Looking for some help buying your first home?

We can give you advice on different properties that take your fancy, help complete due diligence to avoid making any costly mistakes and of course, get you the best possible deal on your mortgage from a bank that best suits your needs.

Mortgage Adviser

The Home buying process

Plan to get ready

If you would like to start thinking about saving towards a deposit, and unsure on where to start, we would love to help. We can help you formulate a plan to help you reach your goals faster and keep you on track.


A deposit can be made up of savings, KiwiSaver, family contributions, and any government grants you may be eligible for. While you typically need 20% deposit to get the best interest rates and offers from banks, there are options for deposits as low as 5%.


If you have been in KiwiSaver for at least 3 years, contributing at least 3%, you may be able to use your KiwiSaver towards your deposit which enables you to withdraw contributions made by yourself, your employer, and the government. You need to meet other requirements such as; it needs to be your first home, the home needs to be in New Zealand,you need to live in the home for at least 6 months and you’ll have to keep a minimum $1000 in your KiwiSaver account.

If you're considering using KiwiSaver towards a home in the next couple of years, it’s a good idea to review your KiwiSaver fund choice. While a growth fund is good over a longer term, you’ll typically want to go low-risk to reduce volatility so you know how much you should have when it comes time to purchase.


Have you been contributing to kiwisaver for more than 3 years? You could be eligible for the kiwisaver First Home Buyers Loan. If you are building a new home, you could receive up to $10,000 and if you are buying an existing property, you could receive up to $5000. Two people can pool their grants together for up to $20,0000. We can help you determine if you are eligible and help you apply for it.

Some of the requirements are:

-You must earn less than $95,000 as an individual
- You must earn less than $150,000 as an individual with dependent.
-You must earn less than $150,000 combined as a couple
-You must not own any property already
-You need to have at least 5% deposit

Along with these requirements, the property you wish to buy must be under a certain price cap. You can check these caps here.


Contributions from family are more and more common when getting into your first home and can be done a couple of different ways; Gifting and Guaranteeing. Gifting is when someone "gifts" you money towards your deposit. The bank will require a 'gifting certificate' to certify where the money came from and that it does not need to be paid back. Guaranteeing a loan means that the person helping you will use the equity in their home as security for your loan, making them a guarantor. Once you reach 20% equity in your home, by valuation or repayments, they can be removed as a guarantor.


Do you have bad credit or maybe even been turned down for a mortgage before? Sometimes people don't even realise they have bad credit until it comes to applying for a loan, and while getting a loan can be more challenging, it certainly isn't impossible. Talking to a mortgage adviser is a great first step, we will put an application together for you to see where you stand, we will then go over it with you and outline any area that needs improving before it gets sent to the bank. If the improvements can’t be made straightaway, we can make you a plan to get you where you want to be.

APPROVAL (Found a property)

If you’ve already found the home you want to buy then you can jump straight to an approval to confirm your funding for your new purchase. We’ll help find a lender who's just right for you.

PRE APPROVAL (Looking for property)

Getting a pre-approval done is a great way to start the house buying process, you will know exactly how much you can spend on your home and will be ready when you find the right one for you. Pre-approvals last for between 60-90 days and are easily renewed after that too.


There are plenty of reasons why you need a good lawyer during the house buying process, after all, good advice is never expensive. Now’s a good time to find a lawyer, if you're using Kiwisaver you’ll need their help in accessing it for your deposit. A good lawyer will outline the risks of the property you want to purchase so you know exactly what you are getting into. They also play a big role when it comes to settlement. Before you pop the champagne, there are a few things that need to happen between your lawyer, the vendor's lawyer, and your bank in order to make the settlement happen. It can sometimes take a while for this process to be completed and you will have to wait for settlement to take place before you can move in and celebrate.


There are a lot of pros to buying an existing home and it's easy to see why it's the most common way to purchase a property. You get to choose the area you would like to live in, walk through the property before buying it and it's ready to move in to as soon as you settle. While the character of an older home is unmatched, the maintenance and renovation costs can be a lot higher. The due diligence process is especially important when buying an older home, it will tell you what issues need fixing which can help you determine how much to spend on the property. If the home needs renovations, you will need to factor this into your budget too.


Auctions can be a nerve-wracking experience and you need to have done all your due diligence beforehand which can be a costly exercise so it pays to be a little picky on which houses you are willing to go to auction for. Your due diligence will involve; building reports, Lim reports, getting a valuation done, and anything else the property requires. You will also need to arrange unconditional finance before auction day. We will help you get everything done before the big day so you can focus on your bidding strategy.


Buying a house in one of these ways is a little easier than an auction but you still need to make sure all your due diligence is done correctly. You can either do the due diligence required before you make an offer or after. Doing it before helps you to make an informed offer based on the building report and Lim report. If you prefer to do your due diligence after making your offer, it's very important that you make the offer ‘subject to’ the due diligence required so if something is found, you can either withdraw or alter your offer accordingly. We can help you navigate the due diligence process as well as organising your finance.


Building new can be an exciting project and there are a few different options; you can buy off a plan, do a house and land package, or design a home to suit your section. Building new lets you create a home that best suits your needs while also being warmer, drier, and better insulated. Building a new home from scratch can take some time and can get expensive easily so it's important to keep a realistic timeline and budget.


If you have found your own slice of land or just want to build a home that's a little more tailored to your specific needs, ‘design and build’ may be an option that's right for you. Once you have found a piece of land you would like to build on, the next step is to find a builder to work with to design a home that's well suited to your section. Building a home can be a very exciting project but it's important to know that due diligence on a bare land section still needs to be done. Financing a ‘design and build’ home is generally done as a construction loan where progress payments will be made throughout the build as invoices come in. We will help you navigate this process and make sure all progress payments are made on time.


Buying off plans is common with apartments and townhouses, especially in metropolitan areas. When buying a home this way, you will pay a deposit to secure the property, then pay the remainder on settlement day. It’s very important to do your due diligence, such as, researching the developer building the complex and hiring a good lawyer who will outline the risks for you. If your due diligence checks out and finance is sorted, you get to sit back and wait for your brand new home to be completed.


House and land packages are a great option for first home buyers and come at all different price points. Building companies will already have the section and a house designed specifically for that section. If the house hasn't started being built yet, you can often make changes to the house too. It's important to look around the showhomes and get a good feel of what you like in a home and find a building company that you trust to build your first home.


Most mortgages have an element of a fixed rate home loan, it provides certainty for the time that you decide to fix for which can be anywhere between 6 months to 5 years, although the longer you fix for, the higher your interest rate will be. For the duration of your fixed rate home loan, you will be protected against rising interest rates but you also won't be able to take advantage of lowering interest rates either. Deciding on how long to fix for generally depends on what the market is doing and whether interest rates are picked to go up or down. We can help you navigate this and give you our best advice based on what's happening in the current market.


Most mortgages have an element of a fixed rate home loan, it provides certainty for the time that you decide to fix for which can be anywhere between 6 months to 5 years, although the longer you fix for, the higher your interest rate will be. For the duration of your fixed rate home loan, you will be protected against rising interest rates but you also won't be able to take advantage of lowering interest rates either. Deciding on how long to fix for generally depends on what the market is doing and whether interest rates are picked to go up or down. We can help you navigate this and give you our best advice based on what's happening in the current market.


This loan product has a variable interest rate which is largely determined by changes in wholesale interest rates which can change on a regular basis and in some cases move quite fast. Floating interest rates generally carry a small premium with their interest rate being higher than some of the shorter fixed rate terms, and this is due to the flexibility they offer. There is no penalty to repaying a floating rate loan early, so this can suit borrowers who are looking at changes in circumstances in the near future.


You only need to make the interest installments on these loans and do not need to repay the original principal. These loans still need to be repaid at some point, so you’ll need to have a clear plan of how that will happen. Because the repayments are significantly lower, they are typically used by property investors seeking to keep their investments cash flow positive or neutral.


Before you host your house warming, it is crucial to sort out what insurance you will need to protect your new home and contents. We can organise an insurance review for you to assess what you need and get you the best deal possible.


In some circumstances your lender might require a property valuation, typically if you have less than 20% deposit or are buying a home from a family member. If that’s the case we’ll organise this for you.

Furnishing your home

If you have moved from a shared flat into your own home, likely, you won't have all the furnishings you need. Setting up your new home can be an expensive operation, especially if the furnishings you need can't be lived without, i.e. fridge or washing machine. While a ’hire purchase’ facility can hurt your application before your loan is approved, once you have settled on your home, an interest-free hire purchase can be a good option to furnish your new home with the things you need. Just remember that along with mortgage repayments, you will have to make repayments for the items purchased, so make sure it all fits within the budget.


Congratulations homeowner, you did it!

Step 1: Getting started
Step 2: Confirming funding
Step 3: Buying an existing home
Step 4: Buying a new home
Step 5: Setting up your home loan
Step 6: Finalising your purchase

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The Ultimate Guide for First Time Home Buyer Loan

Mortgage Adviser

Purchasing your first home can be daunting, but it doesn't have to be.

By the time you’ve finished reading, you’ll have all the information you need to kickstart your journey to success and purchase your first home.


Reasons to choose us:


Free Service

We don't charge for our services unless it’s something complex, and if that's the case we’ll tell you upfront.


Better mortgage rates

We deal with all major banks, and we know who's competing for new customers at any given time and who will give the best deal. We do the negotiation for you.


Better Advice

We advise on things such as loan structure, budgeting and our view on lowest interest rates. Bank employees technically aren't allowed to give their view on these and if they do it’s in favour of their bank.

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