Mortgages

Deposits

Generally, you need a 20% deposit to secure a mortgage on a property and the bigger the deposit, the better.

Your deposit will affect the type of loans and number of lending providers available to you. As Haven works with all the major lending institutions, we are in a stronger position to secure you a home loan with minimal conditions.

The best way to build a deposit is with regular savings taken directly out of your bank on pay day. If saving half of your pay for the next 50 years still won’t get you near the property ladder, you can withdraw money from your KiwiSaver account to put towards your first home. You may also qualify for a first home grant.

Generally, you need a 20% deposit to secure a mortgage on a property and the bigger the deposit, the better.

Your deposit will affect the type of loans and number of lending providers available to you. As Haven works with all the major lending institutions, we are in a stronger position to secure you a home loan with minimal conditions.

The best way to build a deposit is with regular savings taken directly out of your bank on pay day. If saving half of your pay for the next 50 years still won’t get you near the property ladder, you can withdraw money from your KiwiSaver account to put towards your first home. You may also qualify for a first home grant.

Low Deposit Mortgages

Lending institutions are recognising the difficulty in saving a 20% deposit which is why some are offering a low deposit mortgage. There are tighter restrictions to this lending and you will have to prove:

  • A stable income.
  • A stable employment history.
  • A great credit record.
  • Low debts.
  • Some genuine savings.

Lending institutions are stringent in offering these loans so it helps to have an expert on hand. If you do not have 20%, talk to your Haven mortgage adviser and we will work towards getting you a home loan on a smaller deposit.

Low Deposit Mortgages

Lending institutions are recognising the difficulty in saving a 20% deposit which is why some are offering a low deposit mortgage. There are tighter restrictions to this lending and you will have to prove:

  • A stable income.
  • A stable employment history.
  • A great credit record.
  • Low debts.
  • Some genuine savings.

Lending institutions are stringent in offering these loans so it helps to have an expert on hand. If you do not have 20%, talk to your Haven mortgage adviser and we will work towards getting you a home loan on a smaller deposit.

IF YOU WOULD LIKE TO MAKE THE PROCESS STRESS FREE WITH MAXIMUM RETURN

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