Your Home Loan Questions, Answered

The first step is securing pre-approval from a bank or mortgage broker so you know your budget.

Most buyers need at least 20%, though first-home buyers may qualify for Kāinga Ora with as little as 5%

Yes. Eligible first-home buyers can use KiwiSaver savings and apply for a Kāinga Ora grant.

Skipping pre-approval, underestimating costs, buying beyond budget, focusing only on rates, and rushing due diligence.

It’s confirmation from a lender of how much you can borrow, subject to conditions.

Typically 60–90 days.

No. Final approval depends on the property, valuation, and updated financial checks.

Yes, many lenders allow split loans to combine stability and flexibility.

Your loan will automatically move to a floating rate unless you refix or restructure.

Legal fees, building reports, insurance, rates, moving costs, and sometimes valuation fees.

Usually between $900 and $2,500.

It’s not compulsory but highly recommended to avoid unexpected repairs.

No. Moving expenses must be covered separately.

They’re based on the loan amount, interest rate, and loan term.

Yes. Weekly or fortnightly payments can help reduce interest over time.

Your bank may charge fees and interest, and repeated missed payments could affect your credit.

Options include refinancing, extending your loan term, or adjusting repayment frequency.

It means replacing your current loan with a new one for better rates, terms, or structure.

The most effective approach is to have your loan actively tracked, with regular updates on when action may save you money. 

Possible break fees, legal costs, and valuation fees.

To get better rates, cashback offers, or more flexible loan structures.

Through a top-up loan, refinancing, or restructuring your mortgage.

Common uses include renovations, investments, or debt consolidation.

A short-term loan that helps you buy a new property before selling your current one.

Usually up to six months.

Yes, they often carry higher interest rates than standard loans.

Yes. A lawyer or conveyancer must handle contracts and settlement.

You move in, start repayments, and cover ongoing costs like insurance and rates.

Usually within a few days or weeks.

Generally no, except for new builds or returning NZ citizens and residents.

Often 20–30% or more.

Certified ID, proof of income, bank statements, deposit evidence, and compliance documents.

Yes, by a notary, lawyer, or authorised official.

Yes. We actively monitor loans and recommend changes when savings are possible.

Yes. We guide buyers through each step with clear, local advice.

Yes. We work with lenders who specialise in expat and overseas buyer loans.