Having relocated to Tauranga, Jason and his wife started looking for a house to buy four years ago, in what he describes as 'the Wild West Bay of Plenty housing market'. They'd been looking at properties on and off, pausing between children and various COVID lockdowns, and had been left feeling discouraged as they found themselves chasing ever-rising prices. 

The pre-approval process with the banks had been generally slow and frustrating and they were looking at other options when they realised that as Simplicity KiwiSaver members, they were eligible to apply for a Simplicity First Home Loan. Initially attracted to Simplicity’s KiwiSaver scheme because of the nonprofit nature of the business, Jason also liked that it was a Kiwi company and gave back to communities in need - which was closely aligned with their personal values.

'We vibe with Simplicity in general and think the organisation is moving this country in the right direction, so once we clicked to the fact we could borrow this way it was a complete no brainer. So much so, we didn’t look to gain bank pre-approval again this time around,' said Jason.

They had some initial reservations as they had heard about some complexities associated with First Home Loan lending via KiwiSaver investors, however Jason found the process with Simplicity very straightforward. 'Pre-approval was very easy to get sorted and we liked that it was geared around our actual household income and there was no way to borrow a crazy amount. Previous bank pre-approval has given us far more than we would want or should spend'.

They also loved the idea behind the floating rate, as it gave them the flexibility they were looking for to be able to pay off more whenever they were able. 'We didn’t need or want offset portions, credit cards, or renovation top ups. We just wanted a simple loan at a fair rate,' he said.

There were some challenges, such as transitioning from the conventional broker-mediated mortgage applications to Simplicity's online platform. 'We had to do the legwork and the online form was a bit daunting, but once we realised we had to just sit down and do it all in one hit, it wasn’t bad at all'.

After the loan got approved, everything happened very quickly. Jason and his wife were impressed by the quick and efficient communication from the Simplicity lending team, along with the surprisingly efficient settlement process. 'The communication with the Simplicity team was fantastic, everything moved well ahead of schedule and we always knew where we were at. Our solicitor was incredibly impressed at the speed and clarity as well. We were blown away with how early our settlement was actually completed on the big day too; we had confirmation and keys enroute before midday'.

Reflecting on their experience, Jason just wishes they had gone with Simplicity sooner, although he acknowledges that they love their new home, so perhaps it all worked out as it should have in the end! His advice to other aspiring homeowners is '...ignore the bells, whistles and marketing of the big banks and stick to an organisation out here truly doing the best by its customers and community'.



Photo of the cycle track behind Jason's new home.