MORTGAGES

Your First Home Is a Wealth-Building Decision. Treat It Like One.

Most brokers find you a rate. We help you structure a mortgage around your long-term wealth. Complimentary consultation, no obligation.

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Marcus and Nik, mortgage brokers from Become Wealth, seated

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"We have had Marcus Mannering as our mortgage broker and advisor for the purchase of our first home, and we have been thoroughly impressed with the service he has provided." - William A.

Foundation of trust

You join thousands of New Zealanders who have gained greater control over their financial future, and entrust our advice when investing over $1 billion. We are trusted by major government departments and leading companies nationwide, and you can trust us, too.

Designed for you

You receive a bespoke roadmap built for your goals.

Since no bank or platform provider owns us, your plan is supported by a model designed to reduce the outcome-linked incentives that can exist in some advice firms.

Boutique advice on a national scale

Your adviser is backed by a team of specialists who review and challenge every recommendation before it reaches you. Large enough for real accountability. Focused enough to know your name.

Connect via video call or at our Auckland and Christchurch hubs for a truly boutique experience.

Your total financial picture

Whether it involves complex investment portfolios or just the basics, your finances should be a cohesive picture. We make sure the left hand always knows what the right is doing.

Why First Home Buyers Choose Us

Bankers work for the bank. Real estate agents work for the seller. We work for you.

Most mortgage brokers will help you find a competitive interest rate. So will we. But a good rate on the wrong loan structure can cost you far more over the life of your mortgage than a slightly higher rate on the right one. We approach your first home purchase as the opening move in a long-term financial plan, not an isolated transaction.

This means we look beyond the rate. We help you answer the questions banks and most brokers do not ask:

How much should you actually borrow? The bank's maximum is not your ideal budget. We help you find the number allowing you to live comfortably, maintain an emergency buffer, and keep investing for your future.
How should your loan be structured? Fixed, floating, or a combination? Revolving credit for future principal acceleration? Offset accounts? The structure of your mortgage affects how quickly you build equity and how much flexibility you retain as your life evolves.
What happens to your KiwiSaver investment after withdrawal? Pulling your entire balance to maximise a deposit has a compound cost over 20 to 30 years. Before you withdraw, it is worth checking whether your KiwiSaver Scheme investment is in the right fund for your timeline. Getting this right could add thousands to your deposit or save you significantly in the long run.
What protection do you need from day one? Life insurance, income protection, and contents cover should be arranged before you move in, not after. We coordinate this alongside your mortgage so nothing falls through the cracks.

Our advisers are paid a salary, not commission. There is no incentive to recommend one lender over another or to push you toward a larger loan. Our mortgage advice is typically free to you; we are paid by the lender. And because Become Wealth is not owned by a bank, an investment platform, or a product provider, our recommendations are based on independent third-party research and your interests alone.

Not sure where you stand? A complimentary conversation with one of our advisers will give you clarity.

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How It Works for First Home Buyers

Our advisory process is built on a methodology used by thousands of New Zealanders. Here is how it works for first home buyers.

1. The Wealth Check

A complimentary, no-obligation conversation to understand your situation. We review your income, expenses, existing debt, KiwiSaver balance, deposit sources, and borrowing capacity.

You leave with an understanding of what might be possible.

Financial Check with adviser sitting, Become Wealth NZ

Client meeting, dviser seated doing financial analytics

2. The Blueprint

We handle your mortgage application and secure pre-approval so you can search with confidence. You will know your budget before you set foot in an open home, and sellers will see a buyer who is ready to move.

3. The Pre-Approval

We design a mortgage structure aligned with both your immediate cashflow and your longer-term financial goals. This includes lender selection, rate negotiation, fixed and floating split, and how your loan structure can support future flexibility such as lump-sum reductions, renovations, or even future property purchases.

Financial advisers of Become Wealth walking towards camera

Become Wealth cup, adviser seated on computer

4. From Offer to Keys

Once you find the right property, we coordinate milestones with your lender and keep you updated throughout the process. We can also connect you with a good property lawyer if you need one, and ensure your insurance is in place before settlement day.

5. The First Year and Beyond

Our relationship does not end at settlement. We check in when your fixed rate is due for review, help you assess refinancing opportunities, and ensure your mortgage continues to serve your broader financial position as your life changes. Many of our first home buyer clients go on to work with us across financial planning, investment management, and property investment.

Your Deposit Options

Saving a 20% deposit is the conventional path, but it is no longer the only one. Several options can help you reach your deposit target faster, and some first home buyers can purchase with as little as 5%.

KiwiSaver First Home Withdrawal

If you have been a KiwiSaver member for at least three years, you may be able to withdraw most of your KiwiSaver Scheme investment to put toward your first home. You will need to leave a minimum balance of $1,000. The property must be in New Zealand, and you must intend to live in it. You cannot use the withdrawal for an investment property. For full eligibility details, see the Kainga Ora KiwiSaver first-home withdrawal page.

One thing to consider before you withdraw: your KiwiSaver Scheme investment is likely your largest financial asset outside of the home you are about to buy. If it is sitting in a fund poorly matched to your timeline, you may be leaving money on the table. A quick review of your fund allocation before withdrawal can make a meaningful difference to your deposit. This is something our advisers can help with, and it takes just a few minutes during your initial consultation.

Kainga Ora First Home Loan

The Kainga Ora First Home Loan is a government-backed scheme allowing eligible first home buyers to purchase with a deposit as low as 5%. Kainga Ora underwrites the loan, which means selected lenders can accept a smaller deposit than they normally would.

Key details:

No house price cap. The government removed property value limits in 2022, so the price of the home you are buying no longer affects your eligibility.
Income caps: $95,000 before tax for a sole buyer without dependants. $150,000 before tax for a sole buyer with dependants, or for two or more buyers combined.
A Lenders Mortgage Insurance premium of 1.2% of the loan amount applies. This can be paid upfront or added to the loan.
Participating lenders include ASB, Westpac, Kiwibank, Co-operative Bank, SBS Bank, Unity Money, NBS, and NZHL.
You must be a New Zealand citizen or permanent resident, buying a home to live in as your primary residence.

For full eligibility criteria and to find a participating lender, visit the Kainga Ora First Home Loan page.

What Happened to the First Home Grant?

The Kainga Ora First Home Grant was permanently discontinued in May 2024. The government redirected those funds into social housing construction. If you have seen older articles or calculators referencing a grant of up to $5,000 (existing homes) or $10,000 (new builds), this is no longer available. The First Home Loan and KiwiSaver first home withdrawal remain the primary government-backed pathways for first home buyers. See the New Zealand Government overview of support for first home buyers for a summary of what is currently available.

Other Deposit Sources

In addition to KiwiSaver and the First Home Loan, your deposit can come from personal savings, gifts from family, equity or guarantees from family property, or a combination of these. If you are unsure whether your deposit is sufficient, or how to combine multiple sources, this is something we assess during your initial consultation.

Not sure about your deposit options? Let's work it out together in a complimentary consultation.

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Understanding Your Borrowing Power

How much you can borrow depends on several factors, and different lenders weigh them differently. Your income is the starting point, but lenders also assess your existing debts, regular expenses, number of dependants, and credit history. Two people earning the same salary can receive very different pre-approval amounts depending on their financial commitments.

When you are ready for a precise figure, pre-approval from a lender is the next step. This is where our advisers add the most value: we know which lenders are most competitive for your profile, we handle the application, and we negotiate on your behalf. Pre-approval also signals to sellers and real estate agents that you are a serious buyer with confirmed finance, which can make a real difference in competitive situations.

A note on borrowing the maximum. The amount a bank will lend you is not necessarily the amount you should borrow. A mortgage stretched to the limit leaves no room for unexpected costs, rising interest rates, or the life changes (children, career shifts, travel) most people in their twenties and thirties experience. We help you find the right number, not just the biggest one.

Want to know what you could borrow? We'll aim to give you a clear answer in your first conversation.

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What First Home Buyers Often Get Wrong

Buying your first home is a steep learning curve, and most of the costly mistakes happen before settlement day. Here are four we see regularly.

Borrowing the maximum the bank approves

The bank's ceiling is a lending limit, not a lifestyle recommendation. Stretching to the maximum leaves you exposed to interest rate rises, unexpected maintenance costs, and the everyday expenses of running a home. Build a buffer into your budget.

Ignoring insurance until after you move in

Life insurance, income protection, and contents cover should be arranged before settlement, not treated as an afterthought. If something goes wrong between signing and moving in, or in the first weeks of ownership, you want protection already in place. Our advisers coordinate insurance alongside your mortgage so everything is sorted by settlement day.

Withdrawing your entire KiwiSaver balance without understanding the cost

In some cases, keeping a portion invested and using other deposit sources can leave you better off in the long run. This is a decision worth discussing with an adviser before you commit.

Skipping a building inspection to save $800

On a purchase worth $900,000 or more, a building report is one of the best investments you can make. Hidden defects in weathertightness, foundations, or roofing can cost tens of thousands to remediate. A qualified building inspector will check the property from top to bottom and identify issues before you sign. Their report is typically between $600 and $1,200 and is worth every cent.

What Our First Home Buyer Clients Say

"The Become Wealth team were so patient and responsive while working with me to secure my home loan. Communication was clear and fast and I never felt out of the loop. Working with Nik, I felt assured I was getting the best deal for my situation and he made the whole process worry-free."

Carlotta D.

"Great service, grew my money and was effortless to withdraw for my first home."

Sarah D.

"Marcus was so amazing to work with! He was so patient with us and was happy to clarify anything with us that we needed. He always responded to our queries quickly and kept us in the loop with where everything was at in the process, we never once felt left in the dark the whole way."

Maddy C.

Common First Home Buyer Questions

How much deposit do I need to buy my first home in New Zealand?

Most banks require a 20% deposit. However, with a Kainga Ora First Home Loan you may be able to purchase with as little as 5%. Income eligibility caps apply ($95,000 for a sole buyer, $150,000 combined for couples or buyers with dependants), but there is no longer a house price cap. Your KiwiSaver first home withdrawal can also contribute to your deposit. If your deposit comes from multiple sources, such as savings, KiwiSaver, and family gifting, our advisers can help you structure the strongest possible application.

Can I use my KiwiSaver investment to buy my first home?

Yes, if you have been a KiwiSaver member for at least three years. You can withdraw your KiwiSaver Scheme investment balance down to a minimum of $1,000. The property must be in New Zealand, and you must intend to live in it. You cannot use the withdrawal for an investment property. If you have previously owned property, you may still be eligible if Kainga Ora determines you are in a similar financial position to a first home buyer.

What is the difference between going to a bank and using a mortgage adviser?

A bank can only offer its own products. A mortgage adviser works across multiple lenders to find the loan best suited to your situation, income profile, and financial goals. We also handle the application process, negotiate rates on your behalf, and coordinate with your lawyer, insurer, and other professionals. For a first home buyer unfamiliar with the process, having someone in your corner can save time, money, and stress.

Do I need to pay for mortgage advice?

Typically no. When you work with Become Wealth for mortgage advice, we are paid by the lender, so there is usually no direct cost to you. Our advisers are paid a salary rather than commission, which means they have no incentive to recommend one lender over another or to encourage you to borrow more than you need.

Should I fix or float my mortgage?

This depends on your circumstances, your tolerance for interest rate movement, and where rates sit in the cycle. Many buyers use a combination: fixing a portion for repayment certainty and keeping a floating or revolving portion for flexibility. Your adviser will walk you through the trade-offs during your initial consultation. If your circumstances change down the track, we also help with refixing and restructuring.

Is the First Home Grant still available?

No. The Kainga Ora First Home Grant was permanently discontinued in May 2024. The government redirected those funds into building social housing. The two primary government-backed pathways remaining are the First Home Loan (5% deposit) and the KiwiSaver first home withdrawal. For a full overview, see the New Zealand Government's guide to financial help for first home buyers.

Take the First Step

For a complimentary, no-obligation conversation about buying your first home, leave your details below. One of our mortgage advisers will be in touch within one business day.

A relaxed first conversation, completely at your pace.

240+ Google reviews

5.0

We're trusted to advise New Zealanders on investments totalling over $1 billion. You can trust us, too.

Become Wealth (FSP249805) is one of only 49 firms in New Zealand to hold a Discretionary Investment Management Service (DIMS) licence. Alongside being a licensed Financial Advice Provider (FAP), this DIMS accreditation requires us to meet higher regulatory standards and more detailed reporting obligations. These elevated requirements provide confidence that you are working with a firm vetted to a high level.

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