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Starting your project

See all your planning come to fruition as your new home takes shape. 

Drawing down your loan

This is when we provide you with your home loan funds to start paying bills for your project.

While your build is in progress, your home loan will need to remain on a floating or flexible structure to allow for progressive payments. Refer to Compare Home Loans for more information on loan structures.

  • A copy of your building consent
  • Confirmation the property is insured while under construction
  • The items listed in the next section under subsequent progressive draw-downs.
  • Copies of your builders invoices that match the schedule of payments in the original contract
  • We may also need valuations at different stages (your ANZ Construction Coach will advise if this is needed).

If you want to make changes that could affect the value of your home or increase the total cost (such as more expensive fittings or adding a room), we’ll need to approve any increases to the contract. Talk to your ANZ Construction Coach before you commit to any new costs.


The amount of your loan we can advance at each stage may depend on how much your home has increased in value. Therefore, it’s best to avoid committing to certain expenses too early, e.g. committing to kitchen costs before you’ve paid for the roof. Talk to your ANZ Construction Coach about how to manage this.

Invoices and cost overruns

Keep a record of all invoices, contract variations, payments and any correspondence with your builder, architect and suppliers. Always check your invoices match the original contract to help manage any cost overruns.

What happens with cost overruns?

Despite the best planning, unexpected costs can still happen. What’s important is how you manage these. When you receive an unexpected cost, firstly check your contract to see if it’s covered.

Discuss the cost with your ANZ Construction Coach and if you need to borrow additional funds, this will be assessed on the current value of your home and whether you can meet the repayments with the additional lending.


Remember, as your loan increases with each progressive draw-down, so will your interest costs. Talk to your ANZ Construction Coach about the best way to manage your increased loan.

Eligibility, lending criteria, terms, conditions and fees apply. Interest rates and fees are subject to change.

A copy of the Reserve Bank's General Disclosure Statement and General Terms and Conditions is available on this website or on request from any ANZ branch, free of charge.

This material is for information purposes only. We recommend seeking financial advice about your situation and goals before getting a financial product. To talk to one of our team at ANZ, please call 0800 269 296, or for more information about ANZ’s financial advice service or to view our financial advice provider disclosure statement see