Buying your first home is a big milestone. We're here to make it easier with expert guidance, helpful tips and support at every step of the way.
Your deposit
Saving for a deposit isn’t always easy, but every bit you put aside brings you one step closer to owning your home. Try our home loan borrowing calculator to get an estimate of how much you could borrow.
Ways to build your deposit
1. Your own savings
Typically, you’ll need a deposit of 20% of the property’s value. Don’t worry if you’ve saved less, there may still be options available to help you get there. Talk to one of our lending specialists - they can walk you through your options. You might be closer to getting the keys than you think.
Setting up a dedicated savings account and putting money aside regularly (even if it's just a little) can really add up over time.
A TSB WebSaver account lets you save without being locked into a fixed term investment.
2. KiwiSaver first home withdrawal
If you’ve been contributing to KiwiSaver for at least three years, you may be eligible to withdraw funds to help with your deposit. To qualify:
- You must intend to live in the home (not for investment)
- You need to leave at least $1,000 in your KiwiSaver account
- You must not currently own any other property or land
- The property must be in New Zealand
3. Family support
Gifted deposit
Family can gift you part or all of your deposit. If it’s a loan rather than a gift, let us know—it may affect your loan application. We recommend both parties seek legal advice.
Guarantor support
A family member can use the equity in their home to guarantee your loan. This is a big commitment, so legal advice is essential.
Loan from a family member
A family loan is another option. There are just a few things to keep in mind: You’ll need a Deed of Acknowledgement of Debt, which sets out the loan terms. You'll also need to confirm that no mortgage or caveat will be added to the property, and that the loan doesn’t need to be repaid while you still have a home loan with TSB.
Pre-approval
Ready to start house hunting? Getting pre-approved is a smart way to start. It gives you clarity on how much you can borrow, so you can house hunt with confidence. We’ll look at your financial position, including your income, savings, expenses, and debts to work out how much you can borrow and make sure your home loan fits comfortably with your lifestyle and budget. By having this, you'll:
- Know your price range before you start looking
- Strengthen your position when making an offer
- Save time by focusing on homes you can afford
How to get pre-approved
You can either complete our online home loan application form or contact one of our lending specialists, who can help you through the process.
Once pre-approved, you're ready to start house hunting with confidence - and make offers knowing your budget is backed by your bank.
How to apply for a home loan
Making an offer
Found the perfect property? Here’s how to take the next step towards owning it.
Talk to us first
Before you make an offer, share the property details with your TSB lending specialist to confirm how much you can offer.
Get legal support
Before signing any sale and purchase agreement, you’ll need to get it looked over by a lawyer and ensure all legal boxes are ticked.
Understand your offer
- Conditional offer: Includes clauses like finance approval or a building inspection.
- Unconditional offer: Once all conditions are met, your offer becomes binding—and you’re nearly a homeowner!
Sort your loan
We’ll help you choose the right loan type and repayment plan. Find out more about loan and repayment options.
Try our home loan calculator to estimate your repayments and see what fits your budget.
Get your insurance sorted
Before your loan can be finalised, you’ll need to provide proof of home insurance. This protects your new property and gives the bank confidence to release the funds.
We've got you covered - we partner with Tower for general insurance, like home, contents and car.
How to apply for your first home loan
You can apply for a home loan online. You'll need to get together your personal and financial details, and set aside about 20–30 minutes to complete your application. See our checklist below of the documents you’ll need to provide.
Prefer to talk?
If you're unsure about any of these steps or would like to discuss your options, our lending specialists are here to help. You can chat with one of our lending specialists on 0800 231 232, Monday to Friday, 8:30am–5pm. Or simply fill out our home loan enquiry form, and a lending specialist will contact you.
What you'll need to apply
When you apply for a TSB Home Loan, you’ll need to fill out a statement of financial position, including your income, savings, expenses, and debts. This gives us a snapshot of your current financial situation, so we can work out how much you can borrow.
Tip: Make sure the details in your statement of financial position match the bank statements you provide.
Once you've submitted your application, one of our lending specialists will contact you within three business days to discuss your application and next steps.
You'll also need to send us:
- Proof of income
The three most recent pay slips for each person applying, to help us confirm how much you earn. If you’re self-employed, you’ll need to send your last two years of financial reports, or if you’re a contractor, you’ll need to send your last two years of individual income tax returns (IR3). - Bank statements
To help us understand your spending and expenses we’ll need the last three full months of bank statements for:- Your main transactional accounts (unless they're with TSB). This might be your transactional everyday account or your credit card.
- Accounts where your income is deposited (if this is different to your main transactional accounts).
- Loan balances
If you’re responsible for any loans in the name of a company or trust, you’ll need to provide the most recent statement – this includes any personal loans, car loans, or other finance. - Using your KiwiSaver?
We'll need confirmation from your KiwiSaver provider showing how much you can use toward your deposit. - Getting help from your family?
Whether it’s a gift, a loan, or someone acting as a guarantor, we’ll just need a few details to confirm the support. Chat with one of our lending specialists -they’ll guide you through what’s needed and help make the process easy.
Note: All statements must be PDF statements downloaded from online banking or provided by your bank (we’re not able to accept scans, paper copies, or any other file types).
Having all these documents ready to send us can help speed up your application and make the process much smoother.
If you’re unsure about any of these steps, we’re here to help — just get in touch.
Get in touch
Take the next step that suits you
Looking for help?
Talk to a home loan specialist
Whether you’re just starting out or ready to apply, we’re here to help you with your home loan. You can chat with one of our lending specialists on 0800 231 232, Monday to Friday, 8:30am–5pm. They’ll answer your questions, help explore your options, and guide you through the home loan process.
Need help outside of these times? Our Mobile Mortgage Managers can come to you, or you can chat to them over the phone or a video call - so you can get help when it works best for you.
Important information
General Lending Terms and Conditions:
- TSB may approve residential loans with less than a 20% deposit subject to bank funding requirements.
- An early repayment fee may apply on fixed rate loans.
- All interest rates are subject to change.
- Lending criteria, terms and conditions and fees apply.
- When you bank with TSB you agree to our General Terms.