Home Loans
NBS First
Home Loan
Gets you on the property ladder sooner, without having to wait until you have saved a large deposit.
Pictured: Dean and Purdie Campbell | NBS Nelson clients
Gets you on the property ladder sooner, without having to wait until you
have saved a large deposit
Getting a deposit together can be the hardest part of buying your first home.
You may be able to do it with a 5% deposit through Kāinga Ora - Homes and Communities (formally Housing New Zealand).
NBS First Home Loan facts
- You can borrow up to 95% of property value.
- To be eligible you must have an individual income of less than $95,000 or a combined income of less that $150,000.
- This loan is only available for owner-occupied homes, and must be the only property you own.
- 1.2% Kāinga Ora (formery HNZC) mortgage insurance premium and loan application fees may apply.
If you're interested in a First Home Loan discuss your requirements with our lending specialists.
- Are you eligible? First Home Loan eligibility criteria as well as NBS' lending terms and conditions apply.
- How to apply. Have a look at the quick guide to find out how you apply for an NBS First Home Loan.
Further information from Kāinga Ora can be found below.
Rates and fees
| NBS Home Loan rates | |
|---|---|
| 6 months fixed | 5.09% p.a. |
| 1 year fixed | 4.59% p.a. |
| 2 year fixed | 4.59% p.a. |
| Variable* | 6.49% p.a. |
| NBS Flexi Loan variable interest rate | 6.99% p.a. |
|
Interest rates are current as of 3 December 2025 and subject to change at any time without notice. NBS lending criteria and specific terms and conditions apply. Margins, discounts and fees may apply. For new loans or refixes, rate may be subject to change prior to drawdown. NBS home loan rates are available for residential owner-occupied or investment property loans only. * Effective rate for new clients 3 December 2025. Effective rate for existing clients from 19 January 2026. |
|
| Kāinga Ora First Home Loan fees | |
|---|---|
| Loan establishment fee | From $450.00 |
| Lenders mortgage insurance premium | 1.20% p.a. of the loan amount |
| Interest rate review | $50.00 |
| Discharge mortgage fee | $50.00 |
| Default interest rate | 4.00% p.a. above interest rate |
| Default administration fee | $45.00 per event |
| Insurance arrears payment fee | $25.00 |
| Rates arrears payment fee | $25.00 |
| Motor vehicle security variation or security swap fee | $30.00 |
| Duplicate statement fee | $5.00 |
| Early repayment recovery amount (ERRA) | Price on application |
| Early repayment administration cost | $45.00 |
|
Fees are subject to change. |
|
| NBS Residential Term, NBS Residential Redraw and NBS Interest Only fees | |
|---|---|
| Loan establishment fee | From $450.00 |
| Loan additional funds | $250.00 |
| Interest rate review | $50.00 |
| Discharge mortgage fee | $50.00 |
| Default interest rate | 4.00% p.a. above annual interest rate |
| Default administration fee | $45.00 per event |
| Insurance arrears payment fee | $25.00 |
| Rates arrears payment fee | $25.00 |
| Motor vehicle security variation or security swap fee | $30.00 |
| Duplicate statement fee | $5.00 |
| Early repayment recovery amount (ERRA) | Price on application |
| Early repayment administration cost | $45.00 |
|
Fees are subject to change. |
|
Terms and Conditions
First Home Loan eligibility applies. NBS’ current Loan Agreement Specific Terms and General Lending Terms are available free of charge from any NBS branch.
NBS lending criteria and the above terms apply. You will also need to have an NBS loan deduction account.