What’s happening to Home Loan Interest Rates ???
The Reserve Bank yesterday reduced the Official Cash Rate (OCR)…
Welcome Home Loans – Do I Qualify???
Welcome Home Loans are low deposit home loans designed to help people get into that first home and on the property ladder. To achieve this, Housing New Zealand underwrites loans that fit standard credit worthiness and serviceability criteria, but have a lower level of deposit than we would otherwise require.
If you are not eligible for finance under a bank’s credit policy, you may qualify for a Welcome Home Loan.Top of Form.\
It is for people who can service their home loan, but may have insufficient deposit to meet the Bank’s standard lending requirements. If you ;
- are a first home buyer or “second chance” home buyer **
- are buying the home to live in
- have a household income of less than $ 80,000 for a single borrower, or $120,000 for two or more borrowers
and have a minimum of 10% deposit, you may qualify.
The borrowers must either be a NZ citizen or hold a NZ Permanent Residence Visa. Borrowing must be in individual or joint names. Family trusts and business entities are excluded. *Second Chance Home Buyers – Housing NZ considers second chance buyers to be any one who is in the same or similar asset position as a first time buyer. They may have sold a home and have less than 20% deposit. Property Price Caps
- $485,000 Auckland
- $350,000 Hamilton City, Thames Coromandel District, Tauranga City, Western Bay of Plenty District,
- $300,000 all other regions.
Nuts & Bolts
- Interest rates: A Welcome Home Loan can be on a fixed, floating or capped interest rate.
- Lenders Mortgage Insurance Top of Form (LMI). Because Welcome Home Loans are insured, LEM does not apply. The premium charged for LMI is 1% of the total borrowing required to purchase the property. This can be capitalised to the loan.
- Application fee A $400 application fee will apply.
- Supporting documentation All information including the authorisation form is required when application is made. The exception being the Sale and Purchase Agreement and Registered Valuation which can be conditioned for.
Feel free to talk to me your Tauranga Mortgage Broker if you have any questions.
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Featured Articles
Thank you so much for helping us get here and all your help/advice. Next time we catch up it will have to be here at the beach. Have a great Christmas…
Tim and Ash Stanley
Waihi Beach, December 2017
Thank you so much for assisting us into our home. You made something which initially was daunting much easier than we anticipated. We really appreciate all your efforts.
Peter Sims and Sharon Dempsey
Tauranga, November 2017
Kia ora, Thank you for your continued encouragement and support. A tricky journey at times but very great full for everything!!!!!!! Sophie, Wiremu, our sons and family.
Thompson and Anania
Te Puke, October 2017
All is good Lindsay. Thanks again for your valued help and support.
Barry Illingworth
Katikati, September 2017
Thanks for all your help with our property transaction. You helped both me and my family to get into property ownership. We couldn’t have achieved this without you.
Kriss Hetherington
Tauranga, August 2017
Thank you so much for helping us to attain our dreams ! It is much appreciated
Mike & Cal Burke
Tauranga, July 2017
Lindsay, Thank you so much for helping us with sorting finance. We appreciate your knowledge in this area and are grateful to have you on Board.
Chris and Rebecca Stanley
Whakatane, June 2017
We wanted to say the BIGGEST THANK YOU to you for all your help getting us into our first home. Your support, advice and guidance was invaluable. We loved getting…
Jared and Michelle HARPER
Tauranga, May 2017
Thank you Lindsay. You have been fabulous, as always.
Kirsten Santos
Tauranga, April 2017
Awsome thanks very much Lindsay, you have been so helpful and patient and really helped us understand the process. We will definitely be in touch when it’s time to re…
Lance Mustard and Kirstie Sutherland
Tauranga, April 2017
Thank you so much for your excellent work and support.
Mike and Cal BURKE
Tauranga, March 2017
Thank you so much for your swift and efficient service.
Dan Carr
Tauranga, February 2017
Thanks for helping us make home ownership a reality. You have made what seemed like a huge task so easy. Really appreciate all you have done for us.
Clinton Heard & Jenny Dowds
Tauranga, January 2017
Thanks Lindsay, appreciate all you have done. Catch up for a cold 1 or 2 when you next call.
Peter Maxwell
Tauranga, December 2016
Thanks so much Lindsay, it’s now all worth it. Really appreciate all your effort with this. Thank you again.
Chloe Jarrett and Brook Kelly
Tauranga, November 2016
Thank you again for your help. We look forward to hearing from you in the future.
Rachel Sinden and Michael Rowley
Tauranga, October 2015
Really appreciate all you have done for us. Thank you.
Aaron Doleman and Emma Dijk
Tauranga, October 2016
Thanks for the emails and advice. As before, it has been very easy and pleasurable dealing with you and everything has gone without a hitch thanks to you and your understanding. …
Barry Illingworth & Sharon Maloney
Katikati, September 2016
Thank you so much for all your help. You have really made this process less daunting. So happy to get the keys yesterday. House is awesome and we are really excited to…
Kylee Soanes and Michael Brown
Tauranga, August 2016
Thank you so much for all your help.
Sian and David Boston
Tauranga, August 2016
Thank you so much for all your help. Really appreciate it and will defiantly refer you to anyone and will come back to you wen ever we need your help.
Stella and Mat Mickleson
Tauranga, July 2016
“THANK YOU”. We are grateful to you for securing us a great mortgage deal. You made the whole process very easy … even from Darwin. Sincerely Cam & Bec.
Cam and Bec Bradbury
Darwin, Tauranga, June 2016
Thank you for all your help getting us set up with a Bank. We are loving our new home !!!. All the best.
Shara Paulo and Matt Moore
Tauranga, April 2016
Thank you for all your help with sorting the mortgage recently. Couldn’t have done it without you. Keep in touch and let me know when you’d like to go fishing.
Keith Edwards
Katikati, March 2016
Awesome. Thank you very much for helping us get through it all…we would have been lost without your help so really appreciate the time and effort you put in to…
Hayden Park and Larissa Gordn
Te Puke, February 2016
Thank you for all you have done for me. The changes you have made has changed my life enabling me to get to my goals quicker than I ever thought.
Nigel Bailey
Tauranga, December 2015
Just wanted to say thanks again for your help with organising everything.
Sam Cummins
Tauranga, November 2015
Awesome news, thanks for all your help with everything.
Dani Jurgeleit
Tauranga, October 2015
Thank you for all your help and guidance as we negotiated our way through this house buying process. We’re very happy with our new place and couldn’t have done it…
Chris & Rebecca Stanley
Whakatane, September 2015
Just wanted to email you to say a huge thanks for all your advice and guidance through the process of purchasing the property. I really value your insight and clarity…
John and Lynn Stanley
Tauranga, August 2015
Thanks heaps for everything you did to help me with my loans.
Garry Critchley
Auckland, August 2015
Thanks so much for your help Lindsay – You’ve been fantastic and we highly recommend you whenever possible!
Michael Gordon and Tracy Bailey
Tauranga, July 2015
Hi Lindsay, Thanks again for your help, we are very happy with the deal we got! Even our personal banker was shocked!
Morgan and Casey Brodie
Tauranga, July 2015
Thank you so much Yay that is very exciting it’s official!!!! Thanks again for all of your help we really appreciate it.
Amanda and Justin Herbert
Tauranga, July 2015
Thank you very much for everything. We love our new home 🙂
Marak Zadak and Jitka Rydlova
Tauranga, July 2015
Thanks Lindsay. It has been a hassle free experience, thanks to your help.
Anne-marie Bailey
Tauranga, July 2015
Great!!! Thank you so much for all your help! Couldn’t have done it without you 😄😄😄😄
Amanda Brophy
Auckland, July 2015
That is amazing thanks for that. We are super exciting. Thanks again for all your help.
Steph Smith and Dave Bundle
Tauranga, June 2015
Hey Lindsay, Thanks very much for your time spent with us. Great we finally got there in the end. The house has settled and we are moving in over the…
Mathew Gerrard and Karina Ross
Auckland, June 2015
Hey Lindsay, Much appreciated man, money came through. Thanks
Jens Ottosen
Tauranga, May 2015
I really appreciate the professional way you looked after us, always keeping us informed and achieving the best result for us. Our previous Bank made things difficult where you made…
Jacob and Hannah Wanhill
Tauranga, April 2015
Thanks for all your help It’ll make life a lot easier and everything just so much better. Couldn’t have come at a better time Cheers
Debbie Mitchell
Tauranga, March 2015
Our new Bank is fantastic. They even visited me at my home !!! and were impressed with what we have done. The service is fantastic and we are clearly in…
Jude Reyland
Tauranga, March 2015
The changeover went great Lindsay. Thanks for all your help and assistance.
Klaudia Wisnewski and Charles Champness
Mount Maunganui, March 2015
Thanks Lindsay, the change over went like clockwork. Really appreciate all that you have done and taking us to a better Banking place. Will be recommending you to everyone I…
Dennis and Delwyn Barrington
Tauranga, February 2015
Thank you Lindsay for all you have done for us. You are a trusted advisor, and your assistance has been invaluable to us in achieving our goal successfully.
Alistair & Helen MacKenzie
Te Puke, February 2015
In returning to New Zealand from the UK, I was not up with the requirements and processes of NZ Banks. Your knowledge and assistance is greatly appreciated. Thank you.
Nigel MacKenzie
Wellington, January 2015
Thank you for helping me achieve my Business Goal. Your knowledge and expertise helped me get to where I wanted. Thanks again.
Logan Hunter
Tauranga, January 2015
Really appreciate your advice, help and assistance with changing Bank’s. You made a complicated process easy.
John and Maxine Young
Tauranga, December 2014
Really impressed with all that you got for us. Thanks again.
Paulk Cade & Abbey Minnell
Tauranga, December 2014
Many thanks for all you have done. I liked the really nice and easy to follow to format.
Craig & Rachelle Young
Auckland, November 2014
Thank you Lindsay for helping us to get into our new home. We were first home buyers and did not understand much and your advice and guidance was great. You…
Gyan and Shantra Deo
Tauranga, October 2014
Thank you for securing that extra special rate for us 🙂 !!!
Linda Kells
Katikati, September 2014
Stoked to have you arranging all this and negotiating for us. Awesome.
J Fryatt
Tauranga, September 2014
All went through without a hitch, Thank you for all your hard work in getting us such a great deal! We will be sure to recommend you to all we…
Garrick Yates
Auckland, September 2014
That is really great. I really appreciate what you have done for me.
Campbell
August 2014, Tauranga
Thank you Lindsay, It has been our pleasure all the way. Appreciate the assistance that you have given us
Barry Illingworth & Sharon Maloney
July 2014, Katikati
Thanks Lindsay. Yes things have gone all to plan with the Bank and all went seamlessly!
Hayden Jost
June 2014, Katikati
Thank you for all your help, you made the process so easy. We really appreciate you getting the application together and getting it off to the bank in such a…
Rachael McKain
June 2014, Tauranga
Thank you Lindsay for all your help. You made something which was stressful for me really easy. I am so glad I got you to do it all for me.
Cheryl Thompson
May 2014, Tauranga
We wouldn’t be in our new home if it wasn’t for you Lindsay. You put together our proposal in an easy and professional format. You communicated with us and we…
Alistair & Helen McKenzie
May 2014, Te Puke
We are very pleased with you services and assistance.
Bryce and Annemarie Thompson
March 2014, Tauranga
Thanks Lindsay, your efforts have been appreciated. We are grateful. Thanks for setting this out so simply (another one of your extraordinary talents). Many Thanks.
Bernie Breese & DJ Smith
March 2014, Nelson
You have been really helpful and saved us money on Interest. Thank you again.
Skellett
March 2014, Tauranga
I needed expert help and I got it to!! Thank you, Lindsay for restructuring our life, thank you for believing in us as your clients. May we have many more…
Kevin and Donna Wiki
January 2014, Tauranga
Your services were great throughout the whole experience and thanks for sticking with us during the difficult parts! Looking forward to next year and reviewing the situation.
Simon Graves & Lynn Simons
December 2013, Tauranga
I would suggest everyone uses Lindsay Horne as their mortgage broker. Not only did he explain the differences in the mortgages of two banks simply & in plain easy to…
Glen Johnson & Trudi Fausett
November, Tauranga
We were referred to Lindsay through a friend that had found him great and so we got in contact with him for our first home mortgage. We found Lindsay to…
Mitchell & Erin Horton
Mount Maunganui, November
Thank you for all your help in refinancing our Home Loan, and following through by getting unexpected charges refunded.
Gwen & Ian Johnson
Tauranga, October 2013
Thanks Lindsay. Everything has gone to plan. I really appreciate your help. It’s good to have someone you trust, to guide you through the process.
Hamish Spall, Tauranga, October 2013
Tauranga, October 2013
I have known Lindsay for a few years now and he had always handled my mortgages. I was trying to do alterations to my house when he wasn’t there…
Debbie Mitchell
Taurangas, September 2013
As a first home buyer, I did not know much about the process of buying a house. Lindsay came to see me at my residence and explained the process to me.…
Aaron Johnson
Tauranga, August 2013
We set out to build our rental portfolio around one year ago. We have our own set buying criteria, and we’re now on our 10th house! And the finance side…
Steve and Michelle Baskett
Auckland, August 2013
Thank you for all your help, encouragement and support in purchasing our new property. We really appreciated your expertise and absolute commitment in seeing us succeed.
Dan,Glenis & Karen Jensen
Ohauiti, Tauranga, July 2013
Thank you for making our new banking life so awesome, and thanks for following it through until the end.
Donna Wiki
Te Puna, Tauranga, July 2013
I’ve known Lindsay for a few years now, and I recently had the opportunity to test his services on a property transaction. The finance went smoothly, and I’d happily recommend…
Brian Kent
Matua, Tauranga, July 2013
Our fixed mortgage rate was expiring on our house and also our investment properties, so I discussed the options with my partner and we decided to give Lindsay a call. Lindsay…
Neil McIntosh & Karon Stewart
Maungatapu, Tauranga, June 2013
We came to Lindsay to buy our second property, which had a finance deadline looming. He acted quickly and had an offer to us in a short time frame. A…
Cliff and Karen Walsh
Te Puke, April 2013
I found the whole process enjoyable to be honest. You explained how it all works really clearly which made me feel relaxed. You recommended a great lawyer for all the…
Susan Karl
Bethlehem Tauranga, Feb 2013