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THE JOURNEY TO BUYING A FIRST HOME
The journey to getting a rst home is not always easy. Getting together a deposit can often be the hardest part about buying a house.
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*subject to normal lending criteria. Individual results may vary.
How much deposit is required?
Banks must now ensure that the majority of
their lending has a 20% deposit, so they are limited to how many low deposit (5% - 19.9%) home loans they can o er. The exception to this is the Welcome Home Loans which only requires a 10% deposit.
There are a number of routes you can take to get to your deposit, such as;
• Your own personal savings
• A gifted deposit (eg from a parent or
family member)
• KiwiSaver Home Start Grant
KiwiSaver Savings Withdrawl
