The Reserve Banks restrictions on low value-to-ratio mortgages last year put a dent in the plans of some would be home owners if they didn't have at least 20 percent deposit.

But there are still options if you are struggling to save that much of a deposit.

Although there are restrictions, the banks can still lend to people with a deposit less than 20 percent. They are limited to how many of these loans they can provide, but you could be one of those that is able to do so.

Residential mortgages that fund construction of new homes are exempt from the lending rules so you could get a first home built for you.

The Welcome Home Loan supported by Housing New Zealand is for first home buyers who can afford the repayments but are struggling saving for a larger deposit.

Source: NZ Herald

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