Get at least $5,000 cash back on your first home

Apply for a new BNZ home loan of $250,000 or more on your first home and you could get a minimum of $5,000 cash back, even with a deposit as low as 5%.

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How the cash back offer works

When you apply for a BNZ home loan for your first home you could get a minimum of $5,000 cash back as part of our first home buyers’ package.

  • All applicants must be first home buyers as determined by BNZ.
  • Available on new approved BNZ home loans of $250,000 or more.
  • This offer applies even with a deposit as low as 5%.
  • This limited offer may be withdrawn at any time without notice.
  • All home loans are subject to lending criteria (including minimum equity requirements) terms, and fees.

Refer to the offer terms and conditions

Talk to an expert about applying

What to bring to your appointment

You’ll need to provide us with details and proof of your finances to help us decide if you’re eligible for a home loan. Find out what documents to bring

A guide for first home buyers

If you’re confused about the ins and outs of buying a house, you’re not alone. We’ve put together a guide to help explain each stage of the home-buying process, from applying for a home loan to settlement.

All home loans are subject to lending criteria (including minimum equity requirements) terms, and fees. Interest rates are subject to change. An establishment fee of up to $150 may apply. Not for business purposes.

Read our full home loans terms and conditions

First home buyer cash back offer terms and conditions

  • The applicable cash back rate will be specified in your loan agreement.
  • For new home loans that are approved from 8 October 2024 with a minimum lending of $250,000.
  • The home loan cannot be used for business purposes.
  • This offer may be withdrawn at any time without notice. 
  • All applicants must be a first home buyer, which BNZ defines as:
    • it’s your first property owned in New Zealand (owner occupied or investor)
    • your income has not been included in debt servicing for any lending over a residential security e.g. as a trustee or shareholder.
  • First home buyer applicants co-borrowing with a parent(s) where the parent(s) assisted lending portion is more than 25% of the total loan amount, are not eligible for this cash back offer.
  • If there is a guarantor, it is not necessary for that guarantor to be a first home buyer.
  • If you refinance or repay your loan within three years of receiving the cash back (including mortgagee sale), you must repay the proportion of the cash back as follows:
Time Payment is received % of cash back repayable
Less than 1 year 100%
1 year - less than 2 years 66%
2 years - less than 3 years 33%
3+ years 0%

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