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How much deposit do I need?
We require a 20% deposit. In other words, we will lend you up to four times the amount of your deposit (as long as your minimum monthly repayments are not more than 35% of your combined household income after tax). For example, if you have a $200,000 ...
Will the property need to be valued?
Yes, all first home loans (including refinancing) will require a registered valuation addressed to Simplicity Investment Management Limited. We will arrange the valuation with our approved valuer and you will be responsible for paying them. The cost ...
Will there be the option of getting a second mortgage over the property?
No, if you have a home loan with us, you will not be able to get a second mortgage on the property. We don’t allow any other borrowed funds to be used towards the purchase of your first home and we don't accept third-party guarantors as added ...
How long is the mortgage for?
The mortgages are for 30 years, and minimum monthly payments include interest and principal. You can pay off your mortgage in full, make top-up payments or switch it to another mortgage provider at any time, without any penalties or break fees. Your ...
What is your eligibility criteria?
The Eligibility Criteria below, will apply to your Loan: As a first home buyer You will use the loan to purchase your first home. You must be a Simplicity KiwiSaver member. We will lend up to 80% of the value of the property you wish to purchase, ...