_**Please Note:** This video was originally published on 7th June 2022. While the information presented here may still be valuable, some aspects may be outdated._

<br>

Before buying your first home you'll need to save for a deposit. This Tella video guide covers what you need to know before you start saving. What can you afford to spend on a home and how much the bank will lend? It covers using KiwiSaver, Kainga Ora, and loans or gifts from parents. For the first home, we always want to make our deposit go far so it's important we cover off low deposit (low equity) loans and what this means in terms of cost. Take 5 minutes to get yourself up to speed before using some of the great calculators and guides on the Tella website.

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Saving for a home loan deposit

If you or your children face challenges securing a first home, you're not alone. High prices and slow savings can make owning a home seem like an elusive goal, especially for those going it alone. But having a supportive parent or family member can make this dream a reality.

This newsletter is your resource for understanding ways to achieve home ownership together. From family loans to gifts and guarantor roles, we're here to guide you. Our goal is to equip you to confidently extend a helping hand, guiding loved ones on their exciting path to owning a home.

And here's encouraging news: Over half of first-time homebuyers today receive family financial support. Yes, the Bank of Mum and Dad often steps in to make this happen. This support takes various forms, like loans, gifts, or being a guarantor.

Remember, it's not just parents – close family members can help too. Let's explore these possibilities and what you need to know.

Family Loans: Defining the Terms

Imagine a scenario where parents or family members lend money to a loved one to go towards their first home. It's a loan, and like any loan, there's an understanding it'll be repaid at some point. But before you dive in, it's important to have an open conversation and set clear terms. Questions to ponder include:
Is there any interest on the loan, or is it interest-free?
When is the loan due for repayment? Is it when the property is sold?
Will the family members lending the money have a say in the type of property bought, or is it a hands-off arrangement?
Once you're on the same page, it's recommended for those providing the loan to consult their lawyer and draft a Deed of Acknowledgment.  This document outlines the loan's terms, including repayment specifics.

Gifts: Support with No Strings Attached

Similar to a family loan, a gift involves a sum of money provided by family members, with no catches: it doesn't need to be paid back, and no interest is applied or payments made. 

When applying for a home loan, a gifting certificate is required. This certificate states the gift amount, the giver, and importantly, that it's non-interest bearing and there won't be an encumbrance on the title.  An encumbrance is a note on the property title showing who is owed money - the most common of which is a bank's mortgage.

However, be aware that under certain circumstances, the courts might consider the gifted money as "relationship property," especially in case of a relationship separation.  To navigate this, we recommend you seek legal advice. 

Guarantor Support: Sharing the Risk

Another approach is having parents or family members act as guarantors.

In this setup, they use their own assets – often their house – as security for the first home buyers home loan. This enables them to enter the property market without needing significant cash upfront in the form of a loan or gift. Typically, the guarantee covers the amount needed to get to the crucial 20% deposit, so it's only a portion of their property's overall value that is used. This specific portion is set up as a separate loan to be repaid faster.

Remember that if the home owner struggles with repayments, the guarantor will likely become responsible for the loan. Because of this risk, the bank will also assess the guarantor to ensure they have sufficient income to meet the repayments if needed.

As always, it's important for both parties to seek separate independent legal advice before proceeding with a guarantor arrangement to fully understand the potential risks and long term implications, such as what happens if the parents/guarantors want to sell their home and there is still a loan in place. 


Whether it's a family loan, a gift, or a guarantor arrangement, clear communication, transparency, and legal guidance are key.

Should you be considering the Bank of Mum and Dad as a means of homeownership support, don't hesitate to reach out here. Our Tella mortgage experts are here to help you navigate this exciting journey.

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Bank of mum and dad

 _**Please Note:** This video was originally published on 7th July 2023. While the information presented here may still be valuable, some aspects may be outdated._


Winter is a great time to go house hunting because it rains all the time and it’s cold 🥶❄️🧊 

These are perfect conditions to check out a home. Rather than seeing your new home in spring or summer at it’s finest, if you fall in love with a home in winter, imagine how good it will be come summer BBQ time?

- It rains all the time during winter – is there water pooling around the house? That backyard that looks amazing and dry in summer, is it a bog you can’t walk on during winter?
- It’s cold – is the house cold when you walk in? Damp, smells? Is the heatpump on full to give a false sense of warmth?
- The exterior – is it looking a little green? Not you with the winter flu, but the cladding, after being damp. Or are the steps or back deck too slippery to walk on?
- The sun is at it’s lowest –  is the house almost permanently in the dark/shade with limited natural light?

Most houses look great in summer, winter is the time you get to see a property at it’s worst and it only gets better from there.

**There is less competition** 👨‍👩‍👧‍👦👪👩‍👧‍👦

When it rains, people don’t go to open homes. They naturally don’t want to get out of the car in the rain or take their wet shoes off inside the house. So, go to the open homes, have the house to yourself, you likely get 1:1 time with the agent to ask as many questions as you like. 

There is less competition from families with children at school. It’s the middle of the school year, for families with kids, buying a new home and relocating children into a new school, half way through the year is painful. So they often don’t look until the end of the year, to start fresh with a new school the following year.

For couples looking for a bigger, future family home, middle of the year is a good time.

In general, there is less competition compared to spring or summer when the majority of home loan pre-approvals are requested and everyone is out looking.

**Lastly - It’s easier to get hold of people** 🤝

Rather than summer when everyone is already is ‘summer holiday mode’ and fully booked out. If you need a building inspector, valuer, moving company...they are generally not as busy. At Christmas time we see 10 day waits for registered valuers (required for first home buyers with less than 20% deposit), everything takes longer.

**The downside**…👎

Vendors often don’t like to sell during winter, they want their house to look the best to get the highest price (wouldn’t we all?) and not show any of the above, so listings over winter don’t trend as high as spring or early summer time. But then again, you never know, you might just get lucky and find THE house for you.

So what are you waiting for?  Looking for a pre approval to winter house hunting? [Book a free call](https://calendly.com/tella-advisors/home-loan-expert-chat?) with a Tella mortgage expert now.

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Winter is a great time to go house hunting

Today I'm talking to Max Oliviero, founder of Umanest. Max comes from the world of residential property management and was inspired to build Umanest by seeing his team deal with the emotions of clients and tenants on a daily basis. Having visibility about what clients and tenants are feeling drove him to develop a software solution for recording and measuring issues and tensions between parties.

Check out Umanest here: https://www.umanest.com

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Subject to finance | Max Oliviera - Umanest

With New Zealand's general election on 7 November 2026, you might be wondering whether to buy your first home now or wait to see what happens.

Election policies could affect your homebuying options, but proposed changes aren’t guaranteed to happen. It’s worth understanding what’s on the table to understand your options now.

Here's what to consider before deciding whether to move ahead with your first-home plans.

## Could the NZ election change your first-home buying options?
One proposal worth watching is [National's plan to expand the First Home Loan scheme.](https://www.national.org.nz/news/260906-backs-first-home-buyers)

If re-elected, National has proposed raising the scheme's income cap to $300,000. This could allow more eligible buyers to apply for a home loan with a deposit as low as 5%.

Under the currently published criteria, the income cap is $95,000 for a single buyer without dependants and $150,000 for a single buyer with dependants or multiple buyers combined.

Under the [current First Home Loan eligibility criteria](https://www.kaingaora.govt.nz/en_NZ/home-ownership/first-home-loan/), the income cap is $95,000 for a single buyer without dependants and $150,000 for a single buyer with dependants or multiple buyers combined.

<table style="width: 100%; border-collapse: separate; border-spacing: 4px; font-family: sans-serif; background-color: #fdf2f5; color: #000033;">
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    <tr>
      <th style="background-color: #000099; color: #ffffff; padding: 15px; border-radius: 4px; text-align: left; font-weight: bold;">Current income caps criteria</th>
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        $95,000 or less for a single buyer without dependants
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        $300,000 to all applicants
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        $150,000 or less for a single buyer with dependants or multiple buyers combined
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  </tbody>
</table>

## Should you buy your first home before or after the election?
Rather than focusing solely on the election, look at your financial situation and the options currently available to you.

The right timing depends on your budget, your readiness to buy and whether upcoming policy changes could affect your eligibility.  

**Buying now may make sense if:**
- You've saved enough for your deposit and explored your borrowing options.
- You've found a home you can comfortably afford which fits your needs and budget.

**Waiting may make sense if:**
- You need more time to build your deposit or get your finances in order.
- A proposed policy change could affect your eligibility for a home loan.


## What can you do now while waiting for the NZ election?
You can prepare for your first home without committing to a purchase straight away.

**•	Check your deposit options.** A 20% deposit isn't the only possible route into homeownership. Eligible buyers may be able to apply for a First Home Loan with a 5% deposit, subject to the scheme's criteria and lender approval.

**•	Review your KiwiSaver.** If you've been a KiwiSaver member for [at least three years](https://www.ird.govt.nz/kiwisaver/kiwisaver-individuals/getting-my-kiwisaver-funds-early/getting-my-kiwisaver-for-my-first-home), you may be eligible to withdraw savings for your first home. Check the requirements with your provider.


<div style="border: 1px solid #ddd; padding: 30px; background-color: #10059f; font-family: Arial, sans-serif; margin-bottom: 40px; color: #ffffff; border-radius: 8px;">
  <h3 style="margin-top: 0; color: #ffffff; font-size: 22px;">Wondering how much your KiwiSaver could help with your first home?
 
</h3>
  
  <p style="color: #ffffff; margin-top: 0; margin-bottom: 15px; line-height: 1.5;">
We can help you understand your current position and work out what you need to get into your first home.  
  </p>

  
  <a href="https://calendly.com/tella-adviser" 
     style="background-color: #ffffff; color: #10059f; padding: 14px 28px; border-radius: 50px; font-weight: bold; text-decoration: none; display: inline-block; font-size: 16px;">
    Book a quick chat with a Tella financial adviser
  </a>
</div>

**•	Work out what you can afford.** Factor in mortgage repayments, rates, insurance, maintenance and other regular expenses.

**•	Understand your borrowing options.** A mortgage adviser can help you explore suitable home loan options and understand what you may be able to borrow.

**•	Keep your options open.** Understand what you can do under the current rules while keeping an eye on possible changes.

You don't need to predict the election outcome to prepare for your first home. 

Just remember, waiting doesn't guarantee lower house prices, cheaper mortgage rates or better lending options.

<hr style="border: none; border-top: 2px solid black; height: 1px; width: 100%; display: block !important; visibility: visible !important; margin-top: 40px;">

<p style="font-style: italic; font-size: 0.85em; color: #555;">
  This article is for informational purposes only. It does not consider your personal financial situation or objectives. Please consult with Tella mortgage and financial experts before making any decisions regarding your mortgage or debt strategy.
</p>

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Should You Wait Until After the NZ Election to Buy Your First Home?

With the NZ election approaching, property investors may be wondering 

Should I buy an [investment property](https://tella.co.nz/home-loans-mortgages/property-investment) before the NZ election or wait until the results are in to rethink my plans?

Potential policy changes could affect your property investment, but it’s still uncertain which proposals will be introduced and what they’ll look like in practice.

Here are three questions to help you prepare for your next move.

## 1. Which election policies could affect my investment property?
The impact will depend on which proposals progress and how they’re implemented.

Rather than trying to predict every possible outcome, focus on the policies most relevant to your situation.

For a closer look, read our guide [NZ Election 2026: What 3 Major Property Tax Policies Could Cost You.](https://tella.co.nz/blog/nz-election-2026-what-3-major-property-policies-could-cost-you)

## 2. Are my investment property finances in good shape?
You don’t need to wait for election results to review your finances. 

Whether you already own an investment property or are considering buying your first one, understanding the numbers can help you make a more informed decision.

Start with these areas:

**•	Rental income and expenses:** How much income could the property bring in, and what will it cost to own and maintain?

**•	Cash flow and savings:** Could you manage repayments and other expenses if the property were vacant or an unexpected repair came up?

**•	Borrowing options:** If you’re planning to buy another property, how could your existing lending affect your options?

These checks won’t predict what the market will do, but they can help you understand what you can afford and where you may need more flexibility.


<div style="border: 1px solid #ddd; padding: 30px; background-color: #10059f; font-family: Arial, sans-serif; margin-bottom: 40px; color: #ffffff; border-radius: 8px;">
  <h3 style="margin-top: 0; color: #ffffff; font-size: 22px;">Wondering whether you’re financially ready to invest in property? 
</h3>
  
  <p style="color: #ffffff; margin-top: 0; margin-bottom: 15px; line-height: 1.5;">
    We can help you review your home loan options and understand what buying an investment property could look like for you.
  </p>

  
  <a href="https://calendly.com/tella-adviser" 
     style="background-color: #ffffff; color: #10059f; padding: 14px 28px; border-radius: 50px; font-weight: bold; text-decoration: none; display: inline-block; font-size: 16px;">
    Book a quick chat with a Tella mortgage adviser
  </a>
</div>


## 3. Should I wait until after the election to invest?
Waiting may give you more time to understand potential policy changes, but it won’t necessarily make a property a better investment.

Before putting your plans on hold, consider whether:

- the property makes financial sense based on your current estimates
- how potential policy changes could affect your returns, and 
- whether you’re prepared to manage unexpected costs

You don’t need to rush into a purchase, but you don’t have to put every decision on hold either. 

Keep track of confirmed policy developments and reassess your plans as more information becomes available.

<hr style="border: none; border-top: 2px solid black; height: 1px; width: 100%; display: block !important; visibility: visible !important; margin-top: 40px;">

<p style="font-style: italic; font-size: 0.85em; color: #555;">
  This article is for informational purposes only. It does not consider your personal financial situation or objectives. Please consult with Tella mortgage and financial experts before making any decisions regarding your mortgage or debt strategy.
</p>

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NZ Election 2026: 3 Questions to Help Property Investors Prepare

[_Source: NZ Adviser_](https://www.mpamag.com/nz/specialty/residential/nz-new-mortgage-lending-falls-49-as-investor-borrowing-drops/591554)

New lending to New Zealand property investors **fell 11% year-on-year in August, dropping to $1.40 billion,** according to the [RBNZ's latest lending data](https://www.rbnz.govt.nz/statistics/series/lending-and-monetary/new-residential-mortgage-lending-by-borrower-type).

But does that mean investors are stepping away from the property market?

Not necessarily. 

The latest buyer data points to a more cautious and selective market, with several pressures making investors think harder about taking on new debt.

## Investors Are Waiting for a Bargain
[Investor demand remains weak.](https://www.mpamag.com/nz/specialty/residential/first-home-buyer-activity-jumps-as-investors-stay-sidelined-nzhl/592422) A net **46% of agents reported fewer investors looking to buy,** with little change since April.

For investors who are still looking, finding a bargain remains one of the main reasons to buy. 

But with property values continuing to soften, there is less expectation of quick price gains, with values now having fallen for a [**sixth month in a row.**](https://www.cotality.com/nz/insights/articles/nz-property-values-fall-for-sixth-straight-month-as-buyers-retain-upper-hand)
 
## Election Uncertainty
The upcoming election adds another layer of uncertainty for property investors, with the possibility of changes to existing tax rules.

Capital gains tax, wealth taxes and other proposed changes to the tax policy could affect the costs and returns associated with owning an investment property.

That makes it harder for investors to assess what a new purchase could look like over the longer term, particularly when property values and rental returns are already under pressure.

<div class="badge-action-box">
  <b><i>Want to know how these proposed policies could cost you?</i></b>
  <p class="action-content">
    Read our <a href="https://tella.co.nz/blog/nz-election-2026-what-3-major-property-policies-could-cost-you" style="color: #10059f; text-decoration: underline; font-weight: 600;">breakdown of three major property policies</a> to understand what they could mean for you ahead of the NZ election.
  </p>
</div>

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## Rental income and holding property costs
Recent analysis from [Interest.co.nz](https://www.interest.co.nz/investing/140379/joseph-darby-says-rising-costs-have-widened-gap-between-what-tenant-pays-and-what?utm_source=chatgpt.com.) highlights the gap between rental income and the wider costs of providing a rental property. 

**Rising mortgage interest, rates, insurance and maintenance costs** can all reduce the amount investors are left with from their rental income.

This can put pressure on cash flow, particularly when rental income doesn't cover all the costs of holding the property. That could be one reason some investors are being more cautious about new borrowing.


<div style="border: 1px solid #ddd; padding: 30px; background-color: #10059f; font-family: Arial, sans-serif; margin-bottom: 40px; color: #ffffff; border-radius: 8px;">
  <h3 style="margin-top: 0; color: #ffffff; font-size: 22px;">Not sure what the current market means for your property investment portfolio? 
</h3>
  
  <p style="color: #ffffff; margin-top: 0; margin-bottom: 15px; line-height: 1.5;">
    Whether you're reviewing your rental income, considering another property or weighing up your next move, a Tella adviser can help you work through the numbers and understand your options. 
  </p>

  
  <a href="https://calendly.com/tella-adviser" 
     style="background-color: #ffffff; color: #10059f; padding: 14px 28px; border-radius: 50px; font-weight: bold; text-decoration: none; display: inline-block; font-size: 16px;">
    Book a no-cost chat with a Tella adviser
  </a>
</div>

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<p style="font-style: italic; font-size: 0.85em; color: #555;">
  This article is for informational purposes only. It does not consider your personal financial situation or objectives. Please consult with Tella mortgage and financial experts before making any decisions regarding your mortgage or debt strategy.
</p>

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NZ Property Investor Lending Falls 11%: What’s Behind the Pullback?

[_Source: NZ Adviser_](https://www.mpamag.com/nz/specialty/residential/election-barely-dents-nz-property-market-trade-me-finds/590615)

With New Zealand’s election approaching, it’s easy to wonder whether the property market might slow down until the result is known.

Some homebuyers and sellers may choose to wait. But recent data suggests the election isn’t having a major impact on the NZ property market overall.

## Most homebuyers and sellers aren’t waiting on the election

[Trade Me Property surveyed](https://www.mpamag.com/nz/specialty/residential/election-barely-dents-nz-property-market-trade-me-finds/590615) more than 2,000 active buyers and homeowners to find out how much the upcoming election is influencing their property decisions.

The result? **22% of homebuyers and 20% of sellers** said the election was a primary influence.

Only 6% said they were strongly affected, with property investors making up most of this group.

For most people, the bigger considerations are much closer to home—things like mortgage rates, affordability, location and finding the right property.

And sellers are still planning to come to market. Trade Me found that **25% of prospective vendors planned to list in October,** while another 13% intended to list before the end of September.

## Elections don’t necessarily mean falling house prices

Looking at previous NZ elections gives us some useful context.

[Bayleys](https://hawkesbay.bayleys.co.nz/news/polling-the-property-market?utm_source=chatgpt.com) analysed property activity around several election cycles and found **no consistent relationship between elections and house prices.**

There have been elections where sales activity softened, particularly when housing policy was a major political issue.

But that doesn’t necessarily mean the election itself caused prices to change.

Interest rates, access to lending, employment and the wider economy can all be moving at the same time—sometimes with a much bigger effect on the property market.

## The NZ property market is bigger than the election

National property figures can make the market look simpler than it really is.

[Trade Me’s August data](https://www.trademe.co.nz/c/property/news/property-pulse-report?srsltid=AU7gw4U1hMZDMx5DdL249IjEl9PZA_YzoxR8IF_QNEFo-Iix4MLh4Icd) put the national average asking price at **$828,250, up 0.4% from a year earlier.**

But regional markets are telling very different stories. 

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      <th style="padding: 6px 12px; border-right: 1px solid #000000; text-align: left; font-weight: bold; width: 50%;">Region</th>
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      <td style="padding: 4px 12px;">-5.9%</td>
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      <td style="padding: 4px 12px;">-8.1%</td>
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The national figure only tells part of the story. Where you’re buying or selling can make a much bigger difference to what’s happening in your local market.

## So, should you wait until after the election?
 
The current evidence suggests the election is influencing some property decisions, but it isn’t causing most buyers and sellers to pause their plans.

And history doesn’t show a reliable pattern of house prices suddenly changing because an election has taken place.

For homebuyers and sellers, the more useful questions are likely to be:
<ul>
  <li><strong>Does the borrowing work for you?</strong></li>
  <li><strong>What is happening with mortgage rates?</strong></li>
  <li><strong>What are properties selling for in your area?</strong></li>
  <li><strong>Does the timing fit your plans?</strong></li>
</ul>

The election may be part of the bigger picture, but it’s only one piece of it.

When it comes to a property decision, **understanding your own numbers and circumstances** may tell you more than waiting for election day.


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  <h3 style="margin-top: 0; color: #ffffff; font-size: 22px;">Thinking about buying or selling before the election? 
</h3>
  
  <p style="color: #ffffff; margin-top: 0; margin-bottom: 15px; line-height: 1.5;">
    Rather than trying to time the market, let’s look at what the current numbers mean for you.
  </p>

  
  <a href="https://calendly.com/tella-adviser" 
     style="background-color: #ffffff; color: #10059f; padding: 14px 28px; border-radius: 50px; font-weight: bold; text-decoration: none; display: inline-block; font-size: 16px;">
    Book a quick chat with a Tella adviser
  </a>
</div>

<hr style="border: none; border-top: 2px solid black; height: 1px; width: 100%; display: block !important; visibility: visible !important; margin-top: 40px;">

<p style="font-style: italic; font-size: 0.85em; color: #555;">
  This article is for informational purposes only. It does not consider your personal financial situation or objectives. Please consult with Tella mortgage and financial experts before making any decisions regarding your mortgage or debt strategy.
</p>

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Does the Election Really Affect the NZ Property Market?.png

Does the Election Really Affect the NZ Property Market?

Going unconditional on your next home is a big milestone. 

Your conditions are met. The agreement is now binding, and you’re committed to the purchase.

But when one home needs to be sold to make way for the next, getting the timing right can be just as important as getting the finance right.

So before you lock in, make sure these 3 things stack up.

## 1. Check the timing of your settlement dates
Your purchase and sale each have their own settlement date. They don’t necessarily have to be on the same day. 

<div class="badge-action-box">
  <div class="action-badge">✅ What to do:</div>
  <p class="action-content">
    Check both <a href="https://tella.co.nz/home-loans-mortgages/moving-home-switching-bank/sale-and-purchase-conditions" style="color: #10059f; text-decoration: underline; font-weight: 600;">Sale and Purchase Agreements</a> early. If the dates don’t work for you, flag this with your lawyer or conveyancer to see whether they can be negotiated.
  </p>
</div>

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## 2. Check which one settles first
Once you know the dates, look at the order they happen in.

If your new home settles first, you’ll need to fund the purchase before your sale proceeds come through. If your sale settles first, you may need somewhere to stay until your new home is ready.

<div class="badge-action-box">
  <div class="action-badge">✅ What to do:</div>
  <p class="action-content">
    Make sure you’re comfortable with the order of your settlements before you commit.
  </p>
</div>

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## 3. Make sure your finance matches the timing
Knowing your settlement dates is one thing. Knowing how you’ll fund them is another.

If you’ve arranged [bridging finance](https://tella.co.nz/home-loans-mortgages/moving-home-switching-bank/home-bridging-finance) or another lending solution, you’ll want to make sure it’s set up for the right amount and timing.

<div class="badge-action-box">
  <div class="action-badge">✅ What to do:</div>
  <p class="action-content">
    Talk to your mortgage adviser before going unconditional to make sure your lending is set up around your settlement dates.
  </p>
</div>

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<div style="border: 1px solid #ddd; padding: 30px; background-color: #10059f; font-family: Arial, sans-serif; margin-bottom: 40px; color: #ffffff; border-radius: 8px;">
  <h3 style="margin-top: 0; color: #ffffff; font-size: 22px;">Want to make sure the timing works for your settlement? 
</h3>
  
  <p style="color: #ffffff; margin-top: 0; margin-bottom: 15px; line-height: 1.5;">
    We can help you work through your settlement dates, funding and lending options before you go unconditional.   
  </p>

  
  <a href="https://calendly.com/tella-adviser" 
     style="background-color: #ffffff; color: #10059f; padding: 14px 28px; border-radius: 50px; font-weight: bold; text-decoration: none; display: inline-block; font-size: 16px;">
    Book a hassle-free chat with a Tella adviser
  </a>
</div>

<hr style="border: none; border-top: 2px solid black; height: 1px; width: 100%; display: block !important; visibility: visible !important; margin-top: 40px;">

<p style="font-style: italic; font-size: 0.85em; color: #555;">
  This article is for informational purposes only. It does not consider your personal financial situation or objectives. Please consult with Tella mortgage and financial experts before making any decisions regarding your mortgage or debt strategy.
</p>

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thumbnail_25. Linkedin - Everyone's Watching the NZ Election..png

3 Ways to Get Your Settlement Dates Right Before Going Unconditional..png

3 Ways to Get Your Settlement Dates Right Before Going Unconditional3 Ways to Get Your Settlement Dates Right Before Going Unconditional..png

3 Ways to Get Your Settlement Dates Right Before Going Unconditional