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Apartment Loans

Home Apartment Loans

Getting a home loan for an apartment can be complex and difficult, however with the help of a good mortgage broker, it can be easy to navigate this complicated task.

One of the key things we have noticed is that whilst apartments are cheaper than standalone houses in a lot of cases, the deposit required is potentially higher. While some apartments could be bought with a 10% deposit (subject to the criteria, and the criteria at the time), in many cases, people are generally asked for a 20% deposit.

You may also find that if the apartment you are interested in buying is very small in size, you might get asked to have an even larger deposit. It isn’t unheard of to be asked for a 50% deposit for a very small apartment.

Why is apartment lending more challenging?

There are several reasons for this, but the one we hear about most often is that banks and lenders generally do not feel it is as great as a security or ownership as a freestanding house. Accordingly they aren’t willing to lend as much, meaning a customer has to front up a higher deposit.

Are 10% apartment deposit home loans available?

Many people want to know how much of a deposit they need to buy an apartment. Historically, there have been some lenders willing to offer a 10% apartment deposit. Talk to a professional mortgage broker to find out what the current criteria are and how other factors, such as your income, the size of the apartment, and other matters, could play a role.


Just Financial is a professional financial adviser service and helps you with buying a home, using your KiwiSaver, insurance and more. Ask us to help you with your financial goals.

  • Home loans
  • Using your KiwiSaver
  • Saving money on your mortgage
  • Refinancing or debt consolidation
  • Low interest rates

  • Life insurance
  • Mortgage protection insurance
  • First home buyers
  • Help when the bank says no
  • Construction loans

Get Help From An Award Winning Financial Adviser

Want to buy a house? Looking for an amazing mortgage broker? Buying a house can be a challenging process. With the right advice, this can be made easy. Just Finance provides a professional mortgage broker service that can help you right throughout New Zealand. From first home buyers, to investors, as well as people who already have a house and want to refinance, there are many ways we help.



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