WELCOME HOME LOAN

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We’ll go through all the necessary steps you should take before you buy your first home. Our experts will help you to find the home just right for your circumstances. We will let you know which bank has the best to offer, negotiate and complete all things important.
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How Does Welcome Home Loan Work

Welcome Home Loans can be issued by selective bank and lenders underwritten by Kainga Ora [a government entity]. This arrangement allows borrowers to borrow more than their actual borrowing standard. There are three things to consider if you are interested in acquiring your first home loan in New Zealand.

Check Your Eligibility: There are set criteria for borrowers and lenders
How to apply for welcome home loan: You can apply directly on Kainga Ora website and follow their instructions, or you can just call us on 09 845 4545, and we will help you out
List of home loan lenders: Go through the list of participating lenders

Welcome Home Loan Criteria

You will need at least 5% of deposit [as per Feb 2020] while applying for Welcome Home Loan. This deposit can not be borrowed, although it can be a gift from your friends & family. You also need to meet the income cap and house price cap criteria and specific lending criteria laid by the participating lenders. Different lenders might have different lending criteria.

Income Cap for First Home Loan

If you are a single borrower, your household income should be less than $85,000 (before tax) in the past 12 months. If you are applying jointly as two or more borrowers, then you can have a combined income of not more than $130,000 (before tax) in the past 12 months.

House Cap for Home Loan

Besides your income, you also have criteria for the house you can buy. It depends on the region you are buying and also the type of house you are planning to buy.

$650,000: Auckland, Queenstown Lakes District
$550,000:Hamilton City, Tauranga City, Western Bay of Plenty District, Kapiti Coast District, Porirua City, Upper Hutt City, Hutt City, Wellington City, Nelson City, Tasman District, Waimakariri District, Christchurch City, Selwyn District
$500,000: Rest of New Zealand

Whichever area you buy or whatever type of house you buy, you have to reside in the house for at least six months, before you can sell it off.

Type Of House: Should be a New Built House.

Can I Build a House with Welcome Home Loan

Check the criteria with the lender you select, some lenders does lend welcome home loans for building your first house. You can also call us on 09 845 4545 rather than haggling around the banks, we will help you on the phone itself. Majority of the time you are not charged as we get paid by the lenders.

Repay Your Loan Faster

Once you get the Welcome Home Loan you are able to repay the loan in easy repayments same throughout your legnth of the loan, also known as “Table Loan”. As the loan interest decreases with your repayments, the principal repayment increases and your loan gets paid, all the while your repayment amount stays the same. You can choose to mix n’ match a range of interest rates, terms and repayment options to a home loan that suits you best. We at Life Secure can show you ways which enables you to pay off your home loan faster. We have helped hundreds of Kiwis to save thousands in their repayments.

Key Reasons To Choose Life Secure

Save time: Calling up every bank to discuss rates and options can be daunting. Let us do the work for you!

Lessen the stress: We know all the right questions to ask, so you don’t need to worry about its technicalities and between the lines complexities

Expert knowledge and experience: By our experience, we know what the banks want and know how to present your case in the most favourable way.

Network Access: We associate with most major banks and even some who you may not have considered talking to.

Help to repay your loan faster: We help you structure your loan in the most efficient way aiming to pay it off at the earliest.

Unbiased opinions: We will review all available packages and find the deal that is the best fit for your circumstances.

The bank may not tell you everything, so we are here to fill in those gaps!

There’s no wrong or right time for buying a property. It’s always the right time, when you pick up the phone.

How About We Review Your Circumstances and Offer You the Right Advice

09 845 4545

Call us to save thousands of dollars, we will show how.

We take it upon ourselves to closely monitor the financial market, identifying when changes to interest rates are likely and talking to you about the potential effects.