Help for first home buyers










 

Help for first home buyers

 

 

Let’s get your mortgage pre-approved

Looking for your first home? Lauren loves working with first time buyers and will use her experience and expertise to guide you through the exciting (and sometimes stressful!) journey to home ownership.
 
You can rely on Lauren for advice and support, and leave her to deal with the bank, while you get on with finding a place to call home. When you apply for a mortgage, the bank wants to know how serious you are. They’ll check if you have enough deposit, your income level and if you're responsible with your money. Make sure to talk with Lauren, she can help you get a yes from the bank!
 

Boost your savings

Generally you’ll need a 20% home deposit, and for most first home buyers this comes from their savings, KiwiSaver and perhaps with a top-up from family. Get in touch with Lauren or use an online mortgage calculator to get an idea of how much you can afford to borrow and what your mortgage repayments are likely to be. Getting in the habit of saving the difference between your rent and potential mortgage payments will give your lender confidence that you can meet future mortgage repayments.

Reduce debt

Your future lender will take into account any debt you have when deciding whether to approve a home loan. Pay off as much debt as possible, including any credit cards, and avoid hire purchases and pay-later options whenever possible. Even if you have an overdraft, don’t use it and make sure not to go into unauthorised overdraft.

Lauren Young - Financial Adviser - Mortgage advice for first home buyers

Customer review - Lauren Young - Mortgage advice - Ajay Patel

 Review your spending

Your lender will want to see three months of bank account statements. They’ll be checking for missed payments, so make sure your direct debits and automatic payments go through. Reduce your discretionary spending to maximise your account balance and demonstrate that you will be able to afford the costs of home ownership.

Using KiwiSaver

First home buyers can boost their deposit by using KiwiSaver. You’re able to  withdraw any contributions that you and your employers have made, but not Government contributions. Note that you must have been a KiwiSaver member for at least three years and plan to live in the house for at least six months to qualify. KiwiSaver members may also be eligible for a first home grant of up to $5000, or $10,000 for a couple who both qualify.

 

For expert financial advice and to your mortgage pre-approved, get in touch today!

CONTACT LAUREN

 

 

 

 

 

 

 

 

 

 

Lauren has access to a wide range of mortgage products from more than 20 lenders and will work hard to find the best option for you.

 

 

Look at the big picture

Your lifetime financial health is important so Lauren takes both your short and long term goals into account. Whether it’s automating savings and debt repayments or making your debt work for you, trust Lauren to give you expert advice and easy-to-follow strategies.

 

Find the right lender

Bank policies are constantly changing and each bank has different rules and guidelines depending on what you’re trying to do. Lauren speaks ‘bank’ and understands their points of difference, so she can match you to the lender that suits you and your goals best.

 

Help you manage debt

While most people have a set and forget attitude to their mortgage, with the right strategy you can save thousands of dollars over the life of your loan. Whether you want to pay off your loan faster or leverage yourself into the next property, Lauren can show you how to achieve your goal.

 

Provide ongoing support

As your life and priorities change, Lauren can help you adjust your financial plan to suit. She’ll find out what you want to achieve and come up with a strategy to help you reach your goal. This gives Lauren’s clients the confidence to make better informed decisions.