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Grow – Land Mortgages

Get a Head Start with GrowPay’s Land Mortgages

Your land is more than just property; it's the foundation of your livelihood and legacy. At GrowPay, our Land Mortgages are designed for the strategic farmer ready to make significant, long-term investments in their operation. Whether you're purchasing new land, refinancing your existing farm, or undertaking major infrastructure projects, we provide the robust financial backing you need to secure and grow your farm's future.

Grow - Land Mortgages

*Rates valid from June 16, 2025. Subject to change without notice.

6.5% - 7.5%*

Up to 25 years P&I

Grow - Land Mortgages

GrowPay's Land Mortgages Loans provide robust financing to acquire new land, refinance property, or make significant farm improvements, securing your farm's future.

On a principal and interest basis with a choice of fixed or floating rates

Maximum of 25 years P&I

Flexible line of credit available for seasonal requirements

Borrow from $500,000 to $10 million

On a principal and interest basis with a choice of fixed or floating rates

Maximum of 25 years P&I

Flexible line of credit available for seasonal requirements

Borrow from $500,000 to $10 million

Eligibility Conditions

To be eligible for a Grow - Land Mortgages you’ll need to meet the following criteria


  • Must have a proven track record with a minimum of 5 years experience.

  • Must have a minimum of $100,000 deposit.

  • You are 18 or older.

  • Must be NZ citizen or permanent resident.

What we require

For Growpay's Land Mortgages you will need to demonstrate a strong savings record and have sufficient security and or support securities that will underpin any loan.

Government-issued ID

Your driver's license or passport

Proof of address

A utility bill or bank statement with your address

Documents 

Balance Sheet & Budgets

Disclosure Statement

GrowPay has partnered with Heartland Bank Limited to provide access to a range of personal and business loan products. Heartland Bank Limited is a licensed registered bank, regulated by the Reserve Bank of New Zealand under the Reserve Bank of New Zealand Act 1989, and registered as a Financial Service Provider in New Zealand (FSP number: FSP53901).

All loan applications submitted through GrowPay are referred to Heartland Bank and are subject to Heartland’s independent credit assessment, lending criteria, and responsible lending obligations under the Credit Contracts and Consumer Finance Act 2003 (CCCFA). GrowPay does not provide credit decisions or financial advice and acts solely as a digital interface.

To view loan terms, fees, and eligibility requirements, please refer to https://www.heartland.co.nz/about-us/documents-and-forms or consult Heartland Bank’s or GrowPay for full lending documentation. GrowPay does not provide credit decisions or financial advice and acts solely as a digital interface. 

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FAQ

Still have a question?

1. Can I use a Land & Capital Loan to purchase a farm that is currently leased?

Yes, this loan product is suitable for financing the purchase of agricultural land, whether it's a new acquisition or transitioning from a lease arrangement to outright ownership.

2. What is the typical process for applying for a Land & Capital Loan with GrowPay?

Our process is designed for efficiency. You can start with an online enquiry, and our rural finance specialists will then work with you to gather necessary documentation and guide you through to approval.

3. Does GrowPay offer options for fixed or floating interest rates on these loans?

GrowPay understands the need for flexibility. We offer various interest rate options, including both floating and potentially fixed rates, depending on the specific product and market conditions. Please discuss your preference with our team.

4. Can I use this loan for smaller land improvements, like a new fence line or minor shed repairs?

While capable of funding large projects, the Land & Capital Loan is generally suited for significant, long-term investments that materially add to the farm's value. For smaller, ongoing capital expenses, other GrowPay solutions might be more appropriate.

Considering a loan but have some questions?  We understand!

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