First-home buyers warned of costs when buying with less than 20% deposit – The Prosperity Project

Nadine HigginsThe Prosperity Project host·NZ Herald·19 Jul, 2026 05:00 PM3 mins to read‌Mortgage adviser Michelle Isemonger joins Nadine Higgins on The Posperity Project to explain how to prepare before applying for finance, what banks are looking for & whether you really need a 20% deposit.More than half of New Zealand’s first-home buyers are now getting on to the property ladder with less than a 20% deposit – but many don’t realise the costs of doing so. First-home buyers are currently the largest group of property purchasers in New Zealand, helped by lower house prices