Home loans for your first property


Our Go Home Loan can help you take a confident first step into the property market. With your Adviser’s help and a home loan that’s working for you, it could be easier than you think.

​Talk to someone who understands

If you're thinking about buying your first property, we recommend you talk to an Adviser, who can help you understand your options and plan your goals. They’ll tell you how much you can borrow, arrange the paper work, and quickly get back to you so you can start looking for your first home.

How much of a deposit do you need?

You can still achieve the dream of owning your own home.  You may  be able to borrow up to 95% of the property’s value.  For example, a home of $400,000  would mean you would need to save a minimum of $20,000.  All home loans are subject to our home loan lending criteria. 

From 1 October 2013, the Reserve Bank introduced restrictions on the proportion of high loan-to-value ratio (LVR) home loans (i.e. loans with a deposit of less than 20%) that we can issue.

While we can still approve a certain percentage of low-deposit home loans, some customers who don’t have a deposit of 20% may need to borrow less or save for a larger deposit.  Note: construction loans are subject to different lending criteria from an existing dwelling.

Talk to your registered Adviser who can help you work through the options.

Other things to consider

As well as the deposit, you will also need to cover other costs associated with buying a home, including: valuation and solicitor's fees, insurance costs including mortgage protection, removal costs, and your share of any rates that have been paid by the vendor. It may be possible to add some of these costs to your home loan.

Disclaimer: The information contained on this site is of a general nature and is intended as a guide only, outlining some of the features and benefits provided by Sovereign's Go Home Loans. All home loans are subject to our home loan lending criteria. Early repayment adjustments may apply.  For loans with less than 20% equity a Low Equity Margin may apply. The lender is ASB Bank Limited via its nominee Mortgage Holding Trust Company Limited. The transactional account for Sovereign’s Go Home Loans is provided by ASB Bank Limited.

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The information contained on this website is general in nature and is not intended as advice. It may not be relevant to individual circumstances and before making any investment, insurance or financial planning decision; you should consult a professional adviser. Copies of our disclosure statements are available on request, free of charge.​