NBS Build Loan

An NBS Build Loan is a great way to finance the build of your new home, or for major renovations.

We live here, we know the area, we have local knowledge - we will engage with your build project and will make site visits.

  • Pre-approval - so you have plenty of time to find the right section and plan your build
  • Interest-free for the first 16 weeks, from the start of construction 
  • Competitive fixed rate options upon completion of the build
  • No Registered Valuations required for progress payments
  • Loan approval within 48 hours (if all information is available)


  • You will need to get a Registered Valuation to estimate how much the home will be worth when it is completed
  • NBS will review the valuation and let you know how much you can borrow, and once you have set up a contract with your builder, will make each payment directly
  • As construction begins, the build loan is paid out in agreed stages. Your contract with the builder may set out how much is paid at each stage. Your NBS Account Manager will inspect the build progress to ensure the works have been completed (and therefore has a certain value at that stage). No interim Registered Valuations are required for progress payments
  • During the project you only pay interest on the money already drawn down, and you do not start repaying the loan itself until the project is completed. A build loan is usually on a floating interest rate

This is a single fixed-price contract with the builder 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 is no more money to spend, no more work to do.

Contracts may need to include a Master Builders Guarantee or a Certified Builders Guarantees.

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

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

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

NBS Build Loan Interest Rates

Variable                                                                 4.95% p.a.
1 Year Fixed 3.75% p.a.
2 Year Fixed 3.99% p.a.
Interest rates are subject to change.

Build Loan Fees

Loan Establishment Fee                                                                                                                                                From $400.00
Documentation Fee From $150.00
Discharge Mortgage Fee $130.00
Default Interest Rate 10.00% p.a. above annual interest rate
Default Administration Fee $25.00
Unarranged Excess Fee $25.00
Dishonour Fee $30.00
Insurance Arrears Payment Fee $15.00
Rates Arrears Payment Fee $25.00
Motor Vehicle Security Variation/Security Swap Fee $30.00
Duplicate Statement Fee $15.00
Fees are subject to change.  For descriptions of the above fees refer to NBS' current loan agreement specific terms example.

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. You will also need to have an NBS account.

Your satisfaction is important to us.

NBS aims to provide you with the highest quality of service at all times.  If you have a problem, concern, or complaint about any part of our service, please let us know as soon as you can so that we can sort it out quickly.

We have an Internal Complaints Procedure to resolve any issues.

NBS is committed to responsible lending and has adopted the guidelines produced by the Financial Services Federation.

The Responsible Lending Guidelines have been developed by the Financial Services Federation with the assistance of a variety of stakeholders including the NZ Federation of Budgeting Services, Consumer NZ, the Families Commission Debt Working Group, the Retirement Commissioner, and officials from the Ministry of Consumer Affairs, and the Ministry of Social Development.
The Guidelines aim to improve consumer protection, raise standards across the consumer credit industry, and deliver better outcomes for borrowers and lenders and set out specific steps that lenders may need to take to assess if a credit contract will be suitable for a consumer.