Help for First-Home Buyers

Wellington Mortgage Brokers have all the experience and expertise you need to get into your first home. Whether you live in Wellington, Kapiti, New Zealand or overseas you can count on our help for first-home buyers.

We can liaise with agents, solicitors, valuers, building inspectors and of course the banks to make it all stress free!

No question about the home-buying process is a silly one. You can email [email protected] 7-days a week for a prompt response or to get a complimentary copy of our First-Home Buyers Guide, or you can call us anytime

phoneCall Now 0800 000 518

95% Home Loans

There are varying forms, criteria and fees with a 5% deposit mortgage and it pays to talk to us. While one bank may say no, another bank or lender may say yes. We will save you time trying to shop around for a low-deposit mortgage. Normally 5% deposit home loans are available on turn-key house and land packages and, in some rare occasions, existing house purchases.

The first-home buyer loan market is complex so it pays to contact us. You can also use our online mortgage calculator to work out your repayment options.

No Deposit

You may be able to buy a home with no deposit if you have a parent or family member willing to act as a guarantor. This is a great option and does require the guarantor to be fully aware of the implications. The guarantor may also have to complete an application form. We can help with this whole process.

There could be other options available with strong income and certain geographical areas including no deposit to $250,000 (conditions apply).


You may also be eligible for a Government Grant of $3,000-$10,000. There is more information about Kiwisaver here.

Welcome Home/First Home Loan

You could also be eligible for a Welcome Home/First Home Loan to help you when you have a 5% deposit to purchase a home. More information is available here.

Wondering how it all works or where to start? Here's an overview of the process.

Obtain a mortgage pre-approval with the help of Wellington Mortgage Brokers. Based on your needs we help work out your budget for the home purchase and work out the best bank or lender to work with initially.

With a pre-approval you can now go out and place offers on homes.

Making an offer
Depending on your deposit situation, you may need to have a ‘Subject to Finance’ clause in the contract. You may also put in conditions relating to searching and approving the title (recommended), LIM report, builders report, engineers report, selling a house, valuation (can be part of finance clause) and any other specific clauses you need e.g. front door repaired before settlement.

Remember to tailor the deposit on the contract to what you have readily available in cash to a maximum 10%. Legally you do not have to pay a deposit on the actual purchase contract.

The real estate agent presents the offer to the seller and there may be counter offers back and forth. Price and terms are then agreed.The agent sends signed contracts to the buyer's and seller's lawyer and mortgage broker.

The buyer works to cover off the conditions (within specified days) in the contract with the help of other parties such as lawyer, mortgage broker, building inspector etc.

Going unconditional
Once all the conditions are ticked off the buyer confirms the contract via their lawyer. A deposit is then paid to the agent. The agent will eventually deduct their commission and pass on the balance to the seller.

The mortgage broker will confirm final loan structure with the buyer, haggle rates with the bank, arrange to lock in rates for settlement day, arrange insurances if required and advise bank of final details.

The bank sends loan documents to the buyer’s lawyer. The buyer signs documents off with their lawyer.

Usually the day before settlement the buyer does a pre-settlement inspection (recommended) and checks everything is in order including checking the chattels list.

Settlement day – the bank sends money to the lawyer to effect settlement. The bank takes the mortgage over the property. Once the money has been transferred, the client obtains the keys from the agent and moves in.

Useful Resources

Here is a copy of the REAA-Sale–Purchase-Agreement-guide

Finally, there are some great sites for finding property,, and

Interested in finding out more about our help for first-home buyers? Please watch our video below and contact us today to discuss your options.