Home loan deposit options

Getting the deposit together for a new home can be challenging. ANZ can help. We’ll talk you through all the options and we could help you into a home faster than you think.

How much do you need for your deposit?

There’s no hard and fast answer. It depends on a range of things, such as your particular situation and the type of home you’re buying. While the Reserve Bank placed restrictions on the percentage of home loans banks can lend to people with less than 20% deposit, it’s important to remember that there are other options available to you to help get your deposit together.

Even if you don't have your full deposit ready, you can start the application process now. Once you’ve filled in the form, one of our home loan experts will be in touch to talk to you about options to help you get your deposit together, or, if you're ready to buy, they can talk you through the next steps towards getting a conditionally pre-approved home loan.

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Other deposit options

Using KiwiSaver

KiwiSaver has two features that can help you buy your first home in New Zealand:

  • Early withdrawal: You may be able to withdraw the total amount in your KiwiSaver account less $1,000 and any amount transferred from an Australian complying superannuation fund, to put towards your first home.
  • KiwiSaver HomeStart grant: If you’ve been a regular contributor to KiwiSaver, you might also be eligible for a grant to help you buy your first home.

Conditions apply to both the early withdrawal option and the KiwiSaver HomeStart grant. You can find out more at ANZ FutureWise.

Learn more about using KiwiSaver

Getting help from family  – Gifting and Guarantees

If you have family who would like to help you get into your first home, you may want to explore gifting or guarantee options. They can be effective if you’re able to meet the repayments on a home loan, but don’t have the deposit you’d normally require.


Gifting is when someone else, like a family member, gives you some of the money you need for your deposit. Your family member could also lend you some of the money you need for your deposit, on the agreement that you repay it later.

If someone is giving you money for your deposit, we'll need confirmation that you won't need to repay that money until you sell the property. Both you and the family member(s) concerned should get legal advice before taking up this option.


In some cases, we may be able to take a mortgage over a home owned by someone else, for example your parents, as extra security for your loan. Where this happens, we'll need a guarantee from the owners of that home. Under a guarantee, someone agrees that they will be responsible for some or your entire loan if you're not able to pay it for any reason.

There are a number of conditions that both you and the family member(s) providing the guarantee will need to meet, and you'll both need to get legal advice before taking up this option.

Using existing equity

What is equity?

Equity is the difference between a property’s value and the amount you owe on it. If you sold your property and repaid your mortgage, your equity would be the amount left over.

For example if you have a house worth $400,000 with a $100,000 mortgage, you have $300,000 of equity in the property.

Using the equity in your home for an investment

Rather than having to save up the cash, you can use the equity in your existing home to help purchase an investment property.

For example, if you have $200,000 of equity in your existing home, and you want to buy an investment property worth $140,000, you may be able use equity in your existing property to purchase or as a deposit towards purchasing an investment property.

ANZ lending criteria, terms, conditions and fees apply. A low equity premium applies to new home loans with less than a 20% equity or deposit. A copy of the Reserve Bank Disclosure Statement published by ANZ Bank New Zealand Limited may be obtained on request from any ANZ branch.

This material is for information purposes only. Its content is intended to be of a general nature, does not take into account your financial situation or goals, and is not a personalised financial adviser service under the Financial Advisers Act 2008. It is recommended you seek advice from a financial adviser which takes into account your individual circumstances before you acquire a financial product. If you wish to consult one of ANZ's financial advisers, please contact us on 0800 269 296.

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