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Building Your Own Home? We'll Help Finance Every Stage.

Building a home is one of the most exciting property journeys you can undertake, but financing a construction project is very different from obtaining a standard home loan. Building loans involve approved plans, building contracts, quantity surveyors, progress payments, and staged drawdowns throughout construction. Our team helps simplify the process and works closely with lenders to secure the most suitable finance solution for your project.

100% Land & Build Finance Available* 9+ banks compared R0 cost for our services 5+ progress payments during construction
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Service Overview

Building Loans Made Simple

Building finance differs significantly from a traditional home loan.

Unlike a standard property purchase where the full loan amount is paid out on registration, building loans are released in stages as construction progresses. Banks typically appoint a quantity surveyor to inspect the build and authorise progress payments at key milestones throughout the construction process.

This means lenders assess not only your affordability but also the quality of the project, the builder, the approved plans, and the overall construction budget.

Whether you're purchasing land and building simultaneously, building on land you already own, or undertaking a major residential construction project, our team helps coordinate the process and guide you through each step from approval to final completion.

Benefits

Why Clients Choose Phoenix Bonds for Building Loans

Building finance requires specialist knowledge of lender requirements, construction budgets, and progress payment processes.

01

Land & Build Solutions

Whether you're purchasing vacant land and building immediately or already own the land, we can help structure the most suitable finance solution.

02

Construction Finance Expertise

We understand building contracts, approved plans, quantity surveyor requirements, and progress payment structures, helping avoid unnecessary delays.

03

Multiple Banks Compared

Different lenders have different building loan requirements and risk appetites. We compare multiple banks to identify the best fit for your project.

How It Works

A Simple Three-Step Process

Our team helps simplify the building loan process from planning through to completion.

01

Step 1: Pre-assessment

Our team helps simplify the building loan process from planning through to completion.

02

Step 2: Review & Submit

We review your plans, building contract, cost estimates, and supporting documentation before submitting to the lenders most suited to your project.

03

Step 3: Build With Confidence

Once approved, the bank releases funds in stages as construction progresses. We help you understand the process and navigate each milestone along the way.

FAQs

Everything you need to know before you apply.

Clear answers to the questions homeowners usually ask before taking out a building loan.

What is a building loan?

A building loan is a specialised home loan used to finance the construction of a new property rather than the purchase of an existing home.

Can I buy land and build at the same time?

Yes. Many lenders offer combined land and building finance solutions.

Can I build on land I already own?

Absolutely. Existing land ownership can often strengthen a building loan application.

How does the bank release funds?

Funds are typically paid out in stages as construction progresses and milestones are verified.

What is a progress payment?

A progress payment is a portion of the approved loan released by the bank after a quantity surveyor or approved inspector confirms a stage of construction has been completed.

Do I need approved plans before applying?

Generally yes. Most lenders require approved building plans and a signed building contract.

What happens if building costs increase?

Banks expect accurate budgets. Significant cost overruns may require additional capital contributions from the borrower.

Can owner-builders qualify?

Some lenders have restrictions on owner-builder projects. Requirements vary between banks. NHBRC registration for any builder is a requirement.

Can I include a swimming pool or other extras?

In many cases, yes, provided they form part of the approved building plans and construction budget.

How long does a building loan remain valid?

This depends on the lender and project, but construction is generally expected to commence and progress within agreed timelines. The bank will likely re-assess scoring and affordability of the applicant again every 6 months or so.

GET STARTED

Start with a free assessment.

Tell Phoenix Bonds about your project and what you need the funds for. We will help you understand your financing options from there.

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