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Financing your project

The first stage of building or renovating involves reviewing your finances to understand what you can afford.

Know your buying power

Your Construction Coach can help you understand your financial position and borrowing capacity.

Work out how much you could borrow

Get an idea of how much you could borrow based on some quick questions about your financial situation.

Use our borrowing calculator

Deposit options

The amount you’re able to borrow may depend on the amount of your deposit. Find out more about home loan deposit options.

Home loan deposit options

Getting a conditional pre-approval

At ANZ we can conditionally pre-approve your home loan – so you can house-hunt, or plan your build, with confidence.

Getting a conditional pre-approval

How building and renovating loans work

Borrow against the property’s final value

When building or renovating, you can usually borrow against the value the property will have once work is completed. How much we can lend you is based on that final value, which is known as the Tentative on Completion Value.

Access money when you need it

Loans for building and renovating start on floating rates, giving you the flexibility to access (drawdown) money as you need it to pay for work completed. In the meantime, you don’t pay interest on money you haven’t drawn down yet.

You have a maximum of 12 months to drawdown the full loan amount.

Then lock in an interest rate

Once money has been drawn down, you can transfer it to a fixed interest rate and have the certainty of regular fixed repayments. 

Talk to an ANZ Construction Coach

Our construction coaches can help you work through your loan and deposit options. They can also give you an idea of what you could borrow and what your repayments could be.

Consider the costs

Your Construction Coach can help you assess the costs of building/renovating and help you set your budget. For more helpful budgeting tools visit sorted.org.nz.

Building and owning a home

Building costs – one off

  • Architect or draftsman.
  • Project management, builders, trades people, quantity surveyor (QS) and engineers.
  • Solicitor fees.
  • LIM reports and council documents.
  • Resource and building consent.
  • Contract works insurance.
  • Valuations.
  • Moving costs (potential rent costs during a large renovation).
  • Utility setup and reconnecting services.
  • Project/cost overruns.

Owning costs – ongoing

  • Home loan repayments.
  • Council rates.
  • Insurance – Home and Contents.
  • Utilities and maintenance.
  • Body Corporate fees (if applicable). 

Renovating a home

Get an idea of how much it might cost based on some quick questions about your home and renovation plans. 

Tip

Allow for cost overruns in your budget when planning. Cost overruns are common which can be stressful if you haven’t allowed for them.

ANZ Blueprint to build package for new build homes

If you’re building or buying a new build, you could get discounted home loan interest rates and save on fees for up to two years with our Blueprint to build package. To get ANZ Blueprint to build benefits on accounts, products, and services you have with us, here are the eligibility criteria you must continue to meet:

  • Be registered for the banking package with us.
  • Have an ANZ Home Loan to build a new home or purchase on a turnkey property which is first drawn down on or after 10 July 2023 (not available on renovations, vacant land purchases, commercial property or for property developers).
  • Have your full salary or wages credited to an ANZ personal banking account.

The package starts from your registration date and any benefits will stop two years after that date. You can register a New Zealand family trust if you’re a non-independent trustee or a ‘look through company’ if you’re a director of that entity.

Interest rate discounts

You’ll get a discount on our standard fixed, floating and flexible home loan rates (new fixed-rate periods only).

Discounts are off our standard interest rates and don’t apply to bridging (tideover) finance.

Fee savings

If you get a new or have an existing ANZ Flexible Home Loan, we’ll waive the monthly account fee.

ANZ Freedom account

We’ll waive the monthly account fee on new or existing accounts.

Transaction and non-standard fees may apply.

ANZ personal credit card

We’ll waive the annual fee (including the additional card fee) on one new or existing ANZ personal credit card.

Transaction and non-standard fees may apply.

ANZ Healthy Home Loan package for building and renovating

With an ANZ Healthy Home Loan Package, you’ll find building or renovating a home to 6 Homestar rating or higher a little more affordable, with special discounts on home loan interest rates and other great benefits. 

ANZ Home Loan

You’ll get a discount on our standard fixed, floating and flexible home loan rates (new fixed-rate periods only, not available on tideover (bridging) loans). 

Plus no monthly account fee on an ANZ Flexible Home Loan.

ANZ personal credit card

Choose any one of our ANZ personal credit cards and you’ll be entitled to fee discounts.

ANZ Freedom account

We’ll waive the monthly account fee on new or existing accounts. Transaction and non-standard fees may apply.

Important information

ANZ lending criteria, eligibility, terms, conditions, fees and exclusions apply. Details are subject to change. Read more about our Rates, fees and agreements. Discounts and benefits aren’t available in conjunction with other package discounts or Home Loan offers.

See ANZ General Terms and Conditions (PDF 221.3KB) or ask for a copy at any ANZ branch, free of charge.

This material is for information purposes only. We recommend seeking financial advice about your situation and goals before getting a financial product. To talk to one of our team at ANZ, please call 0800 269 296, or for more information about ANZ’s financial advice service or to view our financial advice provider disclosure statement see anz.co.nz/fapdisclosure