A first home buyer mortgage broker helps you assess your borrowing position, explore suitable lenders and progress your home-loan application.
You may have savings, KiwiSaver or family willing to help, but still be unsure whether you can buy. Or you may already have a bank’s estimate and want to understand what it means for your property search.
The practical reason to speak with Angela is to understand what may actually be holding you back, which decision deserves attention, and whether family support, further preparation or a different lending option available through Platinum could address the issue, before you apply or ask family to commit. There is no single “best bank” for every first-home buyer.
If you decide to proceed, Angela can then help you move from those first questions through to the mortgage arrangements for settlement.
Tell us where you are in the buying process and what you want to understand. If you have a property in mind, include any offer or auction deadline.
The benefit is not simply having someone explain mortgage terminology. It is understanding how the options and requirements relate to the home you want to buy.
You can get help to:
Focus your property search: assess your borrowing position alongside repayments and other homeownership costs.
Explore suitable lender options: consider options available through Platinum, rather than relying solely on your everyday bank.
Prepare your application: understand the information needed and get support with lender questions.
Compare the commitments: look at repayments, fees, flexibility and conditions—not just an advertised rate.
Progress towards settlement: understand outstanding finance requirements and the mortgage decisions you need to make.
Your lender decides whether to approve the loan. Advice and application support cannot guarantee approval, a particular interest rate or a completion date.
Before deciding to save longer, ask parents for help or approach another lender, it helps to identify the question that needs answering.
| Your question | The distinction that matters |
|---|---|
| “Do I need a bigger deposit?” | Having enough deposit and being able to afford the loan are separate considerations. |
| “Would help from my parents solve it?” | Family support may address a deposit or security shortfall, but does not automatically resolve repayment affordability. |
| “The calculator says we can borrow enough—can we start making offers?” | An estimate is not lender approval, and the particular property may still need assessment. |
| “We don’t qualify for Kāinga Ora—does that rule us out?” | Eligibility for one scheme is not the same as eligibility for every home loan. |
| “Which is the best bank for a first-home buyer?” | An advertised first-home offer does not show whether that lender fits your circumstances or property. Compare the total costs, conditions, flexibility and lender requirements—not only the headline rate or incentive. |
Depending on your circumstances, the next step may be an application, further information or preparation before reassessment. A useful outcome is knowing what deserves your attention, not simply being told to apply or keep saving.
For detailed explanations, see our first-home deposit guide and mortgage lending criteria guide.
Angela Downie, Financial Adviser at Platinum Mortgages, explains more about buying a first home on one income:
“A client approached me believing home ownership was not possible on one income. She assumed she would need to wait until she had saved at least a 10% deposit.
I assessed her income, living expenses and likely repayments and identified a potential 5% pathway for her first-home purchase. The figures we reviewed indicated that the proposed repayments would still leave a healthy monthly surplus. We also compared the trade-offs between proceeding with a smaller deposit and waiting longer, including possible low-equity costs and lender fees.
Once she understood the commitments, she chose to proceed as a sole applicant using that pathway. She went on to settle on her Auckland home and now lives there with her daughters.
My advice is to speak with an adviser before attending open homes. An early assessment can clarify what you may afford and identify anything that should be addressed before an application is submitted.”
Buying your first home does not mean you must use a government-backed loan. For a home you intend to live in, a standard mortgage—including a low-deposit option—may be suitable, depending on your deposit, affordability and the lender’s requirements.
The useful next step is to understand which options fit your circumstances. For detailed deposit guidance, read how much deposit you need to buy your first home.
Possibly. The Kāinga Ora First Home Loan is a specific home-ownership scheme, distinct from the general term “first home loan”. Eligible buyers may be able to purchase a home they intend to live in with a deposit as low as 5%, through a participating lender, with the loan underwritten by Kāinga Ora.
At a high level, an applicant must:
Scheme eligibility and the participating lender’s assessment are separate. Meeting Kāinga Ora’s requirements does not automatically mean the lender will approve the mortgage.
A First Home Loan also involves a Lender’s Mortgage Insurance premium, which may be paid upfront or added to the loan. A participating lender may also charge an application fee.
Confirm the current premium and any lender fees, including their effect on your loan balance and repayments, before comparing this option with another home loan.
See the how much deposit you need to buy your first home.
Not qualifying for this scheme does not automatically rule out a standard home loan.
The First Home Grant ended in May 2024 and is separate from the Kāinga Ora First Home Loan. Read our guide to the First Home Grant’s closure for more context.
Platinum provides mortgage advice, not advice on selecting KiwiSaver investment products.
Start with your intended timeframe, approximate deposit, income, existing commitments and any property you are considering.
If you have already approached a bank or another broker, tell us about that engagement and any estimate, application or approval. This helps establish what has already happened and what remains unresolved.
An introductory discussion is not a confirmed borrowing assessment. Further information may be needed.
Before progressing, make sure you understand the scope of advice, applicable fees, required documents, proposed lender application and authorisations—including any credit checks.
If preparation is needed first, our financial preparation guide explains common areas to get organised.
Conditional pre-approval can help guide your property search, but it does not necessarily mean the lender has accepted the home you later choose.
Check the approval conditions and expiry date. Before committing unconditionally, confirm the finance position with your lender or adviser and obtain your lawyer’s advice. Tell them early if you intend to bid at auction. Settled explains why finance must be confirmed for the purchase.
Our going-unconditional guide covers that stage in more detail.
Understand the repayments, loan structure, fees and remaining conditions before accepting the mortgage.
Your adviser supports the mortgage decisions and lender communication. Your lawyer handles the legal work and settlement arrangements.
The amount a lender is prepared to lend is not necessarily the amount you feel comfortable repaying.
When comparing options, consider:
Allow separately for purchase costs such as legal work, inspections, valuations where required and moving.
The aim is to understand the commitment you are taking on—not simply the maximum loan available.
You may already have an offer but still feel unsure about its conditions, repayments or overall costs. Understanding those details can help you decide whether the offer suits your first-home plans. Reviewing it does not necessarily mean changing lenders.
If your application has instead been declined, start with our Bank Said No guide for the next steps.
Platinum is generally paid commission by the lender when a loan settles. Fees can apply in some circumstances, including non bank or private lending, commission clawback and certain administration situations.
Ask which charges could apply to your engagement and what would trigger them before proceeding. Tell us at the outset if you are also working directly with another bank or broker.
Yes. You do not need to know exactly what you can borrow or have every part of your first-home purchase worked out before getting advice. We can review where you are now, explain what may need attention and help you understand the next steps before you make an application or commit to a property.
You do not need to be ready to apply before speaking with us. We work with first-home buyers at different stages and can help identify what may need attention before an application is worthwhile. Where appropriate, we can map out a practical plan to help you get ready, then review your position as things change.
Yes. If you are buying with a partner, family member or another person, we can look at the application as a whole, including each applicant’s income, commitments, deposit contribution and borrowing position. We can then explain the lending considerations that may affect the joint application.
No. You can discuss your borrowing options before selecting a property. If you have already found one, provide its details and any purchase deadline.
Approval timeframes vary depending on the lender, your circumstances, the information required and whether a property is already involved. If you are working towards an auction, offer or other deadline, tell us as early as possible so we can explain what may be achievable.
Prefer to call? Call us on 0800 536 346
Ready to provide your details? Start your online application.
Platinum Mortgages New Zealand Limited (FSP752271) is a Financial Advice Provider licensed and regulated by the Financial Markets Authority. Angela Downie (FSP742251) is a Financial Adviser at Platinum Mortgages who provides mortgage advice to New Zealand borrowers under that licence and has worked in the financial industry since 2006.
For your first-home purchase, the focus is on understanding your borrowing options, the commitments involved and the questions still to resolve, with mortgage advice and application support suited to your circumstances.
Read our client reviews and learn more about Platinum Mortgages’ industry recognition and awards.
This information is general and is not personalised financial or legal advice. Lending is subject to assessment, lender criteria, terms and conditions.
