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Construction Loan β€” Case Study

Turnkey New Build Finance
Secured Without Stress.

Last updated: July 2026

A family seeking a construction loan in Christchurch navigated the complexities of progress payments and turnkey builds with Finch's expert guidance.

10%
Deposit
$0
Valuation Fees
9mo
Build Time

The problem.

Building a new home requires specialised construction finance. Mark and Lisa had a 10% deposit and wanted to build in a new subdivision in Christchurch.

However, they were completely confused by the difference between progress payment loans and turnkey contracts, and they were worried about paying a mortgage and rent simultaneously during the build.

How we solved it.

1
Turnkey contract negotiationAssessed the builder's contract and advised the clients to negotiate a "turnkey" arrangement (10% deposit upfront, 90% on completion).
2
First Home Loan exemptionSecured an exemption under the First Home Loan scheme to get the new build approved with only a 10% deposit.
3
Optimised drawdownStructured the construction loan so the bulk of the mortgage was only drawn down upon final code of compliance.
4
Saved on valuation feesSaved the clients thousands in registered valuation fees by using a lender that accepted the fixed-price build contract value.

The result.

The clients avoided paying double housing costs (rent + mortgage) during the 9-month build process.

The construction loan settled smoothly upon completion, and they moved into their brand-new home with zero unexpected financial surprises.

"Getting a new build construction loan was daunting, but Finch made the progress payments and turnkey structure completely transparent. We couldn't have built our dream home without them."
β€” Mark & Lisa Thompson, Christchurch, New Build Buyers

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Mukhtar Kiyani

Written by Mukhtar Kiyani

Director & Financial Adviser Β· FSP1011206 | FSPR FSP1011125

Mukhtar has 15+ years of financial advisory experience across NZ mortgage lending, investment structuring, and first home buyer guidance. He founded Finch Mortgages with a mission to make expert, transparent mortgage advice accessible to every Kiwi. Based in Auckland, advising clients nationwide. View Profile β†’

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