will need to select a loan which is best suited to your needs.
- Consider terms and conditions of finance repayments to find the loan most suitable for you. Repayments need to be well-defined and well planned to maximise the value of your loan.
- Consider the term of repayments; a shorter loan period may save you money in the long run. Both long-term and short-term loans have distinct advantages in terms of managing cash flow.
- A new construction loan has certain benefits for owner/occupiers. Some loans may be exempt from the LVR if your loan is approved before you start construction.
- Consider your eligibility for a KiwiSaver grant. This grant can help increase your available capital when you take out your building loan.
iLender Building Finance Loans
We customise our loans to best meet the needs of our clients and we’ll find you a loan which addresses all yours. As mortgage advisers, we are able to access the best loans on the market. Our expert mortgage advisers can find a loan with an excellent rate that’s tailor-made for your needs.
