How much deposit do you need to buy a house in NZ?
Channel: The Mortgage Lab
Date: 2022-03-22

Wondering how much money you actually need for a deposit on a house? Rupert Gough, CEO of Mortgage Lab talks you through the numbers.

"The amount of income varies vastly and is actually quite a hard number to nail down.  The amount required varies from bank to bank and is also highly variable depending on your monthly expenses, how many children you have and your secondary debt - things like credit cards for instance..."

Read more in our blog www.mortgagelab.co.nz/how-much-deposit-do-you-need-to-buy-your-first-home

If you are unsure where to start or have any questions, don't hesitate to contact the team at mortgagelab.co.nz/contact-us, we're here to help.

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Our Video Chapters
0:00 - How much deposit do you need to buy a house in New Zealand?
0:48 - What is a good deposit percentage?
1:48 - What should you do if you have Cryptocurrency, Shares and/or Foreign Currency
2:22 - How much of your savings should be savings?
2:40 - What happens if your family gives you money for a deposit?
3:10 - What is a low deposit borrower?
3:25 - How many low deposit borrowers do banks work with?
4:08 - How do banks treat a low deposit borrower?
4:58 - Who is a priority to the bank?
5:11 - Should couple be with the same bank?
5:24 - What is a "bank customer"?
6:05 - What is your income based on?
6:38 - .What are the key numbers?