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.

  • Amazing! Worked with Greg to buy my first house. Helped me through a raft of unforeseen issues and complications with calmness and professionalism. 5 stars and would recommend to anyone looking to purchase a house.
    Casey Hammond-Parrish - 23 June 2025
  • Firstly, Scott is such a knowledgable and friendly human being. We did not feel pressure at any stage of the process! With his guidance we were able to purchase our first home.
    Rashitha Gamage - 22 June 2025
  • Scott was friendly, professional, and invaluable in helping us secure a mortgage and purchase our first home.
    Tim Hamblin - 17 June 2025
  • We dealt with Greg through purchasing our first home. Greg was everything we wanted as first home buyers clearing up and grey areas and making it simple and stress free. Would highly recommend to anyone looking at or even thinking about buying. 10/10
    Jamie Botting - 16 June 2025
  • As a first home buyer I could not recommend the team at Advanced Mortgage Solutions more!
    Michaela Sibbald - 16 June 2025