Of course having your employer providing you housing is great, but it has also meant that you have missed out on the ability to withdraw your KiwiSaver to buy a first home. But that is all changing. You might have seen the good news with changes to the KiwiSaver settings have made things clearer and more flexible for service tenancy workers to gain access to their KiwiSaver in the same way that many Kiwis already have.

We are mortgage advisers who’ve helped a lot of Kiwis into their first homes and now we’re seeing another real opportunity to help more Kiwis – to help you.

Changes for Service Tenancy Workers

Workers in service tenancies have effectively been locked out of first-home withdrawal because their jobs require them to live in employer-provided housing, and so the Government is tweaking KiwiSaver laws so workers with “live-in” job residences. This includes a huge number of Kiwis such as farmers and rural farm related workers, rural school teachers and country cops. It’s not just rural people as there are a number of people in tourism, hospitality, park workers and also many defence personnel who have accommodation provided as part of their employment.

The Finance Minister Nicola Willis recently announced that they are making a technical change to the KiwiSaver Act to ensure workers in service tenancies aren’t denied the opportunity to put a foot on the property ladder. These Kiwi workers will be able to use their savings within KiwiSaver to buy a first home too.

The change will allow service tenancy workers to use their KiwiSaver for a first home purchase without having to live in it immediately.

Plus many farmers want to buy a farm which includes a home and so the Government is also changing the law to allow first-time farm buyers to put their KiwiSaver balances towards the purchase of a farm through a commercial entity they majority own, and where it will be their principal place of residence.

These changes need to go through a process, with a Bill to go before a Select Committee to introduce the legislation giving effect to the changes. The aim will be to have this introduced to Parliament in the middle of the year and enacted after the 2026 General Election.

Read the Fact Sheet Here.

How To Apply for a Mortgage

We understand that you are a first home buyer even if you are not going to immediately live in your new house, and as such you will want some support to understand the new rules and get your home loan application ready.

Your application is going to be a little different from most as you will still have your employer-provided housing and that allows you to have a tenant in your new home for now. That extra rent can help your application and mean that you could borrow more, but you also need to ensure that the mortgage will be affordable for you without rent as you will probably want to call this your home at some point.

Our team at Mortgage Managers know a lot about helping first home buyers, and we also operate the largest New Zealand forum specifically designed for first home buyers too: Kiwi First Home Buyers Group on Facebook.

We Answer the Frequently Asked Questions

Since the announcement we have seen a lot of questions, and especially on our Facebook Group: Kiwi First Home Buyers Group

While we do not yet know the details yet, we will always try to answer what we can.

How Much Deposit Do You Need? As mortgage advisers we expect that the lending criteria for workers with “live-in” job residences will be the same as for all other eligible Kiwis and that means you could have anywhere from 5% deposit.

Can Rent Be Added? We know that some workers that are supplied houses as part of their renumeration may earn a little less because they are provided a home, and therefore we would expect that anyone that fits this service tenancy workers amendment will not only be able to use their KiwiSaver but will be able to add the rent to help the banks servicing calculations.

Is this just for farm workers? No, not at all. When you look at the press releases it might appear that it was designed specifically for farm workers, but there are many other workers in New Zealand that are provided homes and living accommodation by their employers. We expect that this amendment will apply to anyone that fits the service tenancy workers as determined by the Tenancy Services.

PLEASE NOTE: As mentioned, we do not yet have all the details from Government or the various policies from the banks so please bear in mind that these answers may not be 100% accurate.

Other Reading

You might have employer-provided housing, but as first home buyers you might also find some of these articles useful.

First Home Buyers’ Information: Your Pathway to Home Ownership in New Zealand – Embarking on the journey to purchasing your first home in New Zealand is both thrilling and nerve-wracking. You’re about to make one of the most significant investments in your life, and the stakes are high. From understanding the various home loan options to navigating the intricacies of a property purchase, there’s a lot to get your head around.

Kāinga Ora First Home Loan – The Kāinga Ora First Home Loan Programme offers a beacon of hope for those looking to secure their dream home without the steep financial burdens typically associated with mortgages. This initiative provides a viable path to homeownership, enabling you to step onto the property ladder with more confidence and fewer obstacles. By offering a helping hand through reduced deposit requirements and government support, Kāinga Ora aims to make homeownership more accessible than ever before.

Getting the Best Home Loan in 2026 – For most first home buyers the excitement of just getting a home loan approved feels like a win, but often it means that you do not end up getting the best home loan. Of course you might be happy enough just to get your home loan approval, as that allows you to buy your first home which will also probably your biggest purchase ever. But maybe you should also make the effort to ensure that you are getting the best home loan – it’s probably your biggest financial commitment (debt) ever!

The post KiwiSaver First Home Withdrawals for Service Tenancy Workers appeared first on Mortgage Managers.

HOW WE USE THE FINANCIAL GOALS YOU SET FOR 2026 TO SUPPORT YOU

Setting goals isn’t just useful for you — it helps us give you far better advice.

When you complete your plan, we align your experience with us around your goals:

1. More relevant newsletters

You’ll receive content that matches your situation — first home buyers, equity growth, budgeting, investing, and more.

2. Personalised reminders

Refixing reminders and review prompts will be tailored based on what you told us you want to achieve.

3. Advice aligned to your goals 

When we structure lending or recommend a bank, we’ll explain why it supports your goals.

4. Annual goal refresh

Each year, you’ll have the option to update your goals and receive a fresh plan for the year ahead.

WHO THIS IS FOR

This guide is designed to show you how to set financial goals for 2026 in a way that feels achievable and realistic. This goal-setting tool is designed for:

• First-home buyers

• Renters saving for a deposit

• Homeowners wanting to increase equity

• Homeowners looking to refinance

• Investors planning their next purchase

• Business owners looking to improve their lending structure

• Anyone wanting a clearer financial plan for the year

If you’re planning anything with property, lending, or financial progress in 2026 — this is for you.

A DEEPER LOOK AT HOW TO SET FINANCIAL GOALS FOR 2026

Many people worry about how to set financial goals for your future, but the process becomes far easier when you understand where you are today and what you want your money to support tomorrow.  There’s pressure to be perfect, to make big changes, or to turn your entire financial life upside down in one step. But the truth is, setting financial goals doesn’t need to be dramatic or complicated. In most cases, the best financial goals grow from simple observations about what’s going well, what’s not, and what you want your money to support over the next year.

Learning how to set financial goals for 2026 gives you a clearer pathway and helps remove the uncertainty that often slows financial progress.

Before you set your financial goals for 2026, it helps to take a relaxed look at where you are today. Not with judgement, not with stress, but with an honest curiosity. Are you saving consistently? Is debt holding you back? Are you preparing for your first home? Are you trying to increase your equity? Are you thinking about investing or growing your assets? This kind of reflection is the first step in setting meaningful financial goals.

Your goals become much more effective when they’re connected to your real situation, not what you think you “should” be doing. The personalised goal plan you receive after completing the form is designed to help you see these things clearly and stay aligned with them throughout 2026.

THE BIGGEST MISTAKE PEOPLE MAKE WHEN SETTING FINANCIAL GOALS

One of the biggest mistakes we see when people try to figure out how to set financial goals for 2026 is trying to focus on too many goals at once. It’s tempting to say, “In 2026 I want to save more, pay down debt, invest, buy a home, increase my earning potential, reduce spending, and be more consistent with budgeting,” but no one can sustain that many changes for long.

Effective financial planning comes from choosing one main goal — the one that will make the biggest positive difference in your life over the next 12 months — and then supporting it with a few smaller, practical habits that move you closer to that outcome. The personalised goal plan you receive after filling out the form helps you do exactly that.

 

This is why the first question we ask in the form is, “What is your number one financial goal for 2026?” Once you know this, everything else becomes easier. If your top priority is saving for your first home, then your budgeting, spending, and debt decisions will naturally align with that. If your top priority is improving your mortgage position or increasing equity, then your repayment habits, refixing decisions, and long-term planning will shift toward that.

No matter your starting point, understanding how to set financial goals for 2026 ensures every decision you make this year moves you toward meaningful progress.

HOW TO SET FINANCIAL GOALS FOR 2026 BASED ON YOUR SITUATION

Not everyone is starting 2026 from the same place, which means not everyone’s financial goals will look the same. A personalised approach is always more sustainable than a generic one. Setting financial goals becomes much easier when you understand your financial starting point.

For example:

If you’re saving for your first home

If you’re unsure how to set financial goals for future that feel realistic, start by focusing on one outcome that would make the biggest difference in your life in 2026. Your financial goals will likely focus on building your deposit, managing debt, improving credit, and developing consistent budgeting habits. Your plan for 2026 should be simple and rooted in strong habits.

If you’re a new homeowner

Your financial goals may involve increasing equity, reviewing your budget, managing cashflow, and planning ahead for refixing. The priorities become stability and smart decision-making.

If you’re an established homeowner

You may want to focus on mortgage optimisation, property-related planning, shortening loan terms, or preparing for strategic refinancing. Your goals become about maximising the value of what you already have.

If you’re an investor or business owner

Your financial goals for 2026 may focus on expanding assets, improving yields, planning upcoming purchases, and making sure your lending structure supports your next steps.

This is why the form doesn’t just ask for your goals — it also asks for your current situation. When you know where you’re starting, you can create goals that make sense.

 

WHY WRITING DOWN YOUR FINANCIAL GOALS FOR 2026 MATTERS

There’s real behavioural power behind writing down your financial goals. Research consistently shows that people who write down their goals are far more likely to achieve them. This is because writing triggers clarity. It turns vague hopes into something more tangible. It also helps you remember your intentions when life gets busy.

When you use the form below, your personalised goal plan is automatically generated in a clean, simple format you can print. Keeping your financial goals visible — whether on your fridge, desk, journal, or saved on your phone — keeps you aligned during the year. You’ll be reminded of what you’re working toward and why.

The goal is not to create pressure. It’s simply about staying intentional. Setting financial goals for 2026 becomes much easier when you have a simple plan in front of you that reflects what you genuinely want.

HOW TO TURN YOUR 2026 FINANCIAL GOALS INTO PRACTICAL ACTIONS

A big part of learning how to set financial goals for 2026 is recognising which habits are supporting your progress and which ones are slowing you down. Understanding how to set financial goals for 2026 will make these 90-day actions far easier to follow and stick with. A financial goal without a practical next step is just a wish. This is where your 90-day focus areas come in. Every meaningful financial change — whether it’s saving more, reducing debt, or preparing for a home purchase — begins with small, manageable steps repeated over time.

The personalised plan you’ll receive includes suggested 90-day actions based on your category (we call it your Financial Pathway). You’ll see three simple steps designed to get you moving quickly. They aren’t dramatic or overwhelming. They’re practical, realistic, and aligned with how people actually change habits.

For example, if your main goal is saving for your first home, one of your 90-day actions may be building a consistent weekly savings habit. If your goal is increasing equity, one of your actions may be reviewing your mortgage structure or setting aside a buffer. If your goal is investing, you may get recommendations for reviewing cashflow or planning the next property step. 

 

WHY PERSONALISATION MATTERS FOR YOUR 2026 FINANCIAL GOALS

One of the biggest benefits of learning how to set financial goals for 2026 is the clarity it brings to your everyday money decisions.
Generic financial advice rarely leads to real progress. Your financial goals for 2026 should reflect your current situation, your income, your priorities, and what you genuinely want to achieve this year. When your goals are personalised, you stay more motivated, build stronger habits, and make consistent decisions that support your long-term pathway — whether that pathway involves buying your first home, reducing debt, building equity, or improving financial stability.
Once you understand how to set financial goals for 2026, you can prioritise the actions that will have the biggest impact on your financial position.

MOMENTUM MATTERS MORE THAN PERFECTION

You don’t need a perfect plan to start making progress. What matters most is building momentum through small, manageable actions — a weekly savings habit, reviewing your budget, improving your cashflow, or checking your mortgage structure. These simple steps compound over time and help you move steadily toward the financial goals you set for 2026, no matter when in the year you begin.

HOW YOUR 2026 FINANCIAL GOALS SHAPE YOUR YEAR

Setting your financial goals for 2026 gives you a clear sense of direction, but it also does something deeper — it creates alignment. Once you decide what you want to achieve, your daily choices, spending habits, and priorities naturally begin shifting toward that outcome. You stop reacting to money and start acting with intention. This makes progress easier, faster, and more sustainable throughout the year.

HOW TO STAY CONSISTENT WITH YOUR 2026 FINANCIAL GOALS

If you’re still figuring out how to set financial goals for 2026 that match your lifestyle, remember that consistency matters more than perfection. Consistency is the most important part of setting and achieving financial goals. You don’t have to be perfect — you just need to maintain momentum. There are a few helpful ways to stay aligned with your financial goals throughout the year:

1. Review your plan every three months.
   Your personalised plan includes 90-day focus areas for a reason. Short windows help you stay motivated.

2. Track your habits, not only your results.
   Saving $200 per week, sticking to a budget, or reviewing your mortgage rates are small actions that create big results.

3. Keep your plan somewhere visible.
   A printed copy or even a screenshot can keep your “why” in front of you.

4. Don’t try to overhaul everything at once.
   Focus on one main goal and build from there.

5. Be flexible and honest with yourself.
   If something changes — your job, your family situation, your priorities — your goals can change with you.

Setting financial goals for 2026 is about direction, not perfection.

Staying consistent is easier when you’re clear about how to set financial goals for your future, because your long-term vision guides your short-term habits.

Start here 

RECOMMENDED ARTICLES

These resources will give you even more insight into how to set financial goals for 2026 and stay on track throughout the year.

• Mortgage Approval Process Guide NZ Home Loans – Mortgage Managers
• 7 Essential Steps to Get a Mortgage in New Zealand – Mortgage Managers
• How to Choose a Mortgage Broker in NZ for the Best Home Loan – Mortgage Managers
• Get the eBook

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The post How to Set Smart Financial Goals for 2026 (Free Personalised Goal Plan and Step-by-step guide) appeared first on Mortgage Managers.

For that reason we thought we would write a post explaining a bit about the concept and how shared home ownership works for first home buyers.

In this post we will explain how the concept known as shared home ownership works and also point out the pro’s and con’s. This is not designed to “sell” the concept to you, but to ensure that you are informed about this option which will allow you to make your own decision.

What Is Shared Home Ownership?

If you’ve never explored shared ownership before it might seem quite complicated, but it is really quite a simple concept.

Obviously you will have a deposit to put into the purchase of your home and for shared home ownership it needs to be a minimum of just 5%. With a smaller deposit the bank may be willing to give you a mortgage, but it may not be enough to buy a suitable home.

How do you make up the shortfall?

You may have family that can help out, but for many people that is just not an option and that’s where shared home ownership can help. We use a company called YouOwn to partner with you by providing up to 15% of the purchase price and that enables to borrow 80% from a bank or a non-bank lender.

In most cases that we’ve seen the buyers have more than the minimum 5% deposit and then along with the bank are able to fund most of the purchase. Therefore it may just be a small portion that they need help with – generally between 5% to 15% of the purchase price.

Who Shares The Ownership With You?

As mentioned, in many cases it is family (often parents) that are able to help but this is not going to work for a lot of people and so we have a specialist businesses that we work with to provide this option.

YouOwn is a specialist in this area and has no income cap, but there is an equity charge for the use of the money. The equity charge works in a similar way to interest (charged at 5.95%) and means there is a monthly cost payable to YouOwn, and this needs to be factored in when applying for the mortgage and can limit what you can borrow.

Because the bank (or non-bank lender) effectively have a 20% deposit there are no low equity margins that would normally be added, and therefore you save money on your mortgage and also are tested at a lower rate by the bank.

This concept of shared home ownership means you are buying your house with someone else. That enables you to buy a home sooner and at todays prices, but instead of owning 100% of your home, you may own 85% (or more) of the property. After five years you are able to buy out YouOwn’s share to achieve 100% ownership but this is not a requirement.

There are pro’s and con’s with any shared ownership, so you need to be aware and consider what option (if any) suit you best.

When buying a home you may find that on your own you cannot get onto the property ladder, or may be restricted to a home that is not suitable for you. Therefore shared home ownership might get you closer to your dream of owning your own home. 

The Pro’s (Benefits)

Many first home buyers struggle with having a large enough deposit and others are short on income to afford a large enough mortgage. That means you either have to keep saving while you watch house prices increasing, or see if shared home ownership is an option to consider.

• The main benefit of shared home ownership is it means you can buy earlier than you otherwise could.
• Buying earlier means you can buy at today’s prices rather than risking seeing house prices increase while you continue to save – even a 5% increase in value could mean that you have to pay a lot more for your home in even a year or two.
• You may get a better deal from the bank as they are lending no more than 80% and so the risk to the bank is less. In many cases that means a significantly lower interest rate on your mortgage.

The Con’s (Things To Be Aware Of)

Obviously you only own a share of the property and YouOwn owns the remaining share, and so you need to be aware of the rules that apply with the shared ownership options.

There are a number of things that you need to be aware of:

• Application costs – YouOwn has a fee of $1,100
• Equity charge – YouOwn has an equity charge which you pay for using the money (equity) and that is currently 5.95%.
• Share Buy-Back – YouOwn is buying a share of the property (typically 5% – 15%) and you will buy that share back in the future and at the future value. You need to understand how this works as over time with the property value that costs rises too.

When you enter into a shared home ownership agreement it will cover off these things and more, and of course your solicitor will explain these to you as well.

Shared home ownership is not “free money” but it can really help when other options might not work for you.

Our Team Are The Experts

As mortgage advisers we have an in depth knowledge of the shared home ownership options including YouOwn and we are also accredited with YouOwn and the banks and non-bank lenders that work with them. Most advisers do not have this accreditation and so cannot provide this option to you.

We can also explain how it may work for you, discuss the pro’s and con’s and also compare to what other options may also work for you.

Shared home ownership has helped a lot of Kiwis into their homes, but it’s not always the best option. You should always seek advice from those mortgage advisers that are accredited with YouOwn and have access to the banks and non-bank lenders.

The post Better Options Now With Shared Home Ownership appeared first on Mortgage Managers.

In many respects it’s quite a sensible clause because if you have a low deposit, then you probably cannot afford any huge repair costs, especially in the first year or two of owning your home.

What is a little unclear to many people is what triggers this clause.

What Is The Kāinga Ora Maintenance Clause?

We’ve heard that a lot of people believe that every property purchased using the Kāinga Ora First Home Loan scheme needs to have a building report done.

Then if any issues are identified in the report then those issues need to be quoted to ensure that they fit under the $10,000 expense cap.

Plus those repairs need to be completed within 6-months of purchasing the home, and once the repairs are done they then need to be confirmed back to the lender who advises Kāinga Ora.

While you need to expect this might be the case, we would stress the word ‘might‘ as it is not always the case.

Understanding The Process

Generally the process when you’re purchasing your first home and using the Kāinga Ora First Home Loan scheme is:

• you would want to find the best mortgage advisers – of course that would be one of the team at Mortgage Managers
• the mortgage adviser would arrange to get you pre-approved as a purchaser before you go shopping for the property
• the pre-approval is likely to have no mention of the requirement for the building report
• but – your mortgage adviser should highlight the potential requirement for a building report
• when you identify a property the mortgage adviser and lender will check the property listing and draft sale and purchase agreement
• if you then proceed a valuation will be ordered, and once complete the mortgage adviser and lender will review the report
• if the report (valuation) highlights any potential issues a building report will be required
• if the building report then identifies any repairs needed then you will need to get quotes for those repairs
• the quotes need to be for less than $10,000 and you (the purchaser) need to be able to demonstrate that you can afford to have the repairs completed
• the repairs need to be completed within 6-months of the settlement date (the purchase) and proof provided to the lender who will update Kāinga Ora

Now we say that the building report may be required because it does depend a lot on the property, any clauses within the sale and purchase agreement, and anything identified within the valuation.

Let’s Look At How This Works…

It’s always good to know what the lenders and the people at Kāinga Ora are looking at, so lets step through this in a bit more detail.

When you identify a property that you want to purchase as your first home, it’s most likely listed on a real estate website. The lender will almost certainly look at the listing and in their opinion see whether there’s anything likely to need repairs. If they think there is something then they may then request a building report.

When you’re dealing with the real estate agent and preparing the sale and purchase agreement, the standard agreement has the ability for you to require a building report and many real estate agents, solicitors, and mortgage advisers would say it’s prudent to get a building report on any new house purchase. What that means is it’s quite likely that the requirement for a building report will be a clause within the agreement.

When the lender sees that the clause (requirement) is in the agreement (after they’ve been supplied a copy) they will request a copy of that building report. This is assuming that you will be getting one which is not always the case.

One of the other requirements when purchasing your first home through the Kāinga Ora’s First Time Loans scheme is for a valuation on the property. Valuations are generally requested by banks when there’s less than 20% deposit or if it’s a private sale. Given you will be using the Kāinga Ora’s low deposit First Home Loans it’s almost certain that you would need the valuation.

When the lender is supplied a copy of the valuation they will not only be looking at the value on the property, but they will be looking at the commentary around the condition of the property. If there’s anything in the report questioning the condition of the property, then a building report will be a requirement.

In some cases, we’ve seen small issues that can be readily fixed and actually cost less than what it would cost for a building report; however, the banks are very consistent on requiring a building report should there be any identifiable problem. We do always push back if it is very minor, or should the vendor (seller) say they will fix the issues before settlement.

In Summary:

So in summary, you will need a building report if (a) the property listing identifies anything that concerns the lender or (b) if the sale and purchase agreement has a clause requiring a building report or (c) if the valuation highlights anything that would make the lender want a building report.

When you get the building report for Kāinga Ora (the First Home Loans scheme) you need to also ensure that you can get quotes to rectify any issues highlighted.

If it’s very small issues then you may be able to identify those as something that you can repair yourself, but if it’s anything of significance then you will need to get a quote to have those repairs done.

A good mortgage adviser will help you work through all of this and be there to answer questions and offer advice.

It’s Best Working With An Experienced Mortgage Adviser

As mortgage advisers that do a lot of First Home Loans in this manner we would discuss and explain this to you in advance.

Of course we do know that there are people who will deal with the bank directly or with inexperienced mortgage advisers and often this is not explained to them.

If you’re looking for a mortgage adviser to help you with getting your loan approved and all the nitty gritty that comes with it, then the team at Mortgage Managers are well placed to provide this advice. We have a lot of experience with first home buyers and with the various lenders that can provide the Kāinga Ora’s First Home Loans and other options if you’re not eligible for that. We do have low deposit options with both banks and non-banks plus we have the shared home ownership options as well.

Most of all, when you deal with one of the team at Mortgage Managers, you can get all the advice for free.

Assuming the lending is arranged with a bank, then the bank pays the advisor’s commission and it costs you nothing to get the advice. Of course, even if you have spoken to your bank directly, you may want to reach out to one of the advisers and they will still provide advice so that you can be sure that you’re getting the best options and not getting sprung with any surprises on the way through.

We’d love to help you on your journey to getting the keys for your first home.

The post The Kāinga Ora Maintenance Clause (for First Home Loans) appeared first on Mortgage Managers.