Low Deposit

Currently we have quite a few competitive options available to clients with a 10% deposit or less. There are some requirements, but it can be worthwhile for most.  We can also simplify the process of getting a home loan approved and negotiating a sharp interest rate for you.

KiwiSaver can also help you purchase your first home! If you are going to buy your first home, you may be able to withdraw some of your KiwiSaver savings to put towards it. You may also qualify for Housing New Zealand’s first home deposit subsidy.

We will also match any kickstarts or housing schemes that you may be locked into. (t&c’s) apply


Applying for a first home withdrawal from KiwiSaver

You may be able to use the first home withdrawal from KiwiSaver to help you purchase your first home subject to the following conditions:

  • You must have been a member of KiwiSaver or a complying superannuation fund, for a minimum of three years.
  • You must have never purchased a property before.*
  • The property you are purchasing must be in New Zealand, and intended to be your principal place of residence – a rental investment property would not qualify.
  • You must not have made a withdrawal from a KiwiSaver scheme for the purchase of a home before.

As well as the first home withdrawal, you may also qualify for Housing New Zealand’s first home deposit subsidy. In addition to the rules above, the following conditions apply:

  • You must have contributed to a KiwiSaver scheme or complying fund at least the minimum rate of your income for at least three years. The minimum rate is 4% of income from 1 July 2007 to 31 March 2009 and 2% from 1 April 2009.
  • The property you purchase must be within the regional house price caps which are$400,000 for Auckland.
  • Applicants must have income within the income caps – for one or two buyers the combined yearly income should be $100,000 or less (before tax) and $140,000 or less(before tax) for three or more buyers.
  • The subsidy is $1,000 per year you have contributed to KiwiSaver up to a maximum of $5,000. (If you’ve contributed for 3 years, you’ll get $3,000; for 4 years,$4,000; for 5 years, $5,000; for 6 years or longer, $5,000... you get the picture.)

To apply or find out more please contact me on 09 279 1220 or apply at ryan@saprop.co.nz

Low Deposit Enquiry

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As low as 10%* deposit
*conditions apply.

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