Vega Mortgages case study: First home grant declined at the last minute

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In the world of real estate, challenges can arise unexpectedly, putting the dreams of buyers at risk. Effective communication, strategic planning, and collaboration between mortgage adviser and real estate agent can transform a potentially lost opportunity into a successful outcome. 

Client Profile:

  •  Initial property purchase price $590,000
  •  First home buyers with 10% deposit (KiwiSaver $49,000 + First home grant of $5,000 each)
  • First home grant was declined due to increased efforts to build deposit
  • Deposit shortfall $10,000, potential loss of desired property

Affordability Issues:

Clients’ first home buyer grant was declined at the last minute due to their increased efforts to
build their deposit by working extra hours. This meant they were $10,000 short on their deposit
and were going to miss out on the property.

Collaborative Approach: 

Vega mortgage adviser proactively reached out to the real estate agent, recognising that collaboration would be key to salvaging the deal. Together, they brainstormed strategies to bridge the deposit gap and keep the transaction alive. Through strategic negotiations, they successfully persuaded the vendor to lower the sale price to $570,000 and the clients used all their savings to scrape together the $57,000 they needed to complete the purchase.


Using the extra savings they had, the buyers were able to secure the deal. Additionally, the vendor, who had been struggling to sell the property, was delighted that the deal did not fall through, ultimately achieving their goal of closing the sale.

Vega Financial Advisers are located nationally and can help you with all aspects of finance.



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