Home Loans

Build Loans

Interest free for the first 18 weeks.

NBS Clients - Jessica and Nick, with Dean Lund, Takaka Branch Manager

Interest free for the first 18 weeks, so you can focus on all the details, and not worry about the finance.

Pre-approval gives you plenty of time to find the right section and plan your build. 

We live around here and know the area, so we’ll make site visits to ensure your project is progressing well, and we can make construction payments on your behalf. Upon completion of the build, we offer you competitive fixed rate finance options.

Available to owner-occupied and investment property applicants. 

How an Interest Free Build Loan Works

  • You will need to complete a full loan assessment for this product type.
  • Once you have a contract with your builder and construction begins, the build loan is paid out in agreed stages.
  • NBS will inspect the build progress to ensure the works have been completed in line with the build contract. No interim Registered Valuations are required for progress payments to be made, saving you money.
  • There are no application fees for our build loans.
  • There are no interest charges for the first 18 weeks of the build, from the date of the first loan drawdown.
  • After the interest free period (18 weeks), a build loan is based on a variable interest rate until the build Code of Compliance is provided. The facility can then be restructured to a fixed interest rate term loan (if required).
  • Our interest free build loan is on the condition that you stay an NBS client for at least 2 years. If you move your lending to another financial institution within this 2 years, we may ask you to repay the interest foregone over the initial 18 week period and a $50 administration fee.


Turn Key Contract

This is a single fixed-price contract with a builder or building company that specifies a completed property or renovation. The property is ready to live in, including:

  • Major landscaping (fences, retaining walls)
  • Drives and paths
  • Decorating (painting, floor coverings)

There are no additional costs, no more work to do.

For a new build, the contract sometimes includes the land purchase as well.


Build Only

This is a single, fixed-price contract with a builder that specifies a completed property or renovation to a completely liveable and compliant condition.

  • The owner is responsible for completing some finishing work themselves or may have other contracts in place for some of the other work.

Rates & Fees

NBS Home Loan Rates
1 Year Fixed 7.75% p.a.
2 Year Fixed 7.35% p.a.
Variable 9.00% p.a.
NBS Flexi Loan - Interest rates start from 9.00% p.a.

Interest rates are current and subject to change.

NBS Build Loan Fees
Loan Additional Funds $250.00
Discharge Mortgage Fee $50.00
Default Interest Rate 4.00% p.a. above annual interest rate
Default Administration Fee $45 per event
Dishonour Fee $15.00
Insurance Arrears Payment Fee $25.00
Rates Arrears Payment Fee $25.00
Motor Vehicle Security Variation/Security Swap Fee $30.00
Duplicate Statement Fee $5.00
Interest Rate Review $50.00

Fees are subject to change.

Terms and Conditions

NBS’ current Loan Agreement Specific Terms and General Lending Terms are available free of charge from any NBS branch. NBS lending criteria and the above terms apply.