Tom Lake had already planned his trip to the United Kingdom to see his family. He had some news to tell them – he’d bought a house. And he had some more news – he wasn’t paying interest on his home loan for the first year.
Tom came to New Zealand from the UK 7 years ago on a working holiday, fell in love with the country and became a resident. He had recently decided that it was time to take that next step and purchase a home here, as what he would be paying on a home loan was not too dissimilar to what he was paying in rent on a city centre apartment.
The hunt for Tom’s first house began in the New Year; he started searching for a place with a garden and off-street parking, as he looked to move out of the city centre to the suburbs.
Along Tom’s journey there were a few setbacks. He looked at over 20 properties and narrowly missed out on a few. But with hard work and perseverance, he eventually found the one that would become his first house, in Blockhouse Bay.
He joked that in hindsight he’s very glad he did miss out on the others, as it led him to winning a year without interest on his home loan.
Tom was in the final steps of settling on his first home when Puneet from Westpac’s Digital Branch called him with the exciting news. Puneet was just as excited as Tom was, and couldn’t wait to congratulate him on being our 3rd winner to pay no interest.
Tom could barely believe he won and kept his news quiet, only telling a friend who had helped him find his new home.
Tom already has plans for his new home, hoping to do some improvements, including fencing off the back yard and building a deck, and is stoked that the savings over the next year can be put to good use with renovations and making lump sum repayments.