We think it is a good idea to budget for the following expenses:

• A lawyer budget for $1,500 to $2,000.
• A registered valuation budget for $750 to $1,200.
• A builder’s report budget for $450 to $800.
• Toxicology testing budget for $200 to $400.

The documentation required for a first home loan varies from applicant to applicant and is dependent on your circumstances. At a minimum, we will generally require you to provide us with:

• Photo ID.
• Your 3 most recent payslips or financials if you are self employed.
• Your bank statements for the last three months.
• Loan statements if you have any consumer debts.
• A KiwiSaver eligibility withdrawal letter if you are eligible to withdraw your KiwiSaver to buy a first home.

There is other documentation that we may need from you, but this would be specific to your situation.

Yes, however banks generally like to see at least 2 years of financials to support an application. Where this isn’t possible, our mortgage advisers will work with other non-bank lenders in the market to provide you with a solution.

If you don’t think you can afford the repayments, let us know and we will provide you with some solutions you haven’t considered to increase your income so you can get into your first home.

Assistance from family will generally increase your deposit and may give you a better chance of securing a home loan. We understand that families have different ways they like to help, therefore, get in touch and we can discuss the options available and decide on one that best suits your situation.