First Home Buyer Special Rate*
4.89%p.a.
1 YEAR FIXED
First Home Buyer Special Rate*
5.19%p.a.
18 MONTHS FIXED
First Home Buyer Special Rate*
5.35%p.a.
2 YEAR FIXED
Everything you need to know as a first home buyer
Our First Home Buyers Hub is designed to give you a complete picture of the first home buyers journey. If you’re ready to talk about mortgage pre-approval, we are here to make it easy as possible for you.
If you’re not sure what certain home loan terms mean, need help working out how much to save or have no idea how to get a mortgage, we are here to help.
You can call our Contact Centre on 0800 554 554 and speak to a Home Lending Specialist, schedule an in-person or phone appointment with your closest branch, or work directly with one of our Mobile Mortgage Managers.
We also work closely with mortgage brokers throughout the country. If you are already working with a broker, you can ask them to include The Co‑operative Bank as a potential lender.
Thinking about buying your first home?
Now’s a good time to assess your long-term goals and see if buying is the right choice for you. Find out what to consider when planning to buy a home.
More on planning to buyGetting a deposit together
The next step is figuring out how much you can afford to borrow, gathering your deposit, and dealing with existing debt. See our tips for saving and learn more about using KiwiSaver to buy your first home.
More on gathering your depositGetting mortgage pre-approval
Before you start looking at open homes, it’s handy to get a mortgage pre-approval sorted. Learn more about the pre-approval process and get tips on assembling your buying support team.
Learn more about pre-approvalFinding your home
You’ve saved up and now it’s time for the house hunt! We explain how to decide what you want in a home, give you tips on where to look, and provide expert advice for nailing the open home.
More on house huntingDoing your due diligence
Found a property you’re serious about? Before making an offer, you need to do your homework. Check out our tips for doing your due diligence including getting a builder’s report and LIM report.
More on due diligenceMaking an offer
The process of making an offer can be confusing. Learn more about sale and purchase agreements, conditional and unconditional offers, and the different ways to buy in NZ.
More on making an offerFinalising the details
Before settling on your home, there are some final details to sort out. Learn more about the pre-settlement inspection, paying your deposit, and getting your new home insured.
More on finalising the detailsSettling on your home
Wondering what actually happens on settlement day? We explain all the details, plus give you some tips for a smooth move while taking charge of your loan.
More on settlement day
Better just got bettaaah
You can now bank even BETTAAAH with our competitive first home buyer offer! Plus, when you take out a first home loan with us, you’ll also have an award-winning team by your side and become an owner of the bank. Now that’s better! Terms & conditions, exclusions, and lending criteria apply. Offer available for new lending from $250,000**.
Apply nowFirst Home Buyer tips & checklists
Questions to ask your real estate agent
See our checklist of the key questions to ask the real estate agent at open homes.
Questions to ask the real estate agent
House hunting
House hunting can be a maze, so we've put together ten house hunting tips to get you started.
House hunting tips
All about auctions
See our top auction tips for first home buyers in NZ.
Auction tips
Kāinga Ora First Home Loan
Did you know we are a Kāinga Ora First Home Loan lending partner?
Kāinga Ora's First Home Loan is designed to make it easier for you to get into your first home by lowering the required deposit to 5%.
If you’ve saved a small deposit and it’s over 5% of the price of the property you’re wanting to purchase, talk to us about First Home Loan.
Ready to apply?
You can complete your application online. It'll take about 10-20 minutes to apply. If you need to, you can save as you go and come back later.
Apply onlineSpeak to a specialist
Our Home Loan Specialists are experts in home lending and can assist you in selecting the ideal structure and term to best suit your needs. Call us on 0800 554 554.
*First Home Buyer special rate terms and conditions
Offer available for new lending from $250,000. Lending must be used by the applicant(s) to purchase an Owner Occupied first home (as determined by The Co-operative Bank).
Minimum of 20% deposit, or with Kāinga Ora First Home Loans a minimum of 5% deposit. For Kāinga Ora First Home Loans, a Lenders Mortgage Insurance premium is payable which is 1.2% of the loan balance. This can be added to the loan balance. Bridging finance and Fresh Start home loans are excluded from the offer. The Co-operative Bank and Kāinga Ora’s lending criteria, fees, interest rates, terms and conditions apply and are subject to change.
**First Home Buyer cash back offer terms and conditions
The cash back offer is 1% up to $15,000 on qualifying first home buying lending. Qualifying home loans are new owner-occupied home loans over $250,000 with a minimum of 20% deposit, or with Kāinga Ora First Home Loans a minimum of 5% deposit. Lending must be used by the applicant(s) to purchase an owner occupied first home (as determined by The Co-operative Bank).
The cash back is conditional on the lending being drawn down and staying with The Co-operative Bank for at least 36 months from the date the cash back is paid to your Co-operative Bank account (cash back period) or must be repaid on a pro-rata, monthly basis. This means that you would have to repay the portion of the cash back which relates to the remaining months of the cash back period. For example, if you refinanced your home loan with another bank after 12 months, there would still be 24 months left in the cash back period and you would be required to repay 2/3 of the cash back you received.
We may also require repayment of the cash back where you substantially repay the home loan within 12 months (except where we expressly agree otherwise)
Cash backs are paid to the borrower’s Co-operative Bank account within 5 working days of the home loan being fully drawn down (including any revolving credit facilities being utilised).
Bridging finance and Fresh Start home loans are excluded from the offer. The Co-operative Bank reserves the right to amend or withdraw the offer at any time without notice. Lending criteria, fees, exclusions, and other conditions apply.
Disclaimer
This material is provided for information purposes only and is not financial advice or a substitute for financial advice.
If you think you might need financial advice, you can talk to one of our team at The Co-operative Bank, by calling 0800 554 554.
View our financial advice provider disclosure statement to see the type of financial advice we can provide.