First Home Loan

We’ve teamed up with Housing New Zealand to offer this low-deposit home loan to first home buyers. This could be a sensible solution for you if: you’ll live in the home you’re buying, have a deposit of at least 5%, and your annual household income before tax is $85,000 (one borrower) or $130,000 (two or more borrowers). 

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Keep it in the family

Sharing is caring, so the saying goes, and with Family Springboard your family can help you into your first home. If you have little or no deposit, they can use their own home as security for part of your home loan. You’ll have two separate loans – your standard home loan as well as a Springboard home loan that you share with your family as joint borrowers. 

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Another option is for your family to provide a guarantee over your loan. This allows them to use their assets without having to provide any money up front (of course, you must be able to meet the repayments).

They might even decide to gift you some of the amount you need for your deposit, so you can apply for a home loan. You’ll need to show where the money came from, but your gifters won’t have any ongoing obligations to the bank.

Build your first home

How would you like to be the very first owner of your very first home? Consider building, and you’ll enjoy a brand new house that suits you down to the ground – and you may need as little as 10% depositˆ. That’s for 'ready to move in' builds such as Pre-built, turn key, house and land packages, and could also include recently completed new builds°.

We can also offer a 3 month conditional approval* so you have time to find the right land, along with an interest-only loan and an optional year-long repayment holiday# while you’re building.

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Low Equity Margins

What you need to know: If you borrow more than 80% of the property's value, a Low Equity Margin will apply. This is a percentage amount that's added to the interest rate on your home loan and reflects the extra risk involved. Once the amount of your home loan is less than 80% of the property's value, you can arrange for the Low Equity Margin to be reviewed.

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