Construction & Renovation Loans
From plans to handover — get the right finance for your build or renovation.
Why This Matters
Building or renovating can be exciting — but getting the right finance for it is often the hardest part. Banks treat construction loans very differently from standard mortgages, and if you don’t present your application properly, you’ll face delays, extra conditions, or outright declines. Whether you’re planning a new-build in Tauranga, adding an extension in Pyes Pa, or renovating an older home in Welcome Bay, we’ll help you structure everything correctly from day one.
At Best Mortgages, we guide you through fixed-price build contracts, loan drawdowns, valuations, progress payments, and all the fine print lenders expect. We explain how construction loans work in simple terms, help you choose between turn-key and progressive-payment builds, and make sure your loan is approved in the right structure for your budget. Renovating instead? We’ll review your equity, calculate how much you can borrow, and compare options for top-ups or renovation loans. From plans to final inspection, we take the stress out of building or renovating.
What We Do For You
Loan Negotiation
We compare offers from multiple lenders and negotiate the best terms — so you don’t have to chase banks.
Application Support
We help you complete all paperwork, gather documents, and deal with lender requirements from start to finish.
Rate & Structure Comparison
We find the loan structure that fits your goals — not just the lowest rate.
KiwiSaver & Deposit Help
We’ll guide you through using KiwiSaver or applying for First Home Grants in the smartest way possible.
Specialist Lending
Self-employed? Low deposit? Credit hiccups? We find flexible options where banks say no.
Ongoing Support
You get real advice, regular updates, and personal support — even after you’re approved.
Case Study: Construction Loan Win in Tauriko
Daniel and Tessa were building their first home in Tauriko using a progressive-payment build contract. Their bank was slow, kept asking for extra documents, and couldn’t give them a clear answer on valuations. They contacted Best Mortgages frustrated and behind schedule. We reviewed the contract, sourced an as-completed valuation from a lender-friendly valuer, and matched them with a bank offering flexible drawdown terms and lower progress-payment fees. Their loan was approved in a week, and the build stayed on track. They moved in three months earlier than expected — and avoided thousands in delays.
Here’s How It Works
We keep things simple and stress-free. Our process is designed to help you move forward with confidence — no bank speak, no wasted time.
We calculate your borrowing power and match your build type with the right lenders.
We check your build contract, plans, specs, consents, and valuation requirements.
We compare lenders that are strong with construction or renovation lending.
We help manage progress payments, final inspection, and transitioning to a normal mortgage.
Your Questions, Answered
How do construction loans work?
Construction loans release funds in stages as your build progresses. You usually pay interest only on the amount drawn so far. We guide you through the contract, valuation, and progress-payment requirements, and match you with a lender suited to your build type.
Do I need a fixed-price contract to get approved?
Most lenders prefer fixed-price contracts because they reduce risk. If you’re using a builder or package that isn’t fixed-price, we’ll explain your options and help structure the application so it still has a strong chance of approval.
Can I borrow extra for renovations?
Often yes. If you have equity in your home, we can arrange a top-up, renovation loan, or restructure to free up funds. We’ll help you calculate how much you can borrow and compare lenders.
Do I need a new valuation?
For construction builds, yes — most lenders require an “as-completed” valuation. We arrange this with lender-approved valuers to avoid delays or rejection.
Can you help if my bank is slow or unresponsive?
Yes — construction and renovation lending is complex, and some banks are slower than others. We work with lenders known for faster turnaround so your build stays on track.
Ready to Finance Your Build or Reno?
Building should be exciting — not stressful. We’ll help you structure it right from the start.
Whether you’re buying your first home, refinancing for a better deal, or planning your next investment move, now’s the perfect time to get expert advice. Our friendly team at Best Mortgages is based right here in Tauranga and helps Kiwis across the Bay of Plenty make sense of these market shifts. We speak plain English (and a bit of Kiwi slang when needed) and work for you – not the banks – to find the right solution.
Ready to explore your options? Contact us today for a free, no-obligation chat and we’ll walk you through the latest rates, rules, and opportunities tailored to your goals. Let’s turn those property dreams into reality this spring – we’re only a phone call or coffee catch-up away. See our reviews to know why we are called the best. Also stay up to date with our latest news for the best tips and advice.
Best Mortgages — Operated by Ewald Biesenbach (FSP 320426) under The Best Limited (FSP 724451 – NZBN 9429043352067). Licensed under the Financial Services Legislation Act 2019.
