Navigating the property market as a first-time buyer can feel like learning a new language. One term you'll need to master quickly? "Live deals."
Most major banks have implemented strict rules refusing pre-approval applications for buyers with less than 20% deposit, creating a challenging situation for many aspiring homeowners. The solution? Understanding how to create and leverage a live deal to get your mortgage application prioritised.
We break down exactly what constitutes a live deal: a Sales and Purchase Agreement that's been signed by both you and the property vendor. This seemingly simple document transforms your theoretical interest into a time-sensitive transaction that banks take seriously. Once the vendor signs your offer, the countdown begins - typically giving you 10-15 working days to secure financing if you've included the crucial "subject to finance" condition.
The value of working with a mortgage advisor early becomes clear as we explain how they can prepare your application to be "99% ready" before you even find a property. When you do find your potential home, they'll help navigate the offer process, highlight the urgency to banks, and potentially connect you with solicitors who'll review your first offers at no cost.
For first-home buyers feeling overwhelmed by the current market, we've got you covered. Join our free First Home Buyer webinar this Thursday evening to ask your specific questions and learn more about the practical steps to homeownership. Comment "webinar" to receive the registration link and take your next step toward owning your first home in New Zealand.

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