*No principal repayments will be required and interest costs will be added to the loan. The cost of interest capitalisation will be included in the approved total home loan amount and must not take the total LVR over 90%. The repayment holiday will end on the earlier of 12 months following the initial drawdown or one month following the final construction drawdown.
#Trusts, businesses, and loans with 3 or more borrowers are not eligible. Only available to customers who have not previously held a Westpac credit card. After 2 years the standard annual account fee for the applicable card at that date (which may be higher than the current rate) will apply. Cannot be used in conjunction with other promotional offers other than a balance transfer offer.
** If lending is over 80% LVR (loan-to-value ratio) for owner occupied properties or over 65% LVR for investment properties, it must be a new build with a single fixed price contract that specifies a completed, ready to live in property. Applications must include Master Builders Guarantee or a Certified Builders Guarantee, which includes ‘non-completion’ cover.
Westpac Contract Works Insurance is not guaranteed and will be underwritten on a case by case basis. The availability of any insurance is not guaranteed and is subject to the acceptance and approval of a complete application. Terms, conditions, exclusions and limits apply to insurance cover and more details can be found in the relevant policy document, which is available at www.westpac.co.nz/insurance or on request by contacting us on 0800 809 378. Westpac Contract Works Insurance is arranged by Westpac New Zealand Limited (“Westpac”) and underwritten by IAG New Zealand Limited (“IAG”). Westpac does not guarantee the obligations of, or any products issued by Lumley, a business division of IAG. Westpac may receive commission payments as a result of the arrangement of Lumley insurance policies. Fee discounts and waivers only apply to any new credit cards or insurance policies. Westpac’s current credit card lending criteria apply to all applications and transfers. Credit Card Conditions of Use apply. hotpoints® is a registered trade mark of Westpac Banking Corporation. Hotpoints terms and conditions apply. You can get a copy of the current disclosure statement for Westpac New Zealand Limited from any Westpac branch in New Zealand free of charge.
Westpac’s current home loan lending criteria and terms and conditions apply. An establishment charge and a Low Equity Margin may apply. An additional fee or higher interest rate may apply to loans if the application is accepted but does not meet the standard lending criteria.