Tips for building your deposit

We know saving for a deposit can be hard. But we can help. Here are some tips to help you grow your deposit and get into your first home sooner.

Low Deposit Options

Low Deposit Options - Whilst in most cases people will require a 20% deposit when buying their first home, there are other ways in with a smaller deposit. See if you're eligible.

Savings

Join HomeSaver our special savings and home loan package, designed to help you fast-track your savings towards your first home. You'll receive dedicated coaching and you could receive a $1,000 first home booster (upon drawdown on a Westpac Home Loan). Find out more.

Savings

Consider bumping up KiwiSaver contributions so you won't be tempted to dip into your savings. Make sure you check if you're eligible for a KiwiSaver first home withdrawal first. Learn more about using KiwiSaver for your first home.

Savings

Monitor your spending in real time with CashNav, our money management app, to see where you could trim your spending. Find out more.

Savings

Westpac Salary Splitter - split your income into accounts as soon as it comes in - a great way to ensure you commit to your savings! Find out how to set up Salary Splitter

Savings

Make sure you're in the right savings account for you. Check out all of our savings options. You could even consider a PIE account for the potential to pay less tax on your savings.

Savings

Watch our Managing Your Money videos - to help you set your goals, and start your home ownership journey. Watch them now

Savings

Consider ways you could increase your income - from picking up a second job, having a garage sale to selling unwanted items on TradeMe, you could be sitting on a goldmine.

Savings

Attend free property seminars and read articles - learn as much as you can so you are well informed along your home ownership journey.

Savings

Use text alerts - to avoid going over budget. Find out how to set up text alerts

Savings

Check out Save on Fees to make sure you're avoiding any unwanted surprises.

Not sure where to start? Contact one of our Mobile Mortgage Managers for a 'no obligation' chat about what we can do to help you into your first home.