First home buyers

Assisting you through the process

Buying your first home can be a daunting undertaking, so we’re here to remove the jargon and technical language, simplify the process, and make sure you get a great mortgage.

Smart borrowing package cover
Thinking of buying your first home? Download our Smart borrowing package and House buyers bible PDF resources.

Bankers work for the bank. Real estate agents work for the seller. We work for you – the home buyer. As we do this every day, we'll be able to answer all your questions, including:

  • What mortgage can I afford?
  • What's the best bank for me?
  • Who's offering the best rates right now?
  • How do I strengthen my mortgage application?
  • Fixed? Floating? Or a combination of both?
  • How much could I save?
  • Who else should I talk to? – including a good lawyer.

So, if you’re thinking of buying your first home, and need an expert team on your side, get in touch.

Your deposit

Traditionally, a 20% deposit was required to secure property lending, leaving many first home buyers well short of their own home. The constantly evolving property and lending environment means that in many cases you can purchase with as little as a 10% deposit. Additionally, there are also several things that can complement the cash you already have set aside as your deposit. Options include:

  • Saving more between now and application time
  • Assistance from family:
    • Gifted money
    • Equity or guarantees
  • KiwiSaver
  • KiwiSaver Home Start Grant

KiwiSaver for first home buyers

KiwiSaver has several features which have helped many Kiwis into their first home.

If you've been a member of KiwiSaver for at least three years, you may be able to withdraw some of your KiwiSaver savings to put toward purchasing your first home. You’ll most likely be eligible for a KiwiSaver first home withdrawal if:

  • You've been saving with KiwiSaver (or another complying superannuation fund) for at least three years
  • You're going to live in the home you're buying or build a home to live in on the land you're buying
  • The property or land is in New Zealand
  • You're a first-time property or land owner – even if you've owned property before, you may still be eligible to withdraw your savings if Housing New Zealand decides that you’re in the same financial position as a first home buyer
  • It's the first time you've made a KiwiSaver withdrawal to buy a home.

By meeting the criteria above, you’ll be able to use your KiwiSaver savings to put toward the purchase of your first home. You'll need to leave a minimum balance of $1,000 in your KiwiSaver account and you cannot withdraw any amount transferred from an Australian complying superannuation fund.

KiwiSaver HomeStart grant

You could be eligible for a KiwiSaver HomeStart grant of up to $5,000 to buy an existing home, or up to $10,000 if you are building or purchasing a newly built home. If you’re doing this with someone else and they're eligible, you could get up to $20,000 between you (for building or buying a newly built home).

Housing New Zealand administer this grant. You can check with Housing New Zealand to see if you are eligible. Income caps, house price caps and other criteria apply.


Assistance from us to help secure your first home is usually free to you, as we will be paid by the lender. So that you know our Authorised Financial Advisers (in this instance often referred to as a mortgage broker) are truly putting your interests first, our advisers are all paid a salary instead of commission. They also have no incentive to promote one product over another.

By seeking our assistance, you’ll receive the following support:

  • Determining if your deposit is sufficient
  • Determining how much you can afford
  • Finding the mortgage provider who best suits you
  • Securing the lowest interest rates possible
  • Tailoring the mortgage to suit your individual needs
  • Talking you through the process in plain English, so you know you’re doing the right thing for your lifestyle and financial position

So, if you’re thinking of buying a house, but need some experts to guide you through the number crunching, get in touch!

What now?

For a free and no-obligation chat with an Authorised Financial Adviser - often called a mortgage broker - about getting your first home, call 0508 MILESTONE (0508 645 378) or leave your details and query below.