Getting Finance For Your New Axis Home At Hobsonville Point

As specialist new build mortgage brokers based in Hobsonville we get asked a lot about financing new builds including the new Axis homes for first home buyers.

There has been a lot of frustration about getting finance for Axis homes and particularly due to the timeframe of the build and some of the clauses within the contract.

Remember that Hobsonville Point is not a standard suburb, and a new Axis home is quite a new concept too.

Axis Homes Are A Great Opportunityaxis-home

My name is Stuart Wills and I personally live in Hobsonville point and two of our immediate neighbours are living in Axis homes.

The Axis series homes provide both one and two-bedroom homes. These homes may be stand-alone, semi-detached (in a pair), terraced (in a row) or apartments. In Hobsonville Point you will find a range of Axis homes in among other homes so there is definitely no stigma like has been seen in some previous low cost  housing areas. The homes are small, designed within a budget and are priced for first home buyers but are built cleverly with high ceilings which make them feel quite spacious.

People who have or are purchasing Axis homes in Hobsonville Point will no doubt benefit from the popularity of the area and after they have owned the home for 2-years they would be able to benefit from the increased value and trade up into a bigger house within Hobsonville Point or another area.

It is a clever way for people to get onto the property ladder, but there are some restrictions.

Who Can Buy Axis Homes?

Axis Series homes are designed for people who earn an average Auckland wage. To ensure these homes go to the people who they are intended for the Minister for Housing has asked that buyers meet some simple criteria. Their owners:

  • Must be New Zealand permanent residents or citizens.
  • Cannot put the home in the name of a Family Trust, company or nominee.
  • Must have a household income no higher than $120,000 gross per annum.
  • Will agree to live in the house for a minimum of two years.

Due to the demand for Axis Series homes, and to ensure fairness, the builders have introduced a ballot system. If you are interested in buying an Axis home you need to register your interest and then names are drawn from the ballot with those people getting the first opportunity to buy the homes.

CLICK HERE to learn more about the process of buying an Axis home.

Axis Homes Are Sold Off The Plans

Hobsonville Point is a new suburb being built and the Axis homes are included within the overall design.

The building companies that operate within Hobsonville Point are required to provide some affordable housing and that is why there are such a number of Axis homes. Most homes in Hobsonville Point are sold off the plans before building commences and Axis homes are no different. Sometimes you will see brand new completed homes for sale, but with Axis homes there is a requirement to live in the home for 2-years so you will not see these homes on the market until at least 2-years after they have been built.

Of course most people do not like to wait while a house is being built, and this is especially the case with first home buyers who are generally excited about buying a home and really just want to shift in.

It can take up to 12-months (and often longer) from the time you buy a Axis home to the time it is completed and ready for you to move in.

Getting Finance For Your New Axis Home

When you buy a new home you want to be sure that getting finance will not be a problem and for this reason most people will want to talk to their bank or a mortgage broker and get pre-approved.

It will be a fixed price contract where you pay a deposit and the balance on completion when you take possession.

There will be two issues when getting finance for an Axis home;

  1. The time it takes to build will exceed the maximum time a bank will hold a pre-approval for
  2. The Hobsonville Land Company caveat is not accepted by all banks

The contract contains a clause allowing for Hobsonville Land Company to lodge and maintain a caveat against the title of the property, and some banks are not comfortable with this – but other banks fully understand the reason and accept it.


It is important that you get good advice from a mortgage broker with experience both in the Hobsonville area and with knowledge of the contracts used for Axis homes. My name is Stuart Wills and I am a mortgage broker with almost 20-years experience, but more importantly I have been arranging finance for a lot of first home buyers who are purchasing new homes off the plans and more recently the Axis homes in Hobsonville Point.

Another place for information and discussion is the Kiwi First Home Buyers Group on Facebook. We set this up some time ago and it is a public group designed as a place to ask questions and share ideas etc. Please go ahead and join the group and ask any questions that you have. I monitor this but you will also get comments from other people that may have had exactly the same questions or issues.

You can find me at our new offices in Hobsonville or can contact me on mobile (phone or text) or email.

Stuart Wills (Mortgage Broker)mortgage-supply-co

Phone: 0800 100 939

Mobile: 021 984 340

Email: stuart.wills@mortgagesupply.co.nz