The smarter, fairer finance option for builders

At Squirrel, we like to turn traditional banking on its head. There's no reason why you should be slammed with extra fees and high interest rates to fund your build. That's why we've come up with a better way.

Talk to us about whether Turnkey is right for you
Construction worker smiling

Benefits of using Squirrel Turnkey lending

  • Fair pricing leaves more in your back pocket
  • Simple streamlined process means less paperwork
  • Get better margins on turnkey
  • Faster build times
  • More buyers

Not a builder? Find out about turnkey lending for buyers here.

Three reasons why you should be thinking about turnkey:

1. It increases the size of your available market.

A number of buyers can't do house-and-land packages: First home buyers with less than 15% deposit, upgraders with an existing mortgage and retired buyers who need to sell first. 

2. Turnkey reduces the risk and speeds up your build.

You control the build process and progress payments rather than leaving it with the buyer and their lender.

3. Chances are, you'll get a higher price.

With turnkey, your buyer also has less risk, finance is easier and they won't have to fund it themselves.

We are committed to helping the New Zealand build industry improve processes, reduce costs and build more new homes.

Two options for Squirrel Turnkey lending

Presold turnkey

Where a builder has a buyer for a property we will fund up to 80% of the agreed purchase price on the sale and purchase agreement (excluding GST.)

No registered valuation is required which saves you money. In most cases we are happy to work with the agreed price provided the buyer is unconditional and has paid a deposit.

Spec built turnkey

Squirrel will fund up to 70% of a registered valuation or 70% of land at purchase price for a residential house under construction that has not yet been sold.

If you get a sale part way through, we’re happy to increase it to 80%.

Townhouses development

Progress payments minimise paperwork

Squirrel will advance your funding against our standard progress schedule*:

Progress Funds advanced
Excavation 7.50%
Floor down 7.50%
Framing complete 15%
Roof on, wrap and cavity 10%
Enclosed 25%
Lined 15%
Prepaint 10%
Completion 10%


*We are happy to agree to an adjusted schedule with builders if your build process is different.

What do you need to provide Squirrel?

For progress payments, we only require a photo of the build and a photo of the latest council inspection.

How do you know if you’re eligible for Squirrel Turnkey lending?
  • You will belong to a reputable industry body (Master Builders or
    Certified Builders)
  • Your business will have been trading for a minimum of 2 years
  • Good credit history
  • Part of a group builder or demonstratable good systems and

Squirrel's credit policy:

  • Maximum loan per house build of $1,000,000
  • Maximum lending per builder of $2,000,000
  • Maximum LVR 70% of registered valuation or 80% of sale price
Keys against bullseye background

Choose the right type of lending for your project

One-off Turnkey

This is a loan that is available for a single build. It suits builders who only have an adhoc need for funding builds.

Turnkey facility

Squirrel can approve up to a $2m turnkey facility for your build company.

  • Renews annually
  • Allows you to manage multiple projects through the same facility
  • One set of loan agreements reducing paperwork and transaction costs

Sounds great. How do I sign up?

The first step is to talk to one of our new build specialists about your next turn-key project.

Marilize Visser
Matt Evans

Marilize Visser and Matt Evans - Squirrel mortgage advisers

Not sure where to start?

We're happy to help. Get in touch with the team and have a chat.