FAQ

Common Mortgage Questions in New Zealand – Answered by Martin at Mortgage Group

If you're looking to understand how mortgages, home loans, and mortgage brokers work in New Zealand, this guide covers the most frequently asked questions.

1. Can I get a home loan with only a 5% or 10% deposit? My bank said no.

   Yes, you can — especially if you're a first home buyer.
   While some banks have strict deposit requirements, others are more flexible. As a mortgage broker, I have access to a wide range of lenders, including those who accept lower deposits.
   
   

2. Will I get better interest rates with a 20% deposit?

   Yes, you will — and I can negotiate even sharper rates for you.
   Having a 20% deposit often qualifies you for more competitive interest rates. As your broker, I work with multiple lenders to ensure you're getting the best deal available.

   
   

3. My deposit is only made up of KiwiSaver funds. Can I still get a mortgage?

   Yes — most banks consider KiwiSaver as part of your savings.
   Even if you don't have other savings, many lenders will still approve your home loan if you meet other lending criteria.

   
   

4. Can I get a home loan with bad credit history?

   In many cases, yes.
   If your defaults have been paid and you can provide a good explanation, I can often find a lender willing to help. Every bank has different lending policies, so navigating this correctly is key — and that’s where I come in.

5. I’ve just started a new job. Can I still apply for a mortgage?

   It depends on your deposit size and whether you're on a trial period.
   Generally, if you have experience in the same industry and a stable work history, lenders will be open to considering your application.

6. How many banks are you accredited with?

   I have access to all major banks and a wide range of finance companies in New Zealand.
   This means I can compare options across the market and match you with the right lender for your situation.

7. How do you get paid as a mortgage broker?

   My services are free for you — I’m paid a commission by the bank when your home loan is approved.
   There are no hidden fees, and you get expert advice without the cost.How do you get paid?

   The banks pay me a commission when you buy your home, so for you, my services are free.
   

8. I already have a pre-approval with my bank or another Financial Adviser, Mortgage Broker— can you still help me?

   Absolutely — let’s review it together.
   Whether it's from your bank or another broker, I can assess the pre-approval and let you know if it's competitive. If not, I’ll help you explore better options.

   
   

   Got More Questions About Mortgages?

   Every situation is different, and mortgage advice isn’t one-size-fits-all. I’m here to simplify the process, explain your options, and help you feel confident about your decisions. So please get in contact with me today….