Gifted deposit for a first home in NZ: what lenders ask for
Yes, family can gift part of a first home deposit, and many lenders accept it with the right paperwork. Kāinga Ora says a First Home Loan deposit can be gifted by a relative, and other lenders set their own rules.
Can family give you a deposit for your first home?
Yes. A gift can be part of your deposit, including on a low-deposit loan, and each lender has its own paperwork. A gift isn't an approval, though, and the lender still checks your income, debts and the home.
What do lenders ask for?
MoneyBalance lists three things banks typically ask for:
- A statutory declaration, signed before a solicitor or Justice of the Peace, saying how much was given and that it is a gift, not a loan.
- 3 months of the giver's bank statements, or proof of the asset sale that paid for it.
- Your own bank statement showing the money arriving.
Some lenders accept a simpler letter for a modest gift from a parent, so check with yours. Lenders must check where deposit money comes from to stop fraud and money laundering, and the money needs to be in your account by settlement, not just promised. Your lawyer can check the paperwork, and the person giving often takes their own legal advice.
Gift, loan or guarantee: what is the difference?
A gift is money you don't repay. A loan from family is money you do repay, so it counts as a debt, and MoneyBalance warns that calling one a gift can be fraud. A guarantee is where a relative backs part of your loan, often with their own home as security, so the bank can go after it if you default. That is real exposure for them, so independent legal advice is usual.
Does a gift count as your own savings?
Not quite. MoneyBalance says a fully gifted deposit can get a little more scrutiny, and Unity says that for a First Home Loan most lenders expect some savings of your own, usually at least 5% of the price. See low equity premium for how deposit size changes lending costs.
A worked example
Say you have $70,000 saved and the home costs the $720,000 median. Here is what is left to find from a gift, KiwiSaver or both.
| Deposit | Amount | Still to find |
|---|---|---|
| 5% | $36,000 | $0 |
| 10% | $72,000 | $2,000 |
| 20% | $144,000 | $74,000 |
The average first-home KiwiSaver withdrawal was about $45,600 in the year to 30 June 2026, so a gift often works alongside KiwiSaver rather than alone.
Questions about gifted deposits
Can friends gift me a deposit?
Kāinga Ora's page says a First Home Loan deposit can be gifted by a relative. Other lenders set their own rules on who can give, and usually want to hear about a gift before the money moves.
Does a gift lower how much I can borrow?
A true gift is not a debt, but a family loan you must repay is. MoneyBalance says a repayable family loan must be disclosed, and it reduces borrowing capacity.
Can I use a gift and KiwiSaver together?
Yes, a gift, savings and a KiwiSaver withdrawal can sit in one deposit, and the lender checks each part.
Figures as at 5 October 2026. Sources: MoneyBalance, gifted deposits, Unity, First Home Loan deposit, calculate.co.nz, guarantor loans, Kāinga Ora, First Home Loan, IRD, KiwiSaver withdrawals.
Reviewed against MoneyBalance, Unity, calculate.co.nz, Kāinga Ora and IRD. General information only, not financial advice.