First
Home Buyers

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In order to buy your first home, you will need to put down a deposit (a lump sum of cash) to secure the house. There are a few deposit options that are available to first time buyers.

Kiwi Saver

If you are buying your first home and have been contributing to KiwiSaver for three years, you may be able to withdraw your savings to put towards the deposit for your new property.

As a contributing KiwiSaver member you may also be eligible to apply for a HomeStart grant to contribute towards your deposit. Take a look at the criteria for the HomeStart grant.

Ask the family

If you have a supportive family, you might want to talk to the Bank of Mum & Dad. Your parents may be able to be a guarantor for your home loan deposit by offering security against their own home in lieu of a cash deposit. If you’re reading this oldies, don’t panic, David can arrange to limit your liability (risk).

Perhaps you have a generous benefactor? If so, you could potentially look at a gifted deposit. In some cases your deposit can be fully gifted by a family member rather than having to show a history of personal savings. Providing cash mitigates any risk of them losing their own home should you fall in arrears.

If you need further professional advice, David can connect you with one of a number of trusted partners who deal with insurance, legal, accounting and real estate requirements.

Why talk to
David Lloyd
mortgages?

  • Get a fresh perspective on your lending options from a seasoned professional
  • Different property types have varying degrees of bank lending criteria. David can advise on all the possibilities, whether you are looking to buy a standard residential dwelling, an apartment or a property off-plan
  • Your personal circumstances will dictate the lending criteria which varies between banks; let David find the lender that suits your lifestyle
  • Dealing directly with banks can be difficult. Save yourself the hassle by talking to one expert who's easy to contact and offers sound financial advice
  • He will negotiate to get you the best available rates and incentives in the market