ANZ New Zealand

The ANZ website contains the following categories:

Home Loans

First home purchase

The buying process

So you’re thinking of buying your first home. We’d like to make the process as easy as possible for you, so here’s some practical information to get you started. If you’d like more detail on how the home buying process works, visit our learning centre, contact an ANZ Mobile Mortgage Manager or visit any ANZ branch.

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Initial consultation

First up, it’s a good idea to meet one of our ANZ home loan specialists or Mobile Mortgage Managers to talk about your savings goals. These days, most people need to save enough for a 20% deposit towards their house purchase and allow an extra 5% for unforeseen costs – and you’ll also need to consider additional legal expenses. Remember, the more you deposit, the more purchasing power you’ll have. Want some help working out how much you need to put aside to reach your savings goals? Use our savings goal calculator or our savings over time calculator to find out how much you can save by putting aside money on a regular basis.

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Setting a budget

Doing a budget will help you to understand your current situation and give you an idea of your price range for buying a home. It will also help you to see how close you are to reaching your savings goals. Need help? Use our budget planner.

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How much can you borrow?

Before you start searching for a home, it helps to have an idea of how much you’ll be able to borrow. Our borrowing power indicator will give you an indication of how much you can borrow. And our loan repayment calculator can help you to work out:
  • your loan payments
  • how long it could take you to pay off your loan
  • a loan amount based on a payment amount of your choosing.

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Working out what you need

As a first-time home buyer, you may have to make some decisions on how to structure your home loan. Do any of these situations apply to you?

I only have a small deposit

  • You may be eligible to borrow up to 80% of a property’s value. Note that the maximum amount you can borrow depends on the property’s location, the property type, the home loan type and other ANZ lending criteria.
  • In very exceptional circumstances, we may lend over 80% of the property’s value, a low equity premium on a graduated scale will apply (the fee range is 0.20% to 1.25% of loan amount) and a registered valuer’s report is required.
  • Consider getting a guarantee from parents or other family members for the amount of the deposit.
  • With joint borrowing, you can borrow money for your deposit jointly with your parents or other family members. The home loan will be assessed on your joint financial situation.
  • Your parents or family members may also be able to give you the amount you need for your deposit as a gift.

I’d like some extra money to buy furniture and appliances

  • Depending on your loan type, you may be able to apply for an ANZ Loan Repayment Holiday (for up to three months) every two years to help you free up extra cash.

I’d like to do some renovations straight away

  • Consider a home loan that you can draw on, as you need the funds to pay builders, plumbers, etc.

I’m not going to need all of my home loan at once

I want to keep my payments as low as possible

  • A 30-year repayment term will help to keep your regular payments to a minimum.

I want to pay off my loan as fast as possible

My income varies – sometimes I have extra money available that I’d like to put towards my home loan

I may want to change my home loan set-up later on

For more information on buying your first home, order one of our free ‘Getting ahead with home ownership CDROMs or use our home loan selector to create a customised package that will work for you. For more help or advice, contact an ANZ Mobile Mortgage Manager or any ANZ branch to make an appointment.

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Get pre-approved finance

Buying a home is much easier when you have your loan pre-approved. It shows real estate agents and vendors that you’re serious about buying, it can speed up the loan documentation process and it enables you to bid at house auctions. With an ANZ pre-approved home loan certificate, you’ll have our conditional approval to borrow up to a certain amount. The certificate will be valid for 120 days from the date of issue and will have some specific terms and conditions. To find out more about or apply for an ANZ pre-approved home loan certificate:

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Choose where to live

It’s important to choose the right location for you. To make it easier, take a look at our overview of the issues you should consider – and our house hunting wish list will help you to decide on the essential features of your new home.
Here are some other resources to help you choose the right place to live:

NZ Property Magazine online

Look up housing statistics in your area or ask an expert for professional property advice.

Schools in your area

The Education Review Office has information on all schools and early childhood centres in New Zealand, as well as reports on the quality of education they provide.

Valuation and property information

Quotable Value provides information on sales and valuations, property trends and individual property details – and offers an instant valuation service.

Home inspection tips

These tips provide a useful guide on what to look for in a property.

Property checklist (PDF, 37kb)

Take this handy checklist with you when you inspect a property – and rate the specifics as you go. Remember, always get professional advice before you buy.

Department of Building and Housing

This site contains information on building guidelines and legislation, tenancy advice for landlords, weathertightness and leaky building information for homeowners and details on the Weathertight Homes Resolution Service.

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What loan or combination of loans will suit you?

We offer a wide selection of home loans, packed with flexible features that make managing your loan easy. Take a look at the loans available.

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This material is for information purposes only and you should obtain professional advice relevant to your individual circumstances. While ANZ, part of ANZ National Bank Limited, has taken care to ensure that this information is from reliable sources, it does not warrant its accuracy, completeness or suitability for your intended use. To the extent permitted by law, ANZ does not accept any liability arising from your use of this information.

ANZ lending criteria, terms and conditions and fees apply to all loans.

You can ask for more information, including full terms and conditions for all of ANZ's lending products and a current Disclosure Statement, published by ANZ National Bank Limited, at any ANZ branch.

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