Building a home

At TSB, we can provide pre-approval which lets you know how much you can borrow, subject to certain conditions.

How to get pre-approved

• Complete our online home loan application form, or
• Contact one of our lending specialists, who can help you through this process.

One of our lending specialists will get in touch within three business days to discuss options with you. 



Once pre-approved, you’re ready to start planning your build!

There are a few ways to build a home - choose the one that suits your lifestyle and budget:

House and land packages (turnkey)

• Sale and purchase agreement.
• No progress payments - just pay the balance when the build is complete.

Custom build

• Buy a section and choose your own design. You can use a pre-designed plan from a building company or work with an architect to create something custom.
• Just remember, custom changes can increase costs, so it’s smart to budget for flexibility.
• Make progress payments as each stage of the build is completed.
• If you're looking to buy a section first, get in touch with our lending specialists. They can help get your finance sorted and guide you through the application process.

First home buyers


If you're building your first home, there are special options and support available to help you get started. Talk to us about how we can help.

Get building consent


Once your plans are ready, they’ll need to be submitted to your local council. Your builder can usually handle this for you.

Once your building contracts and agreements are sorted, get in touch with your lending specialist. We'll finalise your approval and work with you to structure the loan in a way that suits your build and budget.



You may need to send us:

• A copy of the sale and purchase agreement for the section.
• A building contract from your registered builder.
• Detailed plans and specifications.
• Council consents (or proof they’ve been submitted).
• Quotes for things like landscaping, driveways or fencing (if they’re not part of the build).
• Registered Valuer’s report.

With building consent and finance approved, construction can start. This is where your home starts to take shape.



Progress payments

If you're not buying a turnkey property, your loan will be drawn down in stages:

• Your cash deposit is used first.
• Loan funds are released as each stage is completed.
• You’ll need to provide the builder’s invoice to release each payment.
• We may ask for an updated Registered Valuer's report.
• Your loan will need to be on a variable rate while progress payments are being made during the build. Once everything’s been paid and your loan is fully drawn, you’ll be able to choose whether to lock in a fixed rate or keep your loan on a variable rate.

As your home nears completion, your builder will confirm a handover date—the day you get the keys!
Before the final payment is made, you’ll need to provide:

• A copy of your house insurance policy.
• A completion certificate from your valuer.

Other things to consider:



Landscaping


Check if landscaping is included in your build contract. If not, make sure to budget for it separately.

Insurance


You’ll need house insurance in place before handover. Our partnership with Tower gives you access to a range of house and contents insurance options.

Council rates


Look into your local council’s annual rates so you can factor them into your ongoing budget.