Pricing Changes for Guarantee Applications and Fees
28 March 2024
From 1 April 2024, the prices of our market-leading Master Build 10-Year Guarantee and some related fees are increasing.
This adjustment is crucial so we can continue to provide a high level of service and maintain the integrity of our guarantees.
All guarantee applications received before 1 April 2024 will be processed at the current pricing.
Note, this change does not affect our Master Build Multi-Unit 10-Year Guarantee.
The new pricing structure is outlined in the table below:
.png)
Other fee increases
We are also increasing the cost of the late fee and transfer fee.
Why the changes are needed
Over the past two years, we’ve worked hard to maintain our prices. But the industry landscape has continued to evolve, presenting ongoing challenges and increased costs.
Factors including changes in the regulatory environment, rising administrative expenses related to guarantees, and increased claim costs, have made it necessary to reassess and adjust our pricing structure.
While price increases are never welcome, it’s important to remember and discuss with your clients the benefits of the guarantee. It represents a fraction of the build cost - less than 0.5% in most cases, which is a small price to pay for the peace of mind it provides.
More information
New guarantee booklets and brochures will be available soon.
If you have any queries, please phone 0800 762 328 or email
help@masterbuilder.org.nz