Ask Tash: Home loans

Hi everyone, 

 I’ve written a blog about the steps involved in applying for a home loan, so have a read and if you have a question about home loans leave it for me here. I’ll do my best to answer it for you!

  • Tash

When it comes to deposits obviously the larger the better, but is there a minimum that I would need to have for you to even consider lending to me?

1 Like

Hi Padwa, great question!

If you’re a first home buyer looking to get a home loan your best bet will be to have a deposit of at least 20% of the cost of the property you’re looking to buy.

In 2013 the Reserve Bank of New Zealand put some restrictions in place on lending to customers who have a less than 20% deposit, so if your deposit is a little short of 20% your application will be subject a number of assessments.

You can find more about these restrictions on our website here:

Let me know if you have any further questions about this!

  • Tash