Paying for your renovation

Sustainable energy loans

You can apply for a sustainable energy loan if your renovations include adding a system that produces sustainable energy for your home, such as solar panels. If your sustainable energy loan is $5000 or over, we’ll kick in $2,000 over four years to help you pay it off faster.

More on sustainable energy loans

Topping up your mortgage

Topping up your mortgage is usually cheaper than getting a personal loan or using a credit card, because home loan interest rates are lower.

More on home loan top-ups

Tips to help your renovation budget go further

Before you start

  • It’s all in the planning — work out everything you’ll have to do to finish your project, and do your research to get a good idea of what it’ll cost you.
  • Set your budget — we reckon you’ll need a 10% buffer to cover quotes that run over and any nasty little surprises.
  • Don’t put in more than you’ll get out — if you’re renovating to sell, talk to us or a local real estate agent to make sure you’re adding more value than what you’re spending.
  • Cover yourself — before knocking out any walls, check with your insurance company that your house and contents policy covers you during renovations. And if you’re not getting a building consent, make sure the work you’re doing will be insured.

Getting stuck in

  • Keep track of your budget — don’t let all that planning go to waste. Track your spend and upcoming costs using a budgeting tool.

Done and dusted

  • Pay it off as fast as you can — the longer you take to pay off anything you’ve borrowed, the more you’ll pay in interest.
  • Update your insurance — major renovations may affect the amount your house is insured for, so talk to your insurance company.

Interested? Lets talk

Get in touch or apply now

Kiwibank’s lending criteria, terms and conditions, and fees apply