Building a home is one of life’s most exciting projects, but the financial side can be complex. From progress payments to council valuations, construction lending requires a specialist touch.
At Genesis Mortgages, we simplify the process, ensuring your funding is rock-solid so you can focus on the build.
Unlike a standard mortgage, where you receive all the funds at once, a construction loan is a living facility. It grows alongside your home through a process called progress draws.
A construction loan helps fund each stage of your build while keeping repayments more manageable during the construction phase.
We help factor in a 10 to 15% contingency fund so unexpected price increases do not stop your build.
Some banks suit turnkey packages, while others suit build-only contracts. We find the lender that fits.
We coordinate the as-complete valuations required by banks to confirm the final project value.
We help ensure guarantees, insurance, and council consents meet bank requirements before work begins.
We help manage staged payments so your builder is paid and your build stays on schedule.
Once the build is complete, we help transition your loan into a standard mortgage structure.
Construction loans are released in stages to ensure the bank’s security matches the value of the build.
Funds are used to secure the site or support the initial land purchase.
Released once the site is prepared and the slab is poured.
Released when the main skeleton of your home is complete.
Released once the roof and exterior are complete and the home is watertight.
Supports wiring, plumbing, linings, fixtures, and internal works.
Released when the keys are handed over and the Code Compliance Certificate is issued.
We review your budget, land value, and build quotes to establish your total borrowing power.
We choose a lender based on your specific build type, such as fixed-price or labour-only.
We submit your plans, contract, and as-complete valuation to secure a firm yes from the bank.
Funds are released to settle the land purchase or pay the initial builder’s deposit.
As your builder reaches milestones, we manage fund release to keep the build on schedule.
Once the CCC is issued, we help switch you to a standard mortgage and secure suitable rates.
For a standard build, 10 to 20% is typical. For some turnkey packages, you may be able to start with as little as 5 to 10%.
Yes. This is a common way to fund the land deposit or the initial stages of a build.
It is a guarantee from your builder that the cost will not change. Banks often prefer these because they reduce the risk of running out of money mid-build.
You usually stay on interest-only payments until the build is 100% complete and you have moved in.
Do not let the paperwork stand in the way of your dream home. Genesis Mortgages helps structure construction finance clearly, from first drawdown through to completion.
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