Mortgage advice, from pre-approval to settlement and beyond

A mortgage adviser compares home loans from multiple banks and non-bank lenders, helps you apply, and manages the process through to settlement. At Moneyplant we also help you set up the right loan structure and check in when it's time to refix.

For most clients, nothing. The lender pays Moneyplant a commission when your loan settles. Fees can apply in some situations, such as if you refinance within 27 months or move to another adviser after we've secured approval. Our public disclosure sets these out.

Many banks prefer a 20% deposit, but some lend to first-home buyers with less, depending on your income, the property and the bank's current policy. New builds can also have different rules.

It varies by lender, but pre-approvals commonly last around 90 days and can often be renewed.

Fixed rates give certainty for a set term; floating lets you repay more without break fees but usually costs more. Many people split their loan across fixed terms and keep a small floating or revolving portion.

Possibly, through the Kāinga Ora First Home Loan, offered by participating lenders. It's for first-home buyers who can afford the repayments but find it hard to save 20%. Income limits apply (currently $95,000 for a single buyer without dependants, or $150,000 for a single buyer with dependants or two or more buyers combined), you must live in the home, and you still need to meet the lender's criteria. The separate First Home Grant closed in May 2024.

Usually, if you've been a member for at least three years and will live in the home. You can withdraw your contributions, your employer's and the government's, but must leave at least $1,000 in your account. The money is paid to your lawyer before settlement, so apply early. If you're buying with a partner, you can both withdraw.

It depends on your income, living costs, existing debts and deposit. Banks also check you could still afford repayments if interest rates rose. Paying off or closing credit cards and personal loans before you apply can make a noticeable difference, and we can work out a realistic figure with you before you start house hunting.

Usually photo ID, recent payslips, around three months of bank statements, your KiwiSaver balance, and details of any debts such as credit cards, car loans or buy now pay later. If you're self-employed, lenders will also ask for your recent financial statements and tax returns. We'll give you a checklist so nothing's missed.

Budget for legal fees, a building inspection, a LIM report, a registered valuation if the lender needs one, and house insurance, which lenders require before settlement. There's no stamp duty in New Zealand. Also allow for moving costs and a buffer for anything that needs fixing once you move in.