The Reserve Bank has introduced restrictions on lending above 80% LVR which is making it difficult for first home buyers to purchase their first home. If you are one of the people affected by this then we have some good news! Nest Home Loans has access to a special line of funding from the credit unions of NZ for first home buyers who can lend on your first home with a 5% deposit in Tauranga, Rotorua, Taupo and some of the other main centers in the North Island.
Call us to find out if the property you are looking at is eligible for this type of funding.
To be eligible for this type of lending you will also need:
- A sustainable source of income
- Be A NZ permanent resident or citizen of NZ
- Hold appropriate personal insurance (we can arrange this for you)
- The property must be acceptable in terms of the location and quality.
If you are having difficulty with your current Bank to purchase your first home and have a low deposit please get in touch to discuss some options available to you.
