your first home

making it a reality

There’s no better feeling than getting the keys to your very first home - being able to stamp your own mark and fulfil your dreams for the future. SBS Bank can help turn your dreams into a reality by helping you take the first step on the path of your home ownership journey.


Welcome Home Loan

SBS Bank is a Welcome Home Loan lender. The Welcome Home Loan, supported by Housing New Zealand Corporation is an initiative to make access to home ownership even easier for everyday New Zealanders.

» You can borrow up to 90% of property value – that means a deposit of only 10%.
» With SBS Bank you pay no application fee.
» The maximum value of a home varies by region ($400,000 - $600,000 for existing properties, $450,000 - $650,000 for new properties) - effective Monday 1 August 2016.
» To be eligible you must have an individual income of less than $85,000 or a combined income of less than $130,000 - effective Monday 1 August 2016.
» You must live in the home.

For more information please visit the Housing New Zealand website by clicking here.

Welcome Home Loan

KiwiSaver first home withdrawal

You may be eligible to withdraw all your KiwiSaver savings (except for the $1,000 government kick-start). 


KiwiSaver Home Start grant


buying an existing house:

» You could get up to $1,000 for each year you have contributed to KiwiSaver 
» Maximum of $5,000 for an individual borrower ($10,000 for two borrowers) 

buying a new house:

» You could get up to $2,000 for each year you have contributed to KiwiSaver 
» Maximum of $10,000 for an individual borrower ($20,000 for two borrowers)


Further information on the KiwiSaver Home Start Grant and the First Home withdrawal can be found at kiwisaver.govt.nz 


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important information

The information on this page does not take into account your individual circumstances and is not personalised financial advice. You should seek financial advice before you make any decision to open an account. Specific credit and eligibility criteria along with Standard Contract Terms for Welcome Home Loans apply. 1% HNZC premium and a $400 Application fee apply. Welcome Home Loans are supported by Housing New Zealand, for owner-occupied homes only and borrowers must not own any other property. Additional Credit Fees and Charges may apply. 

 

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important information

This calculator is a useful tool to provide you with information about how much you could borrow, based on the accuracy of the information entered. This calculator does not constitute an offer of finance. While any assumptions used in this calculation are reasonable, they are subject to limitations. The calculations do not take into account any future changes (such as changes to taxation or interest rates, or changes in your personal financial circumstances), do not constitute a personalised financial adviser service under the Financial Advisers Act 2008 and are not intended to be relied on for making a decision in relation to a financial product. We recommend that you consider obtaining advice from a financial adviser before making any financial decisions. Please contact SBS Bank on 0800 727 2265 for more information.

*Rates are subject to change without notice. These rates can be booked with a $250 Booked Fixed Rate fee, terms and conditions may apply. These rates are only available for Residential and Residential Investing lending with a minimum of 20% equity (or greater when Residential Investing lending restrictions apply), Welcome Home Loan, or lending where QBE lenders mortgage insurance applies. Available to members with any level of existing lending with SBS Bank or requires new lending of at least $100,000. Not available with commercial or rural loans, or SBS Advance (Reverse Equity Mortgage) loans. Requires primary source of income paid into a SBS Bank transactional account. Welcome Home Loans are supported by Housing New Zealand, are for owner occupied homes only and owners must not own any other property. Specific lending and eligibility credit criteria and Standard Contract Terms for term Welcome Home Loans, Residential and Residential Investing Loans apply. 1% HNZC premium applies. Additional Credit Fees and Charges may also apply. Copies of our Standard Contract Terms for term Welcome Home Loans, Residential and Residential Investing Loans and Credit Fees and Charges are available on request and free of change from any branch of SBS Bank or at sbsbank.co.nz.

SBS Bank
 
A copy of the current Southland Building Society (SBS Bank) Disclosure Statement along with our Term Investment Terms & Conditions and QFE Adviser Disclosure Statement are available on request and free of charge from any branch or agency of SBS Bank or on this website
© Southland Building Society, 2016