October 2016's Property Gazette

Borrowing with a 5% Deposit

We’re excited to announce that our clients can now access 5% deposit mortgages for owner occupied builds! This means that if you have ever thought that building is for you, there is no better time than now. With the Reserve Bank requiring banks to approve lenders with 20% deposit or more, this has left many would be homeowners stuck renting or flatting. The shortage of available properties on the market has only continued to fuel rising house prices, with many first time buyers becoming discouraged at the huge competition when making an offer on a property. This has made building your own home more appealing.

New builds were not often seen as viable choices for many buyers, especially first home buyers. Many people were unable to pay both the rent where they were living and the repayments for the mortgage as the home was being built. However, if you are a first home buyer, you can utilise both your KiwiSaver and HomeStart Grant funds to make up your 5% deposit. This leaves you with the cash to pay your rent and mortgage costs until your new home is built.

Investors need not fret about obtaining the required 40% deposit needed to purchase a property, as we also have access to 20% deposit investment new builds too.

If you would like to discuss how the LVR changes affect you, or start applying for a new mortgage, contact one of our friendly Mortgage Brokers today. Remember, we work for you and our services are always free.

  • A huge thank you to Scott for helping us get into our first home! As first home buyers, we had no idea what to expect and Scott's process was super easy to follow and he was always a phone call away. I would 100% recommend Scott and the team at Advanced Mortgage Solutions!
    Nina Pau'u - 07 May 2025
  • Scott was a fantastic help in securing our mortgage! He was responsive, knowledgeable, and trustworthy - I am so glad we went through Advanced Mortgage Solutions to help us buy our first home!
    Taylor O'Shannessey - 30 April 2025
  • Scott was amazing, this was our 2nd house purchase through his help, went above and beyond to get the deal done through the xmas holidays, and going out of his way to accommodate our work schedule to fit in meetings. Highly recommend to anyone in the house market
    Kurt Jamieson - 27 April 2025
  • Big thanks to Scott for all his help. Advice and assistance in buying our first home has been invaluable. Great service. Can highly recommend.
    Emi Frost - 26 April 2025
  • It was a great experience. Everything was made simple for us buying our first home. Scott made everything simple and also provided us with a lot of advice and made the experience fun. Definitely would recommend!
    Thomas Manley - 24 April 2025