Deposit Requirement 

Deposit requirements vary between lenders and are based on criteria that can change over time. For owner-occupied properties, 20% deposit of the purchase price will be acceptable by most lenders.  30% deposit is required for purchasing residential properties for investment.

Lenders will often require that the deposit can be demonstrated with a minimum of 3-months savings history in either a bank account or investment including KiwiSaver.

First home buyers with KiwiSaver for at least 3 years may be eligible to withdraw from their KiwiSaver account and LVR can be 90%

Family Equity Assistance

The purchaser borrows 80% of the purchase price in their name, and the remaining 20% is borrowed as a joint equity loan with a surety – usually their parents. The purchaser must be able to repay the total loan as a whole. The 20% joint equity loan is secured against both the purchased property and the surety’s property. The liability of the family is limited to the amount of the equity loan.

Top-Up Loan for Renovation

Renovation includes the do-up on new kitchen, bathroom, new carpet, or new rooms. If you have repaid your loan to a certain percentage, normally you can get some of the amount back from your lender to make renovations, which is a great way to increase the value of your property. A top-up from your mortgage is an easy way to fund the renovations. For big amount top-up, a renovation proposal may be required. If a structural reform is made, a permit from city council is usually needed.

Property Investment

A large proportion of wealth for NZ households is in the form of housing. Property investment is one of the main ways to increase your family wealth. It can also be an excellent superannuation scheme in the right circumstances. A property investment loan can be approved just on the equity amount of your property, even if there is no any deposit.

An Investment Property Loan is a loan provided for the purchase of, and / or secured by, residential investment property. Residential investment property is property that is not owner-occupied, or for the owners' exclusive use (such as a holiday house)