Buying the first home is one of the biggest financials decision of one’s life.When you are looking to buy your first home, there are certain questions that come to your mind —

  • How much money can you borrow from the bank?
  • How much deposit do you have to pay to be able to secure a loan?
  • What interest rate would you pay?
  • How much will be you repayment?
  • Given there are so many banks and lenders in the market, where can I get the best deal?

We can help answer these, and many other questions that you might have when it comes to finding the best first home loan for you.

Given the current climate of rising interest rates and LVR restrictions, first home buyers have a lot to think about, to be able to get on to the property ladder. They can take the help of schemes such as Kiwisaver and first home buyer subsidies, as explained below, to further help them with the deposit on their first home.

Kiwisaver members:

If you are a kiwisaver member and have been for more than three years, you may be able to withdraw some of your savings to put towards buying your first home. First home buyers can withdraw their contributions and their employer’s contributons but not the government contributions.

First Home Buyer subsidy:

If you have been saving in your kiwisaver scheme for more than three years, you may be entitled to apply for a first home deposit subsidy of $1000 per year , upto a maximum of $5000 for five years

If you are a couple buying your first home together and you both qualify for this first home deposit subsidy under you kiwisaver scheme, you could potentially receive a combined subsidy of upto $10,000.

For more information about kiwisaver subsidy and how it can help with the first home buying process, you can go to http://www.kiwisaver.govt.nz/new/benefits/home-sub/ or click here.

When you’re looking to buy your first home, we’ve got the expertise and knowledge to deliver you an outcome suitable to your budget and your unique situation, so contact us now!!

Need to arrange your first home loan? Talk to us!

If you’re interested in finding our more about buying your first home, we’d love to hear from you. For a no obligation free chat, simply give us a call on 09 215 6912 or fill out the Quick Contact Form and we’ll be in touch ASAP